XWPharma Announces $40 Million Financing and Appoints Leonard Blum as Chief Executive Officer

New Board Member Brings Extensive Experience inFinancial Oversight and Governance in the Life Sciences Industry as CompanyAdvances its Pipeline of Novel CNS Therapeutics, Preparing for Future Stages ofGrowth and Development

REDWOOD CITY, Calif. and WUHAN, China, Feb 25, 2021 (GLOBE NEWSWIRE) – XWPharma Ltd. today announced that Glen Giovannetti has been appointed to the company’s Board of Directors. Mr. Giovannetti recently retired following a highly distinguished 36 year career at Big Four Accountancy Ernst & Young, where he served as a Senior Partner and Global Life Sciences Sector Leader.

“We are delighted to welcome Glen to our Board,” said Leonard Blum, XWPharma President and CEO, “His expert counsel will bring important value to our company as we strive to follow the path of many emerging growth companies he has guided, making their way toindustry leadership while maintaining strong financial controls, performanceand shareholder returns.”