WALTHAM,
Mass., Oct. 2, 2023 /PRNewswire/ -- Aeglea
BioTherapeutics, Inc. ("Aeglea") (NASDAQ: AGLE), a biotechnology
company advancing a pipeline of antibody therapeutics with the
potential to transform the treatment of inflammatory bowel disease
("IBD"), today announced that, Aeglea's independent Compensation
Committee of the Board of Directors approved the grants of stock
options to purchase an aggregate of 2,900,000 shares of common
stock of Aeglea to two non-executive employees as equity inducement
awards under the Aeglea BioTherapeutics, Inc. 2018 Equity
Inducement Plan, as amended (the "2018 Plan"). The stock options
were approved on October 2, 2023 and
were material to each employee's acceptance of employment with
Aeglea, in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock options were granted with a 10-year term and an
exercise price equal to $11.70, the
closing price per share of Aeglea's common stock as reported by
Nasdaq on October 2, 2023. The
options granted to each employee shall vest and become exercisable
as to one-fourth (1/4th) of the shares subject to the respective
options on the first anniversary of the employee's start
date, and one-forty-eighth (1/48th) of the shares subject to
the respective options shall vest and become exercisable monthly
thereafter, in each case, subject to continuous service with Aeglea
through the applicable vesting dates. The stock options are subject
to the terms of the 2018 Plan.
About Aeglea BioTherapeutics
In June 2023, Aeglea completed the asset acquisition
of Spyre Therapeutics, Inc. and shifted its disease focus to IBD.
Aeglea is advancing a pipeline of antibody therapeutics with the
potential to transform the treatment of IBD. The approaches combine
novel antibody engineering, rational therapeutic combinations, and
precision immunology approaches to maximize efficacy, safety, and
convenience of treatments for IBD. The company's portfolio includes
potentially best-in-class antibodies targeting α4β7, TL1A, and
IL-23.
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SOURCE Aeglea BioTherapeutics, Inc.