CytoDyn Appoints Jacob Lalezari M.D. as CEO, Mitchell Cohen as Interim CFO

VANCOUVER, Washington, Jan. 29, 2024 (GLOBE NEWSWIRE) -- CytoDyn Inc. (OTCQB: CYDY) ("CytoDyn" or the "Company"), a biotechnology company developing leronlimab, a CCR5 antagonist with the potential for multiple therapeutic indications, announced today that Dr. Jacob Lalezari, formerly interim CEO, was appointed to the CEO role, effective January 26, 2024.

Dr. Lalezari’s appointment as CEO was made following a robust and competitive search process, carried out by the Company’s Board of Directors over the past seven months with support from international search advisers. CytoDyn Board Chair Tanya Urbach, commented, “Since July 2023, CytoDyn’s board has undertaken a thorough and highly competitive process to identify our next CEO, considering several qualified candidates in detail. Following his appointment as interim CEO in November 2023, a consensus developed by the board that Dr. Lalezari was the outstanding candidate and is the right leader for CytoDyn at this time. We are pleased that he has agreed to assume the longer-term role and continue to lead us during this critical time.”

Dr. Lalezari stated, “I am honored to accept the position of CEO during this crucial transition period for CytoDyn. Our clinical protocol in HIV+ subjects with immune activation has been revised per FDA guidance and, assuming the removal of the current hold on the trial protocol, we hope to initiate the trial this year.”

In addition, the Company announced that Mitchell Cohen has been appointed to the role of interim CFO, effective February 1, 2024, following the resignation of Antonio Migliarese, effective January 31, 2024. Mr. Cohen will be working with Mr. Migliarese to facilitate a smooth transition over the next several weeks.

As to the appointment of Mitch Cohen as interim CFO, Chair Tanya Urbach noted, “We look forward to working with Mr. Cohen. CytoDyn is confident in Mr. Cohen’s ability to lead our financial operations after his successfully serving as CFO and interim executive for numerous companies. Mr. Cohen is working with the company to facilitate a smooth transition in partnership with Mr. Migliarese. We thank Mr. Migliarese for his contributions over the past several years and wish him the very best in his future endeavors.”