GT Biopharma Completes Management Restructuring

GT Biopharma, Inc. (OTCQB: GTBP) (GTBP.PA) an immuno-oncology biotechnology company focused on innovative treatments based on the Company’s proprietary NK-engager and Bispecific Antibody Drug Conjugate platforms, announced today that it has completed a restructuring of the management team and Board of Directors.

Anthony J Cataldo has been named Chairman and Chief Executive Officer. Mr. Cataldo founded and served as Chairman and Chief Executive Officer at Iovance Biotherapeutics, Inc. He created Iovance with assets purchased from the National Cancer Institute (NCI). Dr. Steven Rosenberg developed the autologous cell therapy technologies of the National Cancer Institute for the treatment of stage four melanoma. Iovance has a market capitalization over $1.3 billion.

Mr. Cataldo is the founder of GT Biopharma, Inc.. He served as Chairman and Chief Executive Officer from July 2014 through April 2018. Mr. Cataldo founded GT Biopharma on the NK cell technology developed by Dr. Jeffrey Miller, Director of the Masonic Cancer Center at the University of Minnesota. The NK cell technology was created for the treatment of solid and liquid tumors. Currently, two FDA clinical trials (phase one and phase two) are underway for the NK cell technology.

Mr. Cataldo stated, “Our TriKe license from the University of Minnesota has continued to progress and we look forward to bringing you news of our TriKe technology assets in the very near future. The new management team finds itself at the same inflection point that Iovance was in when the company made the transition to a NASDAQ company that continues to have a bright future.”

Mr. Steven Weldon has been appointed as Chief Financial Officer and a member of the Board of Directors. Mr. Weldon has over 16 years of financial and accounting experience. Mr. Weldon served on the Board of Directors at GT Biopharma beginning in September 2014 and became the CFO in November 2014. He held both positions through October 2018. Mr. Weldon was appointed Chief Financial Officer and member of the Board of Directors for GB Sciences, Inc. in September 2005 and served in both positions until November 2014. Mr. Weldon also served as Chief Executive Officer of GB Sciences from December 2009 through May 2011 and April 2012 through March 2014. Steven taught accounting and tax courses at Florida Southern College. He holds a Bachelor of Science degree and his MBA for Florida Southern and is a licensed Certified Public Accountant in the state of Florida.

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