Palisade Bio Enters into Worldwide In-Licensing Agreement with University of California for Technology to Support Target Identification, Drug Discovery, and Clinical Development

Rhea-AI Summary

Palisade Bio, Inc. (Nasdaq: PALI) announces an exclusive licensing agreement with the Regents of the University of California to enhance its technology for detecting protease activity in clinical samples. This agreement expands Palisade's proprietary whole-blood assay, crucial for identifying protease activity linked to chronic GI diseases. The company is advancing its pipeline, particularly with its lead asset LB1148, a Phase 3-ready protease inhibitor showing promising results in a Phase 2 trial. This license is anticipated to bolster Palisade's drug discovery capabilities and patient selection during clinical development.

Positive

• Exclusive licensing agreement with UC enhances protease detection technology.
• Expansion of proprietary whole-blood assay for chronic GI disease identification.
• Lead asset LB1148 is Phase 3-ready and demonstrated positive Phase 2 trial results.

Negative

• None.

First in Class Platform Technology to Detect Protease Activity

CARLSBAD, Calif., July 13, 2021 (GLOBE NEWSWIRE) -- Palisade Bio, Inc. (Nasdaq: PALI) a late-stage biopharma company advancing therapies for acute and chronic gastrointestinal (GI) complications, today announced that it entered into an exclusive license with the Regents of the University of California, expanding its proprietary technology for detecting enzymatic protease activity in human clinical samples. Under the terms of this agreement, in combination with a related 2020 license from UC, the Company receives a worldwide exclusive license to patent rights covering certain engineered substrates and their use in measuring degradative enzymes for disease conditions, including cancer. This technology was originally developed in the laboratory of Dr. Michael Heller at University of California San Diego.

“Many chronic endocrine and inflammatory diseases are associated with chronic proteolytic enzyme leak from the GI tract. We have a deep understanding of the protease biology of the GI tract, and with the license we are expanding our proprietary whole-blood assay to identify the specific protease activity contributing to these diseases. As we expand our pipeline of drug products, these assets form a platform for novel target and drug discovery, as well as highly efficient patient selection and measurement of clinical response during drug development,” said Tom Hallam, Ph.D., CEO of Palisade Bio.

About Palisade Bio, Inc.
Palisade Bio is a late-stage biopharma company advancing therapies that help patients with acute and chronic gastrointestinal complications stemming from post-operative digestive enzyme damage. Palisade Bio’s innovative lead asset, LB1148, is a Phase 3-ready protease inhibitor with the potential to both reduce abdominal adhesions and help restore bowel function following surgery. Positive data from of a Phase 2 trial of LB1148 demonstrated safety and tolerability as well as a statistically significant improvement in return to bowel function and decrease in length of stay in ICU and hospital compared to placebo. Palisade Bio believes that its investigational therapies have the potential to address the myriad health conditions and complications associated with chronic disruption of the gastrointestinal epithelial barrier. For more information, please go to www.palisadebio.com.

Forward Looking Statements
This communication contains “forward-looking” statements, including, without limitation, statements related to expectations regarding expansion of Palisade’s piepline, and other statements related to Palisade’s development programs. Any statements contained in this communication that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements are based upon Palisade’s current expectations. Forward-looking statements involve risks and uncertainties. Palisade’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, related to the Company’s ability to advance its preclinical programs and the uncertain and time-consuming regulatory approval process. Additional risks and uncertainties can be found in Palisade Bio’s (formerly known as Seneca Biopharma, Inc.) Quarterly Report on Form 10-Q for the quarter ended March 31, 2021. Palisade expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Palisade’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

Palisade Bio Investor Relations Contact:
CORE IR
ir@palisadebio.com

Palisade Bio Media Relations Contact:
CORE IR
Jules Abraham
julesa@coreir.com
917-885-73478

Source: Palisade Bio

FAQ

What is the significance of Palisade Bio's licensing agreement with UC?

The licensing agreement allows Palisade Bio to enhance its technology for detecting protease activity, which is crucial for diagnosing chronic gastrointestinal diseases.

What does the Phase 2 trial data indicate for LB1148?

Phase 2 trial data for LB1148 showed safety, tolerability, significant improvement in bowel function return, and reduced ICU and hospital stay compared to placebo.

How does the new technology impact Palisade Bio's future drug development?

The new technology is expected to improve patient selection and measurement of clinical response, thus enhancing the efficiency of their drug development pipeline.

What type of diseases are targeted by Palisade Bio's technology?

The technology targets diseases associated with chronic proteolytic enzyme leaks from the gastrointestinal tract.