Estrella Immunopharma, Inc. announced on October 25, 2026, that Cynthia Pussinen has been appointed as Chief Executive Officer and Chairperson of the Board. The appointment is effective immediately, and she has also been named a Class I director. Ms. Pussinen, age 57, succeeds Cheng Liu, Ph.D., who will now serve as Chief Scientific Officer while retaining his roles as President and director.
Ms. Pussinen’s prior experience includes serving as Managing Director of Biotech Investments at Sorbie Bornholm Ltd. from March 2026 to October 2026, and as CEO and director of Sernova Corp. from August 2023 to August 2024. She previously served as Chief Technical Officer of Spark Therapeutics, Inc., a gene therapy company, from January 2021 to November 2022.
The Company entered into an Employment Agreement with Ms. Pussinen that includes an annual base salary of $250,000, which will increase to $400,000, $450,000, and $525,000 when cumulative qualifying funding received by the Company exceeds $35.0 million, $55.0 million, and $75.0 million, respectively. She is also eligible for an annual cash bonus with a target of 60% of base salary for 2026, and 55% to 70% thereafter. The agreement provides for severance benefits of 12 months of base salary and acceleration of unvested equity awards in the event of a change in control.
In connection with the appointment, the Company granted Ms. Pussinen an option to purchase 1,000,000 shares of common stock. The option will vest 25% on October 25, 2027, and the remainder in 36 equal monthly installments thereafter, subject to her continued service. The Company also amended the employment agreements of Dr. Liu and Chief Financial Officer Jiandong (Peter) Xu to align their compensation and severance terms with those of Ms. Pussinen.
Separately, the Board adopted resolutions regarding the Company’s director structure. The Board will not leave any class of directors unoccupied and will fill any class that would otherwise have no members. The Board also proposed an amendment to Article V, Section A of the Company’s Second Amended and Restated Certificate of Incorporation to eliminate the authority to leave classes unoccupied. This proposed amendment will be submitted to stockholders for approval at the 2027 annual meeting of stockholders.
