Tiziana Life Sciences CEO Kunwar Shailubhai Resigns

(RTTNews) - Biotechnology company Tiziana Life Sciences Ltd. (TLSA), Friday announced that the Board of Directors has accepted the voluntary resignation of Dr. Kunwar Shailubhai as Chief Executive Officer, Chief Scientific Officer and Board director, effective as of August 1, 2022.

Shailubhai resigned for personal reasons, and his resignation is not related to any disagreement with the company on any matter relating to the company's operations, policies or practices, Tiziana said in a statement.

The Board has appointed Gabriele Cerrone, Executive Chairman of Tiziana, as interim Chief Executive Officer to lead the Company through this period of transition. The Board will begin a search for a permanent Chief Executive Officer and Chief Scientific Officer immediately.

"On behalf of the Board, I want to thank Kunwar for his many years of exceptional service to Tiziana and his commitment to our vision in providing locally acting antibody therapies to patients with unmet needs," said Gabriele Cerrone, Executive Chairman of Tiziana. "We wish Kunwar well in his future endeavors. We continue to advance our foralumab clinical development programs as planned, and will provide a progress update in due course," he added.