On April 30, 2020, Innovate Biopharmaceuticals, Inc., renamed 9 Meters Biopharma, Inc. (‘Company'), consummated its merger with RDD Pharma Ltd. (“RDD”), in accordance with the terms of a previously disclosed Agreement and Plan of Merger and Reorganization dated as of October 6, 2019, as amended on December 17, 2019, between the Company, RDD, INNT Merger Sub 1 Ltd., and a directly, wholly-owned subsidiary of the Company (‘INNT Merger Sub'), and Orbimed Israel Partners, Limited Partnership, as the Shareholder Representative. Effective upon the consummation of the RDD Merger, Jay P. Madan, Anthony E. Maida III, Ph.D., M.A., M.B.A., and Saira Ramasastry, M.S., M. Phil., resigned from the Innovate Board of Directors and Mark Sirgo, Pharm.D., Nissim Darvish, M.D., Ph.D., and John Temperato were appointed to the Board. The resignation of directors from the Board was not due to a disagreement with the Company on any matter relating to its operations, policies or practices.

Dr. Sandeep Laumas and Mr. Jay P. Madan resigned from their positions as Chief Executive Officer and President and Chief Business Officer of the Company, respectively. Effective upon the consummation of the RDD Merger, the Company entered into an employment agreement with Mr. Temperato for him to serve as the Company's Chief Executive Officer. Mr. John Temperato, 55, served as the Chief Executive Officer of RDD from March 2019 until April 2020.

Prior to joining RDD, Mr. Temperato held various leadership roles, including most notably U.S. President & Chief Operating Officer with Atlantic Healthcare, President & Chief Operating Officer/Chief Commercial Officer with Melinta Therapeutics, and Senior Vice President of Sales and Managed Markets with Salix Pharmaceuticals.