Immunotech Biopharm responds to former executive's resignation allegations

Immunotech Biopharm issued a supplemental announcement today addressing allegations made in the resignation letter of Dr. Wang, who is stepping down as Executive Director, CEO, and Chief Technology Officer. The Board of Directors refuted Dr. Wang's claims of governance failures and inappropriate interference, stating they are unfounded and without merit. Specifically, the company defended its recent internal control enhancements, clarifying that they do not infringe upon the CEO's authority but promote good corporate governance. The Board also addressed concerns regarding a Director's residency and representation of shareholder interests, asserting that the Director effectively performs duties and that there are no requirements for Directors to represent specific shareholders. Immunotech Biopharm affirmed that its governance measures are constantly monitored to ensure compliance and alignment with the company's vision.