Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On May 5, 2020, Anchiano Therapeutics Ltd. (the "Company") announced the
appointment of Stephen DiPalma as Chief Financial Officer of the Company, by
agreement with Danforth Advisors, LLC ("Danforth"). Mr. DiPalma succeeds
Jonathan Burgin, who is leaving the Company as part of the closure of the
Company's Israel offices and facilities, as approved by the Board of Directors
of the Company and disclosed in the Company's Current Report on Form 8-K filed
with the Securities and Exchange Commission (the "SEC") on February 3, 2020. Mr.
Burgin's stepping down as Chief Financial Officer became effective as of May 1,
2020. He will remain in the position of Chief Operating Officer until the
closure of the Israeli offices and facilities are finalized on May 31, 2020. The
Company also entered into a consulting agreement with Mr. Burgin, pursuant to
which Mr. Burgin agreed to support the financial, accounting and treasury
functions of the Company following his departure.
Mr. DiPalma, age 61, has served as a Managing Director at Danforth since April
2014, and has served as a Senior Financial Advisor to the Company by agreement
with Danforth since 2018. Mr. DiPalma brings more than 30 years of experience in
life sciences and healthcare. He has served as the Chief Financial Officer and
finance lead for eight public companies prior to and since joining Danforth, and
has served as Chief Financial Officer, Chief Operating Officer, Chief Executive
Officer or Director of eight privately-held companies. In these roles Mr.
DiPalma has managed finance, accounting, and a variety of additional corporate
functions successfully. Mr. DiPalma received his M.B.A. from Babson College and
his B.S. from the University of Massachusetts-Lowell.
The engagement of Mr. DiPalma through Danforth may be terminated at any time by
the Company, upon sixty (60) days written notice.
Mr. DiPalma is not a party to any agreement or transaction that would require
disclosure under Item 404(a) of Regulation S-K. There are no family
relationships between Mr. DiPalma and any director or executive officer of the
Company that would require disclosure under Items 401(d) or 404(a) of Regulation
S-K.
Item 7.01. Regulation FD Disclosure.
On May 5, 2020, the Company issued a press release announcing the appointment of
Mr. DiPalma as the Company's Chief Financial Officer and departure of Mr.
Burgin. A copy of the press release is attached as Exhibit 99.1 hereto and is
incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information in this
Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached
hereto, shall not be deemed "filed" for the purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, or otherwise subject to the
liabilities of that section, nor shall it be deemed incorporated by reference in
any filing under the Securities Act of 1933, as amended, or the Securities
Exchange Act of 1934, as amended, except as shall be expressly set forth by
specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Exhibit Description
99.1 Press Release dated May 5, 2020
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