Valion Bio, Inc. (NASDAQ: VBIO), a clinical-stage biopharmaceutical company, has appointed Chief Financial Officer Lisa Wolf to the additional roles of President and Chief Operating Officer, effective immediately, following the departure of former Chief Executive Officer Michael K. Handley.

Wolf will retain her CFO responsibilities while assuming executive leadership of the company. According to a company statement, she will oversee the advancement of Valion's lead product candidate, Entolimod, and direct 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.

The company also announced the appointments of Jared Malbin and Thomas Jensen to its Board of Directors. Malbin brings more than 25 years of financial-services experience and currently serves as Chief Operating Officer of Lucid Capital Markets, LLC. Jensen is the Chief Executive Officer and Co-Founder of Nasdaq-listed Allarity Therapeutics, where he has led the advancement of stenoparib through Phase 2 trials in advanced ovarian cancer.

Valion's lead candidate, Entolimod, is being developed as a potential medical countermeasure for Acute Radiation Syndrome and has received Fast Track and Orphan Drug designations from the U.S. Food and Drug Administration. The company is also developing Entolasta, a next-generation TLR5 agonist targeting broader therapeutic applications including oncology supportive care.

Information in this article is based on a press release issued by Valion Bio.