On April 14, 2022, the Board of Directors of Anixa Biosciences, Inc. promoted Michael Catelani, the current Chief Operating Officer and Chief Financial Officer of the Company, to President of the Company effective immediately. Mr. Catelani will retain his roles as Chief Operating Officer and Chief Financial Officer. In connection with Mr. Catelani's promotion, Mr. Catelani's annual base salary has been increased to $434,512 effective immediately.

Mr. Catelani is replacing Dr. Amit Kumar, the prior President and current Chairman and Chief Executive Officer of the Company. Dr. Kumar is retaining his positions as the Chairman and Chief Executive Officer of the Company.