Gaurav Aggarwal
About Gaurav Aggarwal
Independent director at Unicycive Therapeutics since 2023; age 52 at the 2025 record date. He holds an M.D. from Columbia University College of Physicians & Surgeons and a B.S. in Agricultural Economics from Cornell University. He is Managing Partner at Vivo Capital LLC (since April 2024; previously Managing Director 2016–mid-2023) and currently serves on the board of Geron Corporation. Prior roles include Chief Business Officer at Ocera Therapeutics (2014–2016), Managing Director at Investor Growth Capital (2013), Principal/Partner at Panorama Capital (2006–2012), and investment roles at JPMorgan Partners, KBL Healthcare Ventures, and Wasserstein Perrella & Co.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ocera Therapeutics, Inc. | Chief Business Officer | Apr 2014–Oct 2016 | Business development leadership |
| Investor Growth Capital | Managing Director | Jan 2013–Dec 2013 | Growth investing |
| Panorama Capital, L.P. | Principal & Partner | Aug 2006–Dec 2012 | Venture capital leadership |
| JPMorgan Partners, LLC | Associate (PE) | Mar 2004–Aug 2006 | Private equity transactions |
| KBL Healthcare Ventures; Wasserstein Perrella & Co. | Investment roles | Pre-2004 | Biopharma/medtech venture investing |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Vivo Capital LLC | Managing Partner | Apr 2024–present | Previously Managing Director (Oct 2016–mid-2023) |
| Geron Corporation | Director | Current | Public company board service |
Board Governance
- Independence: Board determined Aggarwal is independent under Nasdaq/SEC rules; he serves on all three standing committees as an independent member.
- Committee memberships (as of Dec 31, 2024):
- Audit Committee: Member; chair is Dr. Laumas; audit committee financial expert is Dr. Laumas.
- Compensation Committee: Chair (Aggarwal), members include Drs. Laumas and Kenkare‑Mitra; an external compensation consultant was engaged in FY2024.
- Nominating & Governance Committee: Member; chair is Dr. Kenkare‑Mitra.
- Attendance and engagement: In FY2024 the Board held 4 meetings; Audit 4; Compensation 3; Nominating 0 (one unanimous written consent). No director attended fewer than 75% of meetings; all directors attended the 2024 annual meeting.
- Leadership structure: CEO (Dr. Gupta) also serves as Chair of the Board.
Fixed Compensation
| Metric (USD) | 2023 | 2024 |
|---|---|---|
| Fees earned or paid in cash – Aggarwal | $28,750 | $59,375 |
| Director Compensation Policy: Annual cash retainer | $40,000 | $40,000 |
| Policy: Committee chair fees (Audit/Comp/Nom‑Gov) | $15,000 / $10,000 / $8,000 | $15,000 / $10,000 / $8,000 |
| Policy: Committee member fees (Audit/Comp/Nom‑Gov) | $7,500 / $5,000 / $4,000 | $7,500 / $5,000 / $4,000 |
Notes:
- The policy entitles non‑employee directors to annual equity valued at $50,000 vesting after one year, plus cash retainers/committee fees.
Performance Compensation
| Equity Award Detail | 2023 | 2024 |
|---|---|---|
| Option awards – grant date fair value (Aggarwal) | $109,831 | $0 (no equity awards paid to non‑employee directors in 2024 per table) |
| Policy: Annual equity grant (non‑employee directors) | $50,000 value; vests at 1‑year anniversary | $50,000 value; vests at 1‑year anniversary |
- No director performance metrics (TSR, revenue, EBITDA) are disclosed for director equity; equity is time‑based under the policy.
Other Directorships & Interlocks
| Entity | Type | Position/Stake | Potential Interlock Consideration |
|---|---|---|---|
| Geron Corporation | Public company | Director (Aggarwal) | External board role |
| Vivo Opportunity Fund Holdings, L.P. | Shareholder | 9.99% of common; 58.55% of Series A‑2 Prime (beneficial ownership subject to 9.99% cap) | A Vivo‑branded fund is a top holder; Aggarwal is at Vivo Capital LLC. The proxy does not disclose a related‑party transaction with Vivo; monitor for potential perceived interlock risk. |
Expertise & Qualifications
- Medical/biopharma and finance: M.D.; extensive venture/private equity experience in life sciences; executive operating experience as CBO.
- Board skill matrix: Governance, Financial, Business Operations, Industry Knowledge, Risk Management.
Equity Ownership
| Ownership Item | Value |
|---|---|
| Shares of common stock beneficially owned | 180,000; less than 1% |
| Composition | Includes 180,000 shares issuable upon exercise of vested stock options |
| Hedging/Pledging | Hedging prohibited; pledging generally prohibited with limited exceptions requiring compliance officer approval and demonstrable repayment capacity |
Governance Assessment
-
Strengths
- Independent chair of Compensation Committee; engaged an external comp consultant in FY2024, supporting pay governance.
- Full committee coverage and independence; solid attendance record.
- Anti‑hedging policy and clawback provisions implemented via equity plan, aligning with investor protections.
-
Watch items / RED FLAGS
- Combined CEO/Chair structure may reduce independent board leadership; consider the presence/role of executive sessions (independents meet separately).
- Equity plan allows option/SAR repricing or exchange without shareholder approval, which some investors view unfavorably.
- Potential perceived interlock: Vivo Opportunity Fund is a major holder while Aggarwal is at Vivo Capital; although no related‑party transactions are disclosed, investors may monitor future transactions for conflicts.
-
Director pay mix trend
- 2023 included option awards ($109,831) plus cash fees ($28,750); 2024 shows cash fees only ($59,375) and no equity awards to non‑employee directors in the reported table, indicating a year‑over‑year shift toward cash.
-
Shareholder votes
- Meeting results expected to be disclosed via Form 8‑K within four business days post‑meeting, but no Item 5.07 filing was found for June 9, 2025 in the search window.
Board and Committee Activity (FY2024)
| Metric | Count |
|---|---|
| Board meetings | 4 |
| Audit Committee meetings | 4 |
| Compensation Committee meetings | 3 |
| Nominating & Governance Committee meetings | 0 (1 unanimous written consent) |
| Attendance threshold | No director <75% attendance; all attended 2024 AGM |
Related-Party Transactions
- None involving Aggarwal disclosed; the proxy states no related‑party transactions exceeding thresholds other than a repaid CEO loan in 2023.
Policies & Protections
- Insider trading policy (anti‑hedging; limited pledging exceptions).
- Equity plan evergreen and clawback: annual share pool increases; clawback tied to restatements for Section 10D executive officers; awards subject to potential recoupment.