GlobeNewswire Inc | Dec 2, 2020 04:05PM EST

December 02, 2020

CAMBRIDGE, Mass., Dec. 02, 2020 (GLOBE NEWSWIRE) -- Mersana Therapeutics, Inc. (Nasdaq: MRSN), a clinical-stage biopharmaceutical company focused on discovering and developing a pipeline of antibody-drug conjugates (ADCs) targeting cancers in areas of high unmet medical need, today announced the grant of an inducement award to the newly appointed Senior Vice President and Chief Medical Officer, Arvin Yang, M.D., Ph.D. In connection with the appointment, the Compensation Committee of the Board of Directors of Mersana Therapeutics approved a stock option grant to Dr. Yang as an inducement material to Dr. Yangs entering into employment with Mersana Therapeutics, in accordance with Nasdaq Listing Rule 5635(c)(4). The stock option grant provides for the purchase of up to 200,000 shares of Mersana Therapeutics common stock, at a price of $25.48 per share, the closing price per share of Mersana Therapeutics common stock on the date of grant, and vests over four years, with 25% of the shares vesting on the first anniversary of the Dr. Yangs employment start date, and the remainder vesting in equal quarterly installments over the following three years, subject to Dr. Yangs continued employment with Mersana Therapeutics through such applicable vesting dates.

About Mersana TherapeuticsMersana Therapeutics is a clinical-stage biopharmaceutical company using its differentiated and proprietary ADC platforms to rapidly develop novel ADCs with optimal efficacy, safety and tolerability to meaningfully improve the lives of people fighting cancer. Mersanas lead product candidate, XMT-1536, is in the expansion portion of a Phase 1 proof-of-concept clinical study in patients with ovarian cancer and NSCLC adenocarcinoma. XMT-1592, Mersanas second ADC product candidate targeting NaPi2b-expressing tumors, was created using Mersanas customizable and homogeneous Dolasynthen platform and is in the dose escalation portion of a Phase 1 proof-of-concept clinical study. The Companys early stage programs include a B7-H4 targeting ADC, as well as a STING-agonist ADC developed using the Companys Immunosynthen platform. In addition, multiple partners are using Mersanas Dolaflexin platform to advance their ADC pipelines.

Contact:

Investor & Media ContactSarah Carmody, 617-844-8577scarmody@mersana.com