BRIDGEWATER, N.J., Nov. 22, 2017 (GLOBE NEWSWIRE) -- Insmed Incorporated (Nasdaq:INSM), a global biopharmaceutical company
focused on the unmet needs of patients with rare diseases, today announced the granting of inducement awards to ten new employees.
In accordance with NASDAQ Listing Rule 5635(c)(4), the awards were approved by Insmed’s Compensation Committee and made as a
material inducement to each employee’s entry into employment with the Company.
In connection with the November 13, 2017 commencement of their employment, the employees received options to purchase an
aggregate 29,860 shares of Insmed common stock at an exercise price of $31.78 per share, the closing trading price on the Nasdaq
Global Select Market on the date of grant.
The options have a ten-year term and a four-year vesting schedule, with 25% of the shares subject to the option vesting on the
first anniversary of the relevant grant date and 12.5% of the shares subject to the option vesting every six months thereafter
through the fourth anniversary of the relevant grant date, subject to the relevant employee’s continued service with Insmed on the
applicable vesting date.
About Insmed
Insmed Incorporated is a global biopharmaceutical company focused on the unmet needs of patients with rare diseases. The
Company's lead product candidate is ALIS for adult patients with treatment refractory NTM lung disease caused by MAC, which is a
rare and often chronic infection that is capable of causing irreversible lung damage and can be fatal. Insmed has
released top-line results from the phase 3 CONVERT study indicating the trial met the primary endpoint of culture conversion. The
Company is not aware of any approved inhaled therapies specifically indicated for refractory NTM lung disease caused by MAC
in North America, Japan or Europe. Insmed's earlier-stage clinical pipeline includes INS1007, a
novel oral reversible inhibitor of dipeptidyl peptidase 1 with therapeutic potential in non-cystic fibrosis bronchiectasis, and
INS1009, an inhaled nanoparticle formulation of a treprostinil prodrug that may offer a differentiated product profile for rare
pulmonary disorders, including pulmonary arterial hypertension. For more information, visit www.insmed.com.
Investor Contact:
Blaine Davis
Vice President, Head of Investor Relations
Insmed Incorporated
(908) 947-2841
blaine.davis@insmed.com