Bellerophon Therapeutics, Inc. announced that each of Peter Fernandes, the Company?s Chief Executive Officer, principal executive officer and principal financial officer, and Parag Shah, the Company?s Vice President of Business Operations, the board of directors of the Company set November 15, 2023 as the separation date for the employment of each of Dr. Fernandes and Mr. Shah. The material terms of the transition and separation agreements were previously disclosed in the Company?s Current Report on Form 8-K filed on August 7, 2023. On November 15, 2023, the Board appointed Craig Jalbert, age 62, as the Company's President, Treasurer and Corporate Secretary and as the Company?s principal executive officer, principal financial officer and principal accounting officer, effective November 15, 2023, and as a member of the Board, effective November 15, 2023, to serve until the next election of directors and thereafter until his successor has been elected and qualified or until his earlier death, resignation or removal.

Mr. Jalbert has not been appointed to any committee of the Board and as of the date hereof is not expected to be appointed to any committee of the Board.