CARLSBAD, CA - Palisade Bio, Inc. (NASDAQ: PALI), a biopharmaceutical company, has announced a strategic reduction in its Board of Directors' size, aligning with its current clinical developments and corporate vision. The company's lead program, PALI-2108, an oral treatment for moderate-to-severe ulcerative colitis (UC), is progressing towards a Phase 1 clinical study, with initiation expected before the end of 2024.
The recent restructuring reduced the board from eight to four members to better position the company alongside its peers, while maintaining diversity. Donald Williams steps in as the new Chairman of the Board, succeeding four departing directors.
Palisade Bio has made significant progress with PALI-2108, showcasing positive preclinical data at the 2024 Crohn's & Colitis Congress. The company has also received a second milestone payment from its joint development partner, Giiant Pharma, Inc., through the US Crohn's and Colitis Foundation's IBD Ventures program.
The upcoming milestones for PALI-2108 include completing nonclinical IND/CTA-enabling activities by the end of the third quarter of 2024 and submitting an initial IND/CTA prior to year's end. The company is also conducting ongoing IND/CTA-enabling tox studies.
The company's CEO, J.D. Finley, expressed confidence in the PALI-2108 program's, saying, "We continue to make significant development progress with PALI-2108, our lead program. The program is providing us with a growing body of data that we find encouraging, including support for a precision medicine approach."
The information in this article is based on a press release statement from Palisade Bio.
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