Leadership & Pay ·
Tempest Therapeutics entered a Master Services Agreement with Factor Bioscience to provide R&D services for in vivo…
TPSTTempest Therapeutics, Inc.
Tempest Therapeutics entered a Master Services Agreement with Factor Bioscience to provide R&D services for in vivo CAR-T therapies, with aggregate fees of $5.0 million annually payable in monthly installments of $416,667 plus reimbursement and a 10% project management fee; the transaction is related-party as CEO Dr. Matt Angel controls Factor. The Board appointed Nancy Freda-Smith as Class III director and Audit Committee Chair to regain Nasdaq compliance after prior vacancies triggered listing rule violations. Concurrently, CFO Nicholas Rossettos resigned effective immediately, and Constance Ames was appointed as Chief Financial Officer, Principal Financial and Accounting Officer, Treasurer, and Corporate Secretary. Tempest Therapeutics is a clinical-stage biotechnology company developing in vivo CAR-T therapies for cancer and autoimmune disease.