Enhancing Executive Leadership Team

BATAVIA, New York – September 21, 2022 – First Wave Technologies, Inc. (“First Wave” “FWT” and “Company”), a medical device company developing products for the acute care and long-term care markets, announces it has appointed Adi Raviv as Chief Financial Officer. Mr. Raviv will work closely with First Wave’s executive management and board as the Company moves closer to initiating its clinical trials and to advancing its 510(k) application for CLARITY-IA®, a next-generation inhalation anesthesia system.

Mr. Raviv comes to First Wave with significant financial executive experience in the healthcare sector as well as in capital markets, corporate finance, investment banking, investor relations, and corporate transactions.

“As First Wave enters into a new chapter in the development of CLARITY-IA, the main objective of the Company will be to focus on clinical research in the fields of sedation and inhalation anesthesia. It will also be to further refine our CLARITY-IA platform technology in order to bring to market a simple, safe, and economically-viable solution for sedating patients and delivering inhaled anesthesia and therapeutics during mechanical ventilation. Mr. Raviv’s expertise in working with emerging companies as a C-suite executive and board member, and in particular his healthcare and former investment banking experience, will be of tremendous value, especially during this important time,” stated Brian Bell, Founder and Chief Executive Officer of First Wave.

“I am pleased to be a part of First Wave’s mission to bring long-awaited and much needed advancements in delivering an array of inhaled drugs to patients. As First Wave works to advance CLARITY-IA and prepare for clinical trials, I look forward to leveraging my experience to support First Wave’s business evolution, product development, future growth, and value for shareholders,” added Mr. Raviv.

As further background, Mr. Raviv has served as a CFO for several private and public companies and has sat on the boards of directors of many private and several public companies. He currently sits on the board of directors of BiondVax Pharmaceuticals Ltd. (NASDAQ: BVXV) where he chairs the audit and finance committees and is a member of the compensation and strategy committees. He founded HTI Associates LLC in 1996 and, since then, has served as the managing member of that management consultancy firm that also provides outsourced C-level functions. From 2021 to 2022 Mr. Raviv was the interim CEO of Mirror Biologics, Inc., a clinical-stage biopharmaceutical company.

About First Wave Technologies, Inc.
First Wave Technologies, Inc. is a medical device company developing products for the acute care and long-term care markets. The focus is to disrupt areas of healthcare with innovative products which have not seen meaningful change historically for the improvement of patient care. Current products are centered around improving the ease and accuracy of pharmaceutical delivery. For more information, please visit https://firstwavetechnologies.com.

Corporate Contact:
Brian Bell
Chief Executive Officer and Director
First Wave Technologies, Inc.
99 MedTech Dr.
Batavia, New York 14020
Phone: +1 877.784.0269
E-mail: info@firstwavetechnologies.com

Investor Contact:
Jennifer K. Zimmons, Ph.D., MBA
Investor Relations
Zimmons International Communications
Phone: +1 917.214.3514
E-mail: jzimmons@zimmonsic.com

This press release contains forward-looking information that involves various risks and uncertainties regarding future events related to our IsoVENT and our partnership with Canon. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with the development and commercialization of technology and the practice of medicine, (3) a change in health regulations, (4) any number of events or causes which may delay or cease commercialization and development of the IsoVENT device, (5) the risk that the Company does not execute its business plan or that the companies engaged to develop and obtain regulatory approval for the IsoVENT device do not execute their plans, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.