CARLSBAD, CA - Palisade Bio, Inc. (NASDAQ:PALI), a biopharmaceutical company, announced today that it has received a Notice of Allowance from the Canadian Intellectual Property Office for a patent covering its ulcerative colitis (UC) treatment, PALI-2108. This marks a significant milestone for the company as it progresses towards initiating a Phase 1 clinical study for the drug by the end of 2024.
PALI-2108 is an orally administered, colon-specific phosphodiesterase-4 (PDE4) inhibitor prodrug designed to treat patients with UC. The granted patent claims cover the unique composition of PALI-2108, which has demonstrated promising outcomes in preclinical studies. Notably, a significant reduction in disease activity index (DAI) scores and attenuation of body weight loss were observed in a DSS-induced UC mouse model.
The drug's innovative design includes a galactose-derived sugar moiety that ensures minimal absorption until activated by the colonic bacterium enzyme β-glucuronidase. This mechanism allows for localized bioactivation and colon-specific distribution with limited systemic exposure, as confirmed by tissue distribution studies.
J.D. Finley, Chief Executive Officer of Palisade, emphasized the company's commitment to enhancing its intellectual property portfolio and the potential of PALI-2108 to be the first approved PDE4 inhibitor for UC, aiming to offer a next-generation therapeutic option for patients with inflammatory bowel disease.
Palisade Bio's focus on developing novel therapeutics for autoimmune, inflammatory, and fibrotic diseases is underscored by its targeted therapeutic approach. With this latest patent allowance, the company is poised to establish a patent family across multiple geographies, strengthening its position in the market.
The announcement is based on a press release statement and comes as Palisade Bio continues to advance its pipeline of treatments, aiming to transform the treatment landscape for patients with chronic conditions. The company's progress and strategic developments are closely watched by investors and industry stakeholders as it moves towards clinical trials and potential commercialization of its UC treatment.
In other recent news, Palisade Bio has been making strides in its development of PALI-2108, a novel oral PDE4 inhibitor for treating ulcerative colitis. Ladenburg Thalmann, a reputable financial services firm, has maintained a Buy rating for Palisade Bio, citing the drug's potential to improve upon current treatments and offer better clinical remission rates. In addition, Palisade Bio has presented promising preclinical data on PALI-2108 at Digestive Disease Week, further reinforcing its potential efficacy and safety.
The company has also seen changes in its leadership, with the appointment of Margery Fischbein to its Board of Directors. Fischbein brings a wealth of experience from her extensive career in healthcare investment banking and executive roles in the biotechnology industry.
In terms of financial developments, Palisade Bio has secured approximately $4 million in a private placement agreement with an institutional investor, intending to allocate the net proceeds for working capital and general corporate purposes.
Lastly, the company is nearing the initiation of a Phase 1 human clinical study for PALI-2108, following the successful completion of a study indicating the drug's robust anti-inflammatory potential. These are recent developments, providing a snapshot of Palisade Bio's ongoing efforts in the biopharmaceutical space.
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