Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
On June 12, 2020, Iovance Biotherapeutics, Inc. (the "Company") announced that
Timothy Morris no longer serves as the Company's Chief Financial Officer,
effective as of June 10, 2020.
Effective as of June 10, 2020, Michael C. Swartzburg, the Company's Vice
President, Finance, was appointed to replace Mr. Morris as the Company's interim
Principal Financial Officer and Principal Accounting Officer.
Mr. Swartzburg, age 53, has served as the Company's Vice President, Finance
since March 2018. Previously, Mr. Swartzburg provided contracted financial and
board of director advisory services to various public and private biotechnology
and technology companies from August 2016 through March 2018. From June 2014 to
August 2016, Mr. Swartzburg served in roles at Adverum Biotechnolgies, Inc.,
formally known as Avalanche Biotechnologies, Inc., including serving as Vice
President, Finance, Controller, and Principal Accounting Officer. Prior to
joining Adverum, Mr. Swartzburg served as Vice President, Finance and Corporate
Controller for One Medical Group, a healthcare provider and technology company
from June 2013 through June 2014. From August 2009 to June 2013, Mr. Swartzburg
served as the Corporate Controller for MAP Pharmaceuticals, Inc., a publicly
held biopharmaceutical company, which was acquired by Allergan, Inc. in February
2013. Mr. Swartzburg started his career as a certified public accountant and
auditor at Ernst & Young, LLP, in Los Angeles, California. Mr. Swartzburg
received his B.S. in Business Administration, with an option in Accounting, at
California State University, Northridge.
There are no arrangements or understandings between Mr. Swartzburg and any other
persons in connection with Mr. Swartzburg's appointment as interim Principal
Financial Officer and Principal Accounting Officer. There are also no family
relationships between Mr. Swartzburg and any director or executive officer of
the Company and Mr. Swartzburg has no direct or indirect interest in any
transaction or proposed transaction required to be disclosed pursuant to
Item 404(a) of Regulation S-K.
The Company expects no impact to its past and future financial reporting as a
result of this change.
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