Velan Announces Changes to its Board Including the Appointment of Bruno Carbonaro, President and CEO

Velan Inc. (“Velan” or the “Company”) (TSX: VLN) announced today that Mr. Bruno Carbonaro has been appointed as a member of the Board of Directors. The outgoing Director, Yves Leduc, will continue to serve as special advisor to the Chairman of the company. Mr. Carbonaro, who joined the Company in 2019, has recently succeeded Yves Leduc as President and CEO. He has extensive experience in the engineered products industry, having worked in senior leadership positions at various companies.