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TNI BioTech, Inc. (TNIB) To File Audited Financial Statements, Appoints New Chief Financial Officer

|Includes: Immune Therapeutics, Inc. (IMUN)

TNI BioTech, a biotech company working to combat chronic, life-threatening diseases through the activation modulating the body's immune system, today announced the appointment of Mr. Peter Aronstam as the company's Chief Financial Officer. He is replacing Mr. Christopher Pearce, who will now serve as the Chief Operating Officer.

"Mr. Aronstam's broad-based experience as a finance professional in private and public companies gives him a solid platform for the job of Chief Financial Officer of TNI BioTech," stated Ms. Noreen Griffin, Chief Executive Officer. "We welcome Peter and look forward to working with him as part of the TNI BioTech management team."

"Mr. Pearce has done a tremendous job as Chief Financial Officer. He joined TNI BioTech nine months ago at its onset and has been a great asset to our operations throughout our period of growth and acquisition. I am pleased that Mr. Pearce will be available to assist TNI BioTech during the transition between CFOs, and will also assume the position as Chief Operating Officer. I also wish to thank him for his ongoing commitment to TNI BioTech," added Ms. Griffin.

According to today's press release, TNI BioTech made these changes in connection with the retention of Liggett, Vogt & Webb P.A. This accounting firm has been engaged to provide professionally audited financial statements for inclusion in a Form 10 filing with the SEC in approximately 45 days. This form is essential for TNI BioTech to become a fully reporting company.

Encompassing more than three decades of experience in accounting, finance, banking, international trade, and law to TNI BioTech, Mr. Aronstam's career is noted by a progression of senior finance roles with growth and performance-driven enterprises, from startup technology and Internet companies to small service providers ($50 million) to very large international manufacturers ($25 billion) and global banks.

Peter has advised and/or served as CFO in both publicly held and privately owned businesses since 1978. These include startup venture-capital-backed entrepreneurial companies; manufacturing, technology, and service companies; and corporate and international banking. Other roles included human resources (NYSE:HR) and Information Technology (NYSE:IT) functions along with raising more than $500 million in debt and equity for his companies and their customers.

For more information on TNI BioTech, visit

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