Board refresh and CEO resignation
MELBOURNE, AUSTRALIA 4 May 2026: Arovella Therapeutics Ltd (ASX: ALA) (Arovella or the Company), a biotechnology company focused on developing its invariant Natural Killer T (iNKT) cell therapy platform, advises that it has received a notice under section 249D of the Corporations Act 2001 (Cth) from a requisitioning shareholder, to remove Dr Michael Baker and Dr Mike Perry as Directors of the Company.
Following receipt of the notice, Dr Michael Baker has resigned as Chief Executive Officer and Managing Director. Dr Baker has provided three months’ notice.
In addition, Dr Andrew Nash, Dr Debora Barton and Dr Mike Perry have resigned as directors of the Company with immediate effect.
The Board has accepted the four resignations and thanks Dr Baker, Dr Nash, Dr Barton and Dr Perry for their contributions to Arovella and wishes them well. Following these changes, the Board of Arovella comprises:
Mr David Williams
Mr Mark Diamond
Mr Michael Thurn
Mr David Williams has been appointed Chairman of the Board.
The Board is undertaking a comprehensive review of the Company’s technology platform, development strategy and growth opportunities, and is optimistic and excited about Arovella’s near-term prospects.
Arovella Chairman Mr David Williams, commented: “The refreshed Board is focused on ensuring Arovella is well positioned for its next phase of development. We will move quickly to review the Company’s technology platform, strategic priorities and growth opportunities, with the objective of creating long-term value for shareholders. The new Board has a fresh set of eyes and plenty of ideas for growth and business development.”