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Palisade Bio Announces Enrollment of First Patient in Newsoara Phase 3 Clinical Trial Evaluating LB1148
Enrollment triggers milestone payment Carlsbad, CA and Shanghai, China, April 05, 2023 (GLOBE NEWSWIRE) -- Palisade Bio, Inc. (Nasdaq: PALI) (“Palisade” or
About this update from Palisade Bio, Inc.
[{"type":"text","content":"Enrollment triggers milestone payment Carlsbad, CA and Shanghai, China, April 05, 2023 (GLOBE NEWSWIRE) -- Palisade Bio, Inc. (Nasdaq: PALI) (“Palisade” or the “Company”), a biopharmaceutical company advancing therapies for acute and chronic gastrointestinal (GI) complications, announced today that its development partner Newsoara Biopharma Co. Ltd, has enrolled the first patient in its ongoing Phase 3 clinical trial in China. The trial is being fully conducted and funded by Newsoara. “The start of patient enrollment marks an important milestone for our partner Newsoara’s advancement of its Phase 3 LB1148 study in China. We continue to be encouraged by the potential of LB1148 to protect gastrointestinal integrity in surgery patients and look forward to the forthcoming data readout from Newsoara’s study,” commented J.D. Finley, CEO of Palisade Bio. LB1148 is a broad-spectrum serine protease inhibitor which acts to neutralize digestive enzymes, potentially reducing intestinal damage. The Phase 3 trial being conducted in China is designed as a multi-centered, randomized, double-blinded, parallel-group, placebo-controlled clinical trial, and will assess the safety and efficacy of LB1148 to accelerate the return of bowel function following abdominal surgery. All patients enrolled in the trial will undergo a scheduled bowel resection surgery that will include either laparotomy or laparoscopic surgical approaches. “We believe LB1148 has continued to demonstrate the potential to address the delayed return of bowel function, which impacts millions of patients across the globe every year. With the first patient now enrolled in the Phase 3 study, our team is focused on continuing execution of our development plans to advance toward successful completion of the study and data readout. We look forward to potentially bringing LB1148 to patients to improve post-operative outcomes by accelerating postoperative return of GI function and reducing post-surgical adhesions,” said Dr. Benny Li, Newsoara’s Chief Executive Officer. Under the terms of the existing agreement with the Company, Newsoara is responsible for fully performing and funding the development in China, including this Phase 3 study, and will be required to make milestone payments to Palisade upon achievement of certain clinical, regulatory and, if approved, commercial milestones, and...