AUSTIN,
Texas and WALTHAM,
Mass., June 23, 2023 /PRNewswire/ -- Aeglea
BioTherapeutics, Inc. ("Aeglea") (NASDAQ: AGLE) today announced
that, in connection with the acquisition of Spyre Therapeutics,
Inc. ("Spyre"), a majority of the independent members of Aeglea's
Board of Directors approved the grant of stock options to new
employees (including the new members of management) as equity
inducement awards under the Aeglea BioTherapeutics, Inc. 2018
Equity Inducement Plan. The stock options were approved on
June 21, 2023 and were material to
each employee's acceptance of employment with Aeglea, in accordance
with Nasdaq Listing Rule 5635(c)(4). Cameron Turtle, the Chief
Operating Officer of Aeglea, received 47,297,197 stock options and
the other four employees received a total of 16,120,218 stock
options. The stock options have an exercise price equal to $0.30,
vest in equal installments over a 48-month period subject to
continuous service following the vesting commencement date and
expire on the tenth anniversary of the date of grant.
About Aeglea BioTheraeutics & Spyre
Therapeutics
In June 2023,
Aeglea completed the acquisition of Spyre Therapeutics and shifted
its disease focus to inflammatory bowel disease (IBD). Spyre
Therapeutics is a biotechnology company advancing a robust pipeline
of antibody therapeutics with the potential to transform the
treatment of inflammatory bowel disease (IBD). Spyre combines
best-in-class antibody engineering, rational therapeutic
combinations, and precision immunology approaches to maximize
efficacy, safety, and convenience of treatments for IBD. Spun out
of Paragon Therapeutics in 2023, Spyre was founded by Fairmount and is based in Waltham, MA.
For more information, please
visit http://aeglea.com or www.spyretx.com.
Follow Aeglea BioTherapeutics on social media: @Aegleabio
and LinkedIn.
Follow Spyre Therapeutics on social media: @spyretx and
LinkedIn.
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SOURCE Aeglea BioTherapeutics, Inc.