WALTHAM,
Mass., Nov. 3, 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 729,600 shares of common stock
of Aeglea to six 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 30, 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 $11.43, the
closing price per share of Aeglea's common stock as reported by
Nasdaq on November 1, 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 its 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. Aeglea's approach
combines novel antibody engineering, rational therapeutic
combinations, and precision immunology with the goal of maximizing
efficacy, safety, and convenience of treatments for IBD. The
company is developing antibodies targeting α4β7, TL1A, and
IL-23.
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SOURCE Aeglea BioTherapeutics, Inc.
