On July 19, 2022, the Board of Directors of Processa Pharmaceuticals, Inc. appointed James R. Neal to its Board of Directors, effective immediately. Mr. Neal will serve until the Processa Pharmaceuticals, Inc. 2023 Annual Meeting of Shareholders, or until the earlier of: his death, resignation or removal. Mr. Neal, age 66, is currently the Chief Executive Officer and Chairman of the Board for XOMA, Inc. Mr. Neal serves on the Board of Directors of Palisade Bio, Inc., a clinical-stage biopharmaceutical company, where he is part of their Compensation Committee and is also Chairman of the Board of Directors of Monterey Bio Acquisition Corporation.
The Board elected Mr. Neal because of his extensive experience in the life sciences industry and experience with public companies.