Gritstone bio (GRTS) Appoints Stephen Webster to its Board

Gritstone bio, Inc. (Nasdaq: GRTS), a clinical-stage biotechnology company working to develop the world’s most potent vaccines, today announced the appointment of Stephen Webster to its Board of Directors. A veteran finance executive in the biotechnology industry, Mr. Webster has served as an executive for several renowned companies and held key roles in raising capital, business development transactions and operations for over 30 years. The company also announced that Steve Krognes will not stand for re-election at the 2024 Annual Meeting.

“We are excited to welcome Stephen Webster to our Board of Directors at this important and exciting time for Gritstone. His distinguished track record and business development expertise will be invaluable as we prepare for mature Phase 2 GRANITE data and a period of potential significant growth,” said Andrew Allen, M.D., Ph.D., Co-founder, President, and Chief Executive Officer of Gritstone. “Stephen’s highly informed, educated and engaged approach will be a great asset as we continue to execute on our strategic initiatives and drive long-term value for our shareholders.”

“Mr. Webster’s extensive experience guiding companies through dynamic competitive environments and strategic transactions makes him a highly sought-after expert in the industry, and we are happy to have him on our Board,” said Dr. Elaine V. Jones, Chair of Gritstone bio’s Board of Directors.

Mr. Webster served as the Chief Financial Officer of Spark Therapeutics, a publicly traded gene therapy biotechnology company, from July 2014 until its acquisition by Roche for $4.3 billion in December 2019. He was previously Senior Vice President (SVP) and Chief Financial Officer of Optimer Pharmaceuticals, a publicly traded biotechnology company, from July 2012 until its acquisition by Cubist Pharmaceuticals in October 2013. Prior to joining Optimer, Mr. Webster served as SVP and Chief Financial Officer of Adolor Corporation, a biopharmaceutical company, from 2008 until its acquisition by Cubist Pharmaceuticals in 2011. He also served in leadership positions in the investment banking healthcare groups of Broadpoint Capital and PaineWebber Incorporated.

In addition to Gritstone, Mr. Webster currently serves on the Board of Directors of Cullinan Therapeutics and NextCure, Inc. He previously served on the Board of Directors of TCR2 Therapeutics until its merger with Adaptimmune. Mr. Webster received an A.B. in Economics from Dartmouth College and an M.B.A. in Finance from The Wharton School of the University of Pennsylvania.

“I am thrilled to join the Board of Directors of Gritstone bio, a highly innovative vaccine developer whose novel platforms could be game changers in oncology and infectious disease,” said Mr. Webster. “I look forward to collaborating with the talented team of directors and management as we seek to capitalize on the potential growth opportunities and drive significant value for shareholders."

“On behalf of Gritstone bio and the Board of Directors, I would like to thank Steve Krognes for his valuable contributions to the company over the last six years,” added Dr. Allen. “His leadership has enabled Gritstone to establish itself as a leading player in the promising neoantigen-directed cancer vaccine field. We wish him the best with his future endeavors.”

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