Aravive, Inc. announced transitions in its board of directors and executive team, effective immediately. Fred Eshelman, Pharm.D., has been unanimously appointed to the board of directors and named chairman of the board. Jay Shepard, Srinivas Akkaraju, M.D., Ph.D., and Robert Hoffman have resigned from the board of directors.

Rekha Hemrajani has resigned as the company's chief executive officer and as a director. Gail McIntyre, Ph.D., the company's chief scientific officer, has been named chief executive officer of Aravive and appointed to the board of directors. Prior to Dr. Eshelman joining the board of directors, Eshelman Venture, LLC, an entity wholly-owned by Dr. Eshelman, purchased from Aravive $5.0 million of the company's common stock.