The Board of Directors of Jasper Therapeutics, Inc. appointed Ronald Martell, age 60, as the company's President and as a Class III director of the Company, in each case effective upon commencement of his employment with the Company, which is expected to be March 15, 2022. Upon commencement of his appointment, Mr. Martell will assume the duties of the Company's principal executive officer until his successor is duly appointed and qualified, or until his earlier death, resignation or removal. Upon commencement of Mr. Martell's employment with the Company, William Lis, who is serving as President, Chief Executive Officer and Executive Chairman of the Board, will become the non-executive Chairperson of the Board.

Mr. Martell has more than 30 years' experience building and managing unique businesses in the biotech industry. Prior to joining the Company, Mr. Martell served as Chief Executive Officer, President, and a Director of MorphImmune, Inc. since April 2021. Prior to joining MorphImmune, Inc., Mr. Martell served as the President and CEO of Nuvelution Pharma, Inc. from November 2019 to March 2021.