CELSION CORPORATION (NASDAQ:CLSN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 28, 2020, Dr. Alberto Martinez, a Class II member of the Board of Directors (the “Board”) of Celsion Corporation (the “Registrant”), announced that he has decided to retire from the Registrant’s Board of Directors effective December 31, 2020. Dr. Martinez was a member of the Audit and Compensation Committees of the Board. Reaching 71 years of age in 2021, Dr. Martinez intends to retire for personal reasons and not because of any disagreement with management or the Board relating to the Registrant’s operations, policies or practices. Dr. Martinez’s current term as a Class II director was scheduled to end at the Registrant’s 2021 Annual Meeting of Stockholders. The Registrant anticipates that, by the time of the next regularly scheduled Board meeting in March 2021, an individual will be identified for consideration and recommendation by the Registrant’s Nominating and Governance Committee, and appointment by the Board, to fill the vacancy created by Dr. Martinez’s retirement in accordance with the Registrant’s corporate governance documents.
About CELSION CORPORATION (NASDAQ:CLSN)
Celsion Corporation is an oncology drug development company. The Company’s product candidate is ThermoDox, a heat-activated liposomal encapsulation of doxorubicin, which is in Phase III clinical trial for treatment of primary liver cancer (the OPTIMA Study) and a Phase II clinical trial for treatment of recurrent chest wall breast cancer (the DIGNITY Study). Its pipeline also includes GEN-1, a deoxyribonucleic acid (DNA) mediated immunotherapy for the localized treatment of ovarian and brain cancers. It has over three platform technologies for the development of treatments for those suffering with difficult-to-treat forms of cancer, including Lysolipid Thermally Sensitive Liposomes, a heat sensitive liposomal based dosage form that targets disease with known therapeutics in the presence of mild heat; TheraPlas, a nucleic acid-based treatment for local transfection of therapeutic plasmids, and TheraSilence, a systemic dosage form for lung directed anti-cancer ribonucleic acid (RNA).