Exhibit 10.2


 


 


 


Immune Pharmaceuticals Announces Leadership
Transition


 


FORT LEE, NJ (March
7, 2019) - Immune Pharmaceuticals, Inc. (OTC PINK: IMNPQ) (“Immune” or the “Company”), a biopharmaceutical
company developing novel therapeutic agents for the treatment of immunologic and inflammatory diseases, announced that Gary Rabin
has been appointed as President and interim Chief Executive Officer (CEO) and a member of the Board of Directors. He succeeds Tony
Fiorino, MD, PhD, Immune’s former President and interim CEO, who has resigned as an officer of the Company but will remain
a Director. On February 17, 2019, the Company filed a filed a voluntary petition for relief under chapter 11 of the Bankruptcy
Code in the United States Bankruptcy Court for the District of New Jersey (Case No. 19-13273).


 


Dr. Fiorino noted
“At this point in time, Immune needs executive leadership well-versed in corporate restructuring, asset sales and the bankruptcy
process. The Company is fortunate to have found Gary Rabin, who brings a wealth of relevant experience to the table. Gary has previously
served as a consultant to the Company and has a deep understanding of the Company’s programs, capital structure, restructuring
efforts to date, and the chapter 11 process. In my ongoing role as a Director, I intend to focus on the Company’s efforts
to sell or partner the Company’s clinical assets.”


 


Gary H. Rabin,
53, has a 32-year career in finance, investing, biotechnology management, and financial restructuring. He has been the Managing
Member of Vine Holdings Group since 2015. Previously he was the Chairman and CEO of Advanced Cell Technology, Inc., a biotechnology
company in the cell therapy industry, where he led a successful financial turnaround. He has also been the portfolio manager of
three hedge funds in the tech/media/telecom sector. From 1987 until 2002, he was a media and telecom investment banker for some
of the world’s largest investment banking firms including CIBC, ING Barings, UBS and First Boston.


 


About Immune Pharmaceuticals, Inc.


 


Immune Pharmaceuticals Inc. is a biopharmaceutical
company developing novel therapeutic agents for the treatment of immunologic and inflammatory diseases. Immune's lead program,
bertilimumab, is a first-in-class, human monoclonal antibody that targets eotaxin-1, a chemokine that plays a role in immune responses
and attracts eosinophils to the site of inflammation. By blocking eotaxin-1, bertilimumab may prevent the migration and activation
of eosinophils and other cells, thus blocking an important inflammatory pathway active in a variety of allergic and immune diseases.
Bertilimumab has shown promising clinical activity in bullous pemphigoid and has been studied in other conditions including allergic
rhinitis and ulcerative colitis, and may have application in other diseases, including atopic dermatitis, asthma, and other diseases.
For more information, please visit www.immunepharma.com and connect with the Company on Twitter, LinkedIn, and Facebook.


 






     

     


    

 





 


Safe Harbor Statements Regarding Forward
Looking Statements


 


The statements in this news release made
by representatives of Immune relating to matters that are not historical facts are forward-looking statements that involve risks
and uncertainties. There is no assurance that the Company will be able to successfully restructure its operations, effect sales
of or partnerships for its clinical assets on terms acceptable to the Company, if at all, or emerge from bankruptcy as a going
concern. Immune undertakes no obligation to update any of these statements. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as to the date hereof. Accordingly, any forward-looking statements should be
read in conjunction with the additional risks and uncertainties detailed in Immune's filings with the Securities and Exchange Commission,
including those discussed in Immune's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and periodic reports filed on
Form 8-K.


 


Investor Contact


 


Investors@immunepharma.com


SOURCE Immune Pharmaceuticals Inc.