OvaScience Names Jeffrey Young CFO - Quick Facts

(RTTNews) - OvaScience (OVAS), a global life sciences company focused on the discovery, development and commercialization of new fertility treatments, announced that it has appointed Jeffrey Young as its Chief Financial Officer. Mr. Young joins OvaScience from Transmedics, Inc., where he served as Chief Financial Officer and Treasurer, leading the finance, accounting, tax and treasury functions.

Prior to serving as CFO of Transmedics, Young was CFO and Treasurer at Lantheus Medical Imaging, Inc.

Before Lantheus, Mr. Young served as Chief Accounting Officer, Vice President of Finance and Treasurer at Critical Therapeutics, and managed the company's transition during its acquisition by Cornerstone BioPharma. Earlier in his career, Mr. Young held finance roles at PerkinElmer, Inc. and PricewaterhouseCoopers.

The Company also announced the grant of an inducement option grant to Mr. Young. The award was approved by the Board's Compensation Committee and ratified by the full Board on September 17, 2014 as an inducement material to Mr. Young's entering into employment with the Company.

The inducement grant consisted of an option to purchase up to 224,000 shares of common stock. The options will be exercisable at a price of $15.67 per share (the closing price on September 17, 2014) and will vest as to 25% of the shares on September 8, 2015, and as to an additional 6.25% of the shares per quarter thereafter, provided that he remains employed by OvaScience on the vesting date.