FOR IMMEDIATE PUBLIC RELEASE 

Redwood Scientific Technologies Announces Search for Interim or Permanent Chief Executive Officer

Company seeks pharmaceutical industry leader with public company and capital markets experience to guide its next stage of development

NEW YORK, August 5, 2026 — Redwood Scientific Technologies, Inc. today announced that it commenced a formal search in mid June 2026 for either an interim or permanent Chief Executive Officer with substantial pharmaceutical industry, public company, and capital markets experience.

The Board of Directors supports the executive search and believes that appointing an experienced pharmaceutical executive represents an important step in strengthening Redwood’s leadership as the Company advances its scientific, clinical, corporate, and commercialization objectives.

Redwood’s founder, who had previously served as Chief Executive Officer, stepped away from the chief executive role and the day to day management of the Company in February 2025. Since that transition, Joe Budd, Redwood’s Chief Operating Officer, has served as Interim Chief Executive Officer.

Upon the appointment of a new Chief Executive Officer, Mr. Budd is expected to continue serving as Chief Operating Officer. He looks forward to working closely with the incoming executive and the Board of Directors to support the Company’s operations and help guide Redwood through its next stage of development.

The Company is seeking a candidate with demonstrated experience within the pharmaceutical or life sciences industries, including experience managing public companies, accessing institutional capital markets, overseeing clinical and regulatory programs, and supporting the development and commercialization of healthcare products.

Redwood believes the addition of an experienced Chief Executive Officer will complement the Company’s existing management team and provide additional leadership as Redwood continues advancing its corporate strategy.

The executive search remains ongoing. Redwood will provide additional information when an appointment has been finalized.

About Redwood Scientific Technologies, Inc.

Redwood Scientific Technologies, Inc. is focused on developing innovative technologies intended to support individuals seeking to transition away from combustible cigarettes, vaping products, and nicotine dependence. The Company is advancing its TBX FREE and TBX VAPE FREE product platforms and continues to develop oral thin film technologies for the smoking and vaping cessation market.

Additional information about Redwood Scientific Technologies is available at:

https://redwoodsci.com

Forward Looking Statement Notice

Certain statements contained in this press release constitute forward looking statements within the meaning of applicable securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied.

Forward looking statements include, but are not limited to, statements regarding the Company’s executive search, the anticipated appointment of a new Chief Executive Officer, future management responsibilities, clinical and product development activities, regulatory strategy, commercialization plans, financing activities, and corporate objectives.

There can be no assurance that the executive search will be completed within any particular period, that a particular candidate will be appointed, or that any executive appointment will produce the anticipated results.

Readers and investors should not place undue reliance on forward looking statements, which speak only as of the date of this press release. Redwood Scientific Technologies undertakes no obligation to update any forward looking statement except as required by applicable law.

Company Contact

Redwood Scientific Technologies, Inc.
Email: info@redwoodsci.co
Website: https://redwoodsci.com