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Aethlon Medical, Inc. (NASDAQ:AEMD), a medical therapeutic company focused on developing products to treat cancer and life threatening infectious diseases, today announced that James B. Frakes, M.B.A., Chief Financial Officer of the Company, was appointed as Interim Chief Executive Officer, replacing Charles J. Fisher, Jr. M.D. Mr. Frakes also was appointed as a member of the Board of Directors and will remain as Chief Financial Officer of the Company. Additionally, Guy Cipriani, formerly Chief Business Officer, has been appointed as the Company's Chief Operating Officer and has resigned from the Board of Directors. Each of the appointments and the resignation took effect on November 7, 2023.
"For many years, both Jim and Guy have been an integral part of Aethlon's success in progressing the advancement of our novel, potentially first-in-class Hemopurifier® technology, and their contributions have been invaluable," stated Edward G. Broenniman, Chairman of the Board of Directors of Aethlon Medical. "The Board and I are confident that Jim's more than 30 years of public company experience will enable him to guide the Company at this time as the Company continues to develop the Hemopurifier for multiple indications. Additionally, Guy's extensive track record in the industry and execution at Aethlon Medical makes him ideally positioned to be our Chief Operating Officer. On behalf of management and the Board, I would also like to take this opportunity to extend our heartfelt thanks to Dr. Fisher for his many years of dedication and service to Aethlon Medical."
"It is truly an exciting time at Aethlon Medical and I am honored to lead the organization on its quest to combat cancer and life-threatening viral infections," stated Mr. Frakes. "In particular, I look forward to initiating our phase 1 safety, feasibility and dose-finding trial of the Hemopurifier in patients with solid tumors, having received clearance in October from the Drug Controller General of India (DCGI), the central drug authority in India. We expect this trial to begin following completion of an internal in vitro binding study of relevant targets, and subsequent approval by the respective Ethics Boards of interested sites in India."
Mr. Frakes initially joined the Company in January 2008, in a part-time role as Senior Vice President-Finance, before being appointed as Chief Financial Officer in September 2010. Prior to joining Aethlon Medical, Mr. Frakes served as the Chief Financial officer of four public companies over a sixteen year period.
Mr. Cipriani joined the Company in June 2018 as Senior Vice President, Chief Business Officer. Until that time, he had spent nearly 20 years in the pharmaceutical and biotechnology industries, acquiring an extensive background in areas such as corporate and business development, strategic planning, alliance management and product development.
Posted In: AEMD
