GlobeNewswire Inc | Feb 23, 2021 09:05AM EST

February 23, 2021

- Accomplished executive leader with more than 30 years of experience in finance and operations

PHILADELPHIA, PA, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Vallon Pharmaceuticals Inc. (NASDAQ: VLON), (Vallon or the Company), a clinical-stage biopharmaceutical company primarily focused on the development of novel drugs that are designed to deter abuse in the treatment of CNS disorders, today announced the appointment of Marella Thorell to its Board of Directors, effective as of February 12, 2021 in connection with the closing of the Companys initial public offering.

We are pleased to have Marella join the Board and look forward to the valuable insight she brings. As we continue to advance the Company, I believe Marellas wealth of knowledge and executive leadership experience will be a key asset in the next phase of our growth, commented Ofir Levi, Ph.D., Chairman of Vallons Board of Directors.

Vallon has continued to make great progress, including its recent initial public offering of its common stock. It is an exciting time for the Company, and I am thrilled to add my perspective and industry experience to the Board. I look forward to leveraging my expertise and to working alongside the management team to unlock the full potential of Vallons technology, commented Ms. Thorell.

Ms. Thorell has established a successful track record over the course of her more than 30-year career in finance and operations having successfully led multiple M&A, licensing, and fundraising transactions. She recently joined Centessa Pharmaceuticals Limited, a next-generation biopharmaceutical company, formed by Medicxi through the merger of 10 private biotech companies and completion of a $250M Series A, as Head of Finance. Prior to that, Ms. Thorell served as the Chief Financial Officer of Palladio Biosciences, a privately owned, VC-backed, clinical-stage biopharmaceutical company developing medicines for orphan diseases of the kidney, leading the Companys capital strategy and execution.

Prior to joining Palladio Biosciences, Ms. Thorell served as Chief Financial Officer, Chief Operating Officer and Executive Director of Realm Therapeutics. At Realm, Ms. Thorell was responsible for raising capital to fund the Companys clinical development plans and led M&A and licensing transactions. In 2019 Realm was acquired by ESSA Pharma. Ms. Thorell was appointed to ESSAs Board of Directors. She began her career and earned her CPA at Ernst & Young, LLP. Subsequently, she worked for Campbell Soup Company in finance and operational roles and served as an executive consultant focusing on financial and human capital needs. Ms. Thorell earned a BS in Business from Lehigh University, magna cum laude.

About Vallon Pharmaceuticals Inc.

Vallon Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company, headquartered in Philadelphia, PA. The Company is focused on the development of new medications to help patients with central nervous system (CNS) disorders. The Companys lead investigational product candidate, ADAIR, is a novel abuse deterrent formulation of amphetamine immediate release being developed for the treatment of ADHD and narcolepsy.

For more information about the company, please visit www.vallon-pharma.com or connect with us on LinkedIn or Twitter. Forward Looking Statements

This press release contains forward-looking statements that are based on the Companys current expectations and subject to inherent uncertainties, risks and assumptions that are difficult to predict, including, without limitation, Vallons ability to progress its business and continue its growth. Forward-looking statements may be identified by the use of words such as anticipate, believe, contemplate, could, estimate, expect, intend, seek, may, might, plan, potential, predict, project, target, aim, should, "will, would, or the negative of these words or other similar expressions. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled Risk Factors in the final prospectus related to Vallons initial public offering, filed with the U.S. Securities and Exchange Commission on February 11, 2021. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

Investor Contact:JTC Team, LLCJenene Thomas(833) 475-8247vallon@jtcir.com