Hongbo Lu, Ph.D.
About Hongbo Lu, Ph.D.
Independent director (Class I) at Zenas BioPharma since November 2022; age 54 as of April 28, 2025 . Managing Member of NEXTBio Capital; previously Senior Advisor and Managing Partner at Vivo Capital, Managing Partner at Lilly Asia Ventures, and Managing Director at OrbiMed Advisors . Education: Ph.D. in Bioengineering (University of Washington), M.B.A. (UC Berkeley Haas), undergraduate honors (Tsinghua University) . The board has determined Dr. Lu is independent under Nasdaq and SEC rules .
Past Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| NEXTBio Capital | Managing Member | Current (as of 2025) | Newly launched biotech investment firm |
| Vivo Capital | Senior Advisor | Feb 2024–Jan 2025 | Palo Alto-based investment firm |
| Vivo Capital | Managing Partner | Dec 2020–Jan 2024 | |
| Lilly Asia Ventures | Managing Partner | Jan 2017–Dec 2020 | |
| OrbiMed Advisors | Managing Director | Jun 2011–Oct 2016 | |
| Piper Jaffray & Co. | Biotech Analyst | Not disclosed | Began Wall Street career there |
| Zyomyx (biotech startup) | Affiliated | Not disclosed | Early involvement in Bay Area startup |
External Roles
| Company | Role | Tenure | Outcomes/Notes |
|---|---|---|---|
| Arrowhead Pharmaceuticals (Nasdaq: ARWR) | Director | Since Mar 2024 | |
| Terns Pharmaceuticals (Nasdaq: TERN) | Director | Since Apr 2020 | |
| Turning Point Therapeutics (Nasdaq: TPTX) | Director | Prior | Acquired by Bristol-Myers Squibb |
| Crown Bioscience (6554.TT) | Director | Prior | Acquired by JSR |
| Avedro (Nasdaq: AVDR) | Director | Prior | Acquired by Glaukos |
Board Governance
| Item | Detail |
|---|---|
| Committee memberships | Nominating & Corporate Governance Committee member |
| Committee chair positions | None (Nominating Chair is Jake Nunn) |
| Independence status | Independent under Nasdaq/SEC rules |
| Board meeting attendance | Each director attended ≥75% of board/committee meetings in 2024 |
| Board meetings held (2024) | 6 meetings |
| Years of service (ZBIO board) | Since November 2022 |
| Lead Independent Director | Not disclosed; policy contemplates fee if applicable |
| Nominating Committee activity (2024) | Committee established with IPO and did not meet in 2024 |
| Conflict oversight | Nominating Committee oversees board independence and conflicts; Audit Committee reviews related person transactions |
Fixed Compensation
| Component (2024) | Amount (USD) |
|---|---|
| Fees Earned or Paid in Cash | $12,833 |
| Option Awards (grant-date fair value) | $479,668 |
| Total | $492,501 |
| Director Compensation Policy (Cash Retainers) | 2024 Amount | 2025 Amount |
|---|---|---|
| Board of Directors fee | $40,000 | $40,000 |
| Nominating & Corporate Governance Committee – Member | $4,000 | $5,000 |
| Nominating & Corporate Governance Committee – Chair | $8,000 | $10,000 |
Performance Compensation
| Equity Award | Grant Date | Shares | Exercise Price | Vesting Terms |
|---|---|---|---|---|
| Initial director option grant | Sep 2024 | 37,000 | $17.00 | Annual vesting over three years, service-based |
| Annual director option grant (policy) | Policy | 18,500 | FMV on grant date | Vests on earlier of 1-year anniversary or pre-next AGM, subject to service |
Other Directorships & Interlocks
| Affiliation | Nature |
|---|---|
| Director affiliations table lists: Vivo Capital | Historical affiliation noted by company |
| Shareholders Agreement | Pre-IPO investor rights nominated certain directors, including Hongbo Lu, to the board (rights terminated at IPO; incumbents continue until replaced) |
Expertise & Qualifications
- Venture and growth equity investor across biopharma, with prior leadership roles at Vivo Capital, Lilly Asia Ventures, and OrbiMed .
- Technical background in bioengineering; Ph.D. (University of Washington), M.B.A. (UC Berkeley Haas), undergraduate honors at Tsinghua University .
- Public company board experience with Arrowhead and Terns; prior boards through to successful M&A outcomes (Turning Point, Avedro, Crown Bioscience) .
Equity Ownership
| Holder/Capacity | Shares Beneficially Owned | % Outstanding | Notes |
|---|---|---|---|
| NEXTBio Master Fund LP (deemed via investment manager role) | 58,823 | <1% | Dr. Lu is a managing member of NEXTBio Capital LLC, investment manager to the fund; disclaims beneficial ownership except to extent of pecuniary interest |
| Stock options (director) | 37,000 outstanding options | N/A | Not included in beneficial ownership as not exercisable within 60 days of April 14, 2025 |
| Anti-hedging policy | Prohibits directors, officers, employees from hedging or monetization transactions | — | Alignment safeguard |
Governance Assessment
- Independence and alignment: Board determined Dr. Lu is independent; anti-hedging policy applies to directors; director compensation is equity-heavy (time-based vesting), supporting long-term alignment .
- Committee engagement: Dr. Lu serves on Nominating & Corporate Governance; that committee did not meet in 2024 due to being established at IPO—watch for 2025 cadence to gauge governance rigor .
- Ownership/skin-in-the-game: Beneficial interest via NEXTBio Master Fund LP (58,823 shares) and 37,000 director options; no pledging disclosed; director stock ownership guidelines are within Compensation Committee remit, but specific guidelines/compliance not disclosed .
- Potential conflicts and related-party exposure: Historical affiliation with Vivo Capital noted; Dr. Lu was among directors nominated under pre-IPO Shareholders Agreement—company’s Audit and Nominating committees oversee related-party transactions and independence; no Lu-specific related-party transactions are disclosed .
- Compensation structure: No meeting fees; modest cash retainers; options are time-based, not performance-based; 2025 retainer increases for committee roles reflect peer benchmarking through independent consultant Alpine; Compensation Committee found no consultant conflicts .