AIFF Firefly Neuroscience Inc

Firefly Neuroscience, Inc. (“Firefly,” “we,” or the “Company”) (NASDAQ: AIFF), an Artificial Intelligence (“AI”) company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders, today announced the appointment of Stella Vnook, Ph.D. to its Board of Directors, effective as of August 19, 2024. Dr. Vnook will serve as Chairperson of the Nominating Committee. Dr. Vnook brings over 25 years of experience as a distinguished pharmaceutical executive, serial entrepreneur, CEO and founder of multiple biotech companies and visionary leader with a track record of success in biotechnology and life sciences.

“We are pleased to welcome Stella to our Board and believe she will be an invaluable asset with her visionary leadership, scientific expertise, and entrepreneurial spirit,” said Jon Olsen, Chief Executive Officer of Firefly. “We believe that Dr. Vnook has a proven track record of innovation and success and will help drive strategic growth, foster innovation, and deliver value to Firefly’s shareholders.”

Currently, Dr. Vnook is the CEO of Likarda Biotech, a drug-delivery biotechnology specializing in advanced cell therapy solutions, as well as the Founder and Chair of OralBiolife Biosciences, a biotechnology company specializing in re-mineralization and re-growth of the bone starting with the treatment of periodontal disease. Dr. Vnook serves as an advisor to several startups including Brainstorm Therapeutics, TheraPallet/VitalTE, and Kaida Biopharma. Dr. Vnook is also involved in innovation and venture supporting roles for multiple universities including, but not limited to, Penn State College of Medicine, the University of Pennsylvania, and Rutgers New Jersey Medical School. In her previous roles, Dr. Vnook played a pivotal role in shaping several companies including Merck and Co, Jazz Pharmaceuticals and Catalant as well as small startups. Dr. Vnook holds multiple degrees in science, an M.B.A focused on Global Marketing, a Doctorate in Public Health focused on Health Economics and holds an active license to practice Pharmacy in the State of Pennsylvania.

About FireflyFirefly (Nasdaq: AIFF) is an Artificial Intelligence (“AI”) company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders. Firefly’s FDA-510(k) cleared Brain Network Analytics (BNA™) technology revolutionizes diagnostic and treatment monitoring methods for conditions such as depression, dementia, anxiety disorders, concussions, and ADHD. Over the past 15 years, Firefly has built a comprehensive database of brain wave tests, securing patent protection, and achieving FDA clearance. The Company is now launching BNA™ commercially, targeting pharmaceutical companies engaged in drug research and clinical trials, as well as medical practitioners for clinical use.

Brain Network Analytics was developed using artificial intelligence and machine learning on Firefly’s extensive proprietary database of standardized, high-definition longitudinal electroencephalograms (EEGs) of over 17,000 patients representing twelve disorders, as well as clinically normal patients. BNA™, in conjunction with an FDA-cleared EEG system, can provide clinicians with comprehensive insights into brain function. These insights can enhance a clinician’s ability to accurately diagnose mental and cognitive disorders and to evaluate what therapy and/or drug is best suited to optimize a patient’s outcome.

Please visit https://fireflyneuro.com/ for more information.

Forward-Looking Statements

Certain statements in this press release and the information incorporated herein by reference may constitute “forward-looking statements” for purposes of the federal securities laws concerning Firefly. These forward-looking statements include express or implied statements relating to Firefly’s management teams’ expectations, hopes, beliefs, intentions, or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on current expectations and beliefs concerning future developments and their potential effects. There can be no assurance that future developments affecting Firefly will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond Firefly’s control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: risks related to development and commercialization of BNA technology; risks related to Firefly’s ability to recognize the anticipated benefits of the merger (the “Merger”) with WaveDancer, Inc. (“WaveDancer”); risks related to Firefly’s ability to correctly estimate its operating expenses and expenses associated with the Merger and other events and unanticipated spending and costs that could reduce Firefly’s cash resources; the ability of Firefly to protect its intellectual property rights; competitive responses to the business combination; unexpected costs, charges or expenses resulting from the Merger; potential adverse reactions or changes to business relationships resulting from the completion of the Merger; legislative, regulatory, political and economic developments; and those factors described under the heading “Risk Factors” in the in the registration statement on Form S-4 filed by WaveDancer with the Securities and Exchange Commission on January 22, 2024, as amended, and declared effective on February 6, 2024. Should one or more of these risks or uncertainties materialize, or should any of Firefly’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. It is not possible to predict or identify all such risks. Forward-looking statements included in this press release only speak as of the date they are made, and Firefly does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Investor ContactKCSA Strategic CommunicationsValter Pinto, Managing Director(212) 896-1254Firefly@KCSA.com

Media ContactKCSA Strategic CommunicationsRaquel Cona, Vice President(516) 779-2630Rcona@KCSA.com