Allarity Therapeutics, Inc. announced an executive leadership transition. Effective immediately, the Company's Board of Directors has appointed James G. Cullem, J.D., current Chief Business Officer, as interim Chief Executive Officer (CEO) and Joan Y. Brown, CPA, current Director of Financial Reporting, as interim Chief Financial Officer (CFO). Former CEO Steve R. Carchedi and CFO Jens Knudsen have stepped down from those roles to pursue other opportunities.

The Board expects to name a permanent CEO and CFO in H1 2023. Company co-founder Dr. Steen Knudsen, Ph.D., and Dr. Marie Foegh, M.D., will continue in their respective roles as Company's Chief Scientific Officer and Chief Medical Officer. Company co-founder Thomas Jensen will serve in a new role as Senior Vice President of Investor Relations.

Mr. Cullem and Mr. Jensen are expected to take seats on the Board of Directors. Mr. Cullem has served with the Company's senior management team since 2014. He most recently served as its Chief Business Officer, prior to which he served as Senior Vice President of Corporate Development.

He is an experienced biotechnology executive and brings 20+ years of diverse experience in life sciences organizational management, business development and licensing, intellectual property technology transfer/commercialization, alliance management, and strategic planning as a member of various executive teams. During his tenure with Allarity, Mr. Cullem has been responsible for the identification and acquisition of most of the Company's lead clinical oncology assets. He holds a B.S. in Biochemistry from The University of California at Davis, and earned his J.D. from The University of New Hampshire Franklin Pierce School of Law. He is a registered patent attorney before the United States Patent & Trademark Office.

Ms. Brown most recently served as the Company's Director of Financial Reporting, a position she has held since 2021, where she assisted in the Company's move to the U.S. Nasdaq. She brings 20+ years of financial and regulatory reporting and audit experience, including full cycle accounting, payroll, management, and Board reporting. Prior to joining Allarity, Ms. Brown served as a consultant to a range of public and private companies providing financial reporting and regulatory compliance services (including companies with assets and sales of >$500 million), and as Director of Prudential Supervision at the Financial Institutions Commission (FICOM) (Vancouver, BC, Canada).

Ms. Brown is a registered Certified Public Accountant (CPA), a Chartered Accountant (Canada) and holds a bachelor's degree in Business Administration from Simon Frasier University.