Tullis to step down from Aethlon board of directors
The company has submitted an application to Nasdaq to be able to offer common stock on the Nasdaq Capital Market. The rule on corporate governance is that a majority of the board of directors for any company must be independent from the company itself. The company had even representation for directors outside of the company and those employed by the company.
"I have enjoyed my role as a director over the years at Aethlon Medical and look forward to continuing to contribute to the company in my ongoing position as chief science officer," Tullis said.
The company states that even with this announcement there is no guarantee that Nasdaq will accept their application.
Aethlon specializes in the development of filtration devices in order to provide treatment against several diseases and infection. The flagship item is the Aethlon Hemopurifier, a device that eliminates infectious material including viral species and material that can lead to cancer development.
According to the company their purifier is an alternative to drug resistant pathogens and in preclinical trials it has been effective in cases of avian and swine influenzas, Dengue hemorrhagic fever, West Nile virus and a reconstructed influenza virus from 1918.