Avalo Therapeutics, Inc. announced that on August 8, 2022, Steven Boyd and Keith Maher, MD, both of Armistice Capital, LLC, the investment manager to Armistice Capital Master Fund Ltd., notified the Board of Directors of Avalo Therapeutics, Inc. that they have resigned from their positions on the Board. Mr. Boyd and Dr. Maher's resignations from the Board, effective August 8, 2022, did not arise from any disagreement with the Company, any member of the Board, or Company management regarding any matter related to the Company's operations, policies, practices, or otherwise. The Board appointed the Company's President and Board member, Dr. Garry Neil, M.D., to replace Mr. Boyd as Chairman of the Board.

Current Board member, Dr. Magnus Persson, will continue in the role of Lead Independent Director.