The Board of AdAlta Limited announced that it has accepted the resignation of Ms. Samantha Cobb as Chief Executive Officer and Managing Director. Over the last 12 years as founding CEO, Sam has grown AdAlta from a research-based start-up through to an ASX-listed company commencing a first-in-human clinical program during early 2020. A domestic and international search for a new CEO has commenced.

Sam is working with the Board to hand over her responsibilities during this transition period. The Board and senior management team is equipped and well advanced in executing final pre-clinical toxicity studies ahead of commencing the AD-214 human clinical trial in early 2020. AdAlta also remain focused on continued late-stage discussions regarding partnering on the i-body platform.

Prior to appointment of a new CEO, Mr. Paul MacLeman will act as Executive Chairman supported by the broader Board. As a clinical company, AdAlta enters a new stage of growth and is well supported by an experienced senior leadership team to implement the Company's strategy through clinical trial management, alongside collaborative and in-house pipeline progression.