On October 31, 2018, Dr. Deborah Ascheim gave notice that effective November 1, 2018, she will be resigning as the Chief Medical Officer of Capricor Therapeutics (the ‘Company’). Subject to execution of final documentation, Dr. Ascheim will transition to a consultancy position with the company providing guidance and advice with respect to overall product and clinical development strategies and such other services as may be requested by the company from time to time. The company has also agreed to retain Catherine Lee Kelleher, M.D., an experienced strategic biopharmaceutical physician, to serve as a consultant to the Company in connection with its clinical programs and operations.