Effective February 28, 2018, David Bell resigned from the Board of Directors of Aradigm Corporation. Effective March 1, 2018, the Board of Directors of the Company appointed Dr. John Siebert, Executive Chairman of the Board of Directors and Interim Principal Executive Officer of the Company, to serve as Acting Principal Financial Officer of the Company. Dr. Siebert, age 77, has served as a director of the Company since November 2006.

Dr. Siebert is Founder and Chief Executive Officer of Compan Pharmaceuticals Inc. From May 2014 to November 2015, Dr. Siebert was Chief Executive Officer of Chase Pharmaceuticals. From 2010 to 2014, he was a Partner and Chief Operating Officer of New Rhein Healthcare Investors, LLC. From May 2003 to October 2008, Dr. Siebert was the Chairman and Chief Executive Officer of CyDex Inc. From September 1995 to April 2003, he was President and Chief Executive Officer of CIMA Labs Inc. and from July 1995 to September 1995 he was President and Chief Operating Officer of CIMA Labs Inc.