Vaxil Bio Ltd. announced, effective July 31, 2023, in order to reduce costs and preserve cash, Dr. Yuval Avnir, the Company?s CEO will be replaced by Mr. Gadi Levin, the Company?s current chairperson of the board and CFO. The Company further announces, effective July 31, 2023, the appointment of Mr. Alan Rootenberg, as the Company?s CFO. Mr. Rootenberg will be replacing Mr. Gadi Levin, who transitions from the CFO position to the CEO position.

Mr. Rootenberg is a chartered professional accountant who has served as the Chief Financial Officer of a number of publicly traded companies listed on the NASDAQ, TSX, TSXV and CSE. These companies include biotechnology, mineral exploration, service technologies and cannabis research companies. He has also served as a director of a number of publicly traded companies.

Mr. Rootenberg has a Bachelor of Commerce degree from the University of the Witwatersrand in Johannesburg, South Africa and received his CPA designation in Ontario, Canada.