On January 29, 2021, Danforth Advisors, LLC (“Danforth”) notified Biostage, Inc. (the “Company”), that Danforth was terminating its Consulting Agreement with the Company. As a result and effective as of such termination, James Mastridge, is no longer serving as the Company’s interim Vice President of Finance or principal accounting and financial officer. The Company is actively in the process of identifying a qualified candidate to serve as the Company’s principal accounting and financial officer.