Valion Bio Announces Changes to Management and Board of Directors (Form 8-K)

Valion Bio Announces Changes to Management and Board of Directors

Current CFO, Lisa Wolf named President and COO, assuming expanded executive and operational leadership. Jared Malbin and Thomas Jensen appointed as directors.

SAN ANTONIO, TX / September 1, 2026 / -- Valion Bio, Inc. (Nasdaq: VBIO) ("Valion" or the "Company"), a clinical-stage biopharmaceutical company, today announced strategic changes to its management team and Board of Directors designed to accelerate execution across its clinical and commercial initiatives and position the Company for its next phase of growth.

The Company's Board of Directors has unanimously appointed Lisa Wolf to the expanded roles of President and Chief Operating Officer ("COO"), effective immediately. Ms. Wolf will continue to serve as Chief Financial Officer ("CFO") and will assume executive leadership of the Company following the departure of former Chief Executive Officer, Michael K. Handley.

The expanded role brings Valion's financial, operational and strategic functions under unified leadership at an important inflection point for the Company. Ms. Wolf will oversee the continued advancement of Valion's lead product candidate, Entolimod, while directing the Company's efforts to expand government, international and commercial partnership opportunities.

"Lisa has earned the deep respect and confidence of the Board, and she is uniquely qualified to lead Valion through this next phase of execution and growth," said Sheryle Bolton, Chair of Valion's Board of Directors. "Valion has built a differentiated combination of proprietary science, biomanufacturing infrastructure and significant market opportunities. Our priority now is execution - advancing Entolimod, pursuing commercial and government opportunities, and creating a business model capable of generating sustainable value for shareholders."

"I am energized to assume expanded leadership of Valion at this pivotal stage in the Company's development," Ms. Wolf said. "Our objective is clear: translate the potential of Entolimod and our manufacturing platform into meaningful commercial opportunities while maintaining disciplined capital allocation and execution.

Entolimod has the potential to address significant unmet needs across both ARS and oncology supportive care. Its differentiated approach to cytoprotection provides a compelling foundation for pursuing government, institutional and pharmaceutical opportunities."

Strengthening the Board for Valion's Next Phase

The Company also announces the recent appointments of Thomas Jensen and Jared Malbin as directors to its Board.

Mr. Malbin brings more than 25 years of financial-services experience spanning broker-dealer operations, compliance, finance and capital markets. He currently serves as Chief Operating Officer of Lucid Capital Markets, LLC, a boutique investment-banking broker-dealer, where he oversees firm operations and regulatory strategy across the firm's capital-markets and trading businesses. He has extensive experience building regulatory and compliance functions and guiding firms through regulatory examinations and approval processes. Mr. Malbin also serves on the boards of two private insurance companies. He holds a Bachelor of Arts degree from Tufts University.

Mr. Jensen currently serves as Chief Executive Officer, Co-Founder and Director of Nasdaq-listed Allarity Therapeutics. Under his leadership, Allarity is advancing stenoparib, a dual PARP/WNT inhibitor, through Phase 2 trials in advanced ovarian cancer. Mr. Jensen brings more than 20 years of global biotechnology and oncology experience spanning research and development, corporate strategy and business leadership. He holds a Bachelor of Science degree in Biology from the Technical University of Denmark and conducted further studies in Biology at the University of Copenhagen.

"We are very pleased to welcome Jared and Thomas to Valion's Board," said Ms. Bolton. "Their combined experience across capital markets, regulatory strategy, biotechnology, oncology and corporate development significantly strengthens the Board as we enter our next phase. These appointments also reflect the importance of maintaining strong alignment among Valion, its Board and its shareholders."

Sources

¹ CoherentMI "Acute Radiation Syndrome Market Size and Share Analysis - Growth Trends and Forecasts" https://www.coherentmi.com/industry-reports/acute-radiation-syndrome-market

² Market Research.com "Global Chemotherapy-Induced Neutropenia Treatment Market 2026-2035" https://www.marketresearch.com/Orion-Market-Research-v4261/Global-Chemotherapy-Induced-Neutropenia-Treatment-44733511/

About Valion Bio, Inc.

Valion Bio, Inc. (Nasdaq: VBIO) is developing biologics that activate innate immune pathways for cytoprotection and modulate immune responses in conditions driven by radiation, disease and immune dysregulation.

The Company's lead candidate, Entolimod, is being developed as a potential medical countermeasure for Acute Radiation Syndrome and has been evaluated in animal models under the U.S. Food and Drug Administration's ("FDA") Animal Rule, which allows the Agency to approve new drugs and biological products based on animal efficacy studies when human clinical trials are not ethical or feasible, such as in the case of acute radiation exposure. Entolimod is a novel Toll-like Receptor 5 agonist designed to activate NF-κB signaling pathways associated with cellular protection, tissue recovery and immune response. The product candidate has received Fast Track and Orphan Drug designations from the FDA.

Valion Bio is also advancing Entolasta, a next-generation TLR5 agonist designed for potential use in broader therapeutic applications, including oncology supportive care. The Company's pipeline includes potential programs in neutropenia and immune dysfunction.

For more information, visit www.valionbio.com.