Pulmatrix, Inc. announced that Dr. Robert Clarke has stepped down as Chief Executive Officer. Ted Raad will immediately transition from his current role as Chief Business Officer to that of Chief Executive Officer and member of the Pulmatrix Board of Directors. In order to ensure a smooth transition, Dr. Clarke will continue as an advisor to the Board of Directors and Company Management through August 14, 2019.

Mr. Raad joined Pulmatrix in 2017 as Chief Business Officer to provide strategic business guidance and lead all business development efforts, which resulted in a partnership with Cipla Technologies for the development and commercialization of Pulmazole. Mr. Raad brings more than 20 years of experience, including executive leadership roles at Option Care and Sunovion Pharmaceuticals.