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Palisade Bio, Inc. Announces Receipt of Cash Proceeds from Canada’s SR&ED Tax Incentive Program for Reimbursement of Development Costs of PALI-2108 for Treatment of Ulcerative Colitis (UC)
Company through its co-development partner, Giiant Pharma, Inc. (“Giiant”), receives funding from Canadian Scientific Research and Experimental Development
About this update from Palisade Bio, Inc.
[{"type":"text","content":"Company through its co-development partner, Giiant Pharma, Inc. (“Giiant”), receives funding from Canadian Scientific Research and Experimental Development (SR&ED) Tax Credit Program for PALI-2108 Ongoing progress of Palisade Bio’s Phase 1a/b UC study of PALI-2108 with topline data expected in the first half of 2025 Carlsbad, CA, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Palisade Bio, Inc. (Nasdaq: PALI) (“Palisade”, “Palisade Bio”, or the “Company”), a clinical-stage biopharmaceutical company focused on developing and advancing novel therapeutics for patients living with autoimmune, inflammatory, and fibrotic diseases, today announced the receipt of CAD$1.39 million Canadian SR&ED credits for reimbursement of prior pre-clinical costs for PALI-2108 incurred under the company’s joint development plan with Giiant. “This non-dilutive funding, which resulted from our pre-clinical studies previously conducted in Montreal under our co-development agreement with Giiant, bolsters our efforts to potentially bring a solution to patients,” said JD Finley, Chief Executive Officer of Palisade Bio, “We are pleased with the continued progress made with our PALI-2108 program and look forward to reporting topline data in the first half of 2025 from our ongoing Phase 1a/b study.” The Company is currently conducting a Phase 1a/b single-center, double-blind, placebo-controlled study focused on safety, tolerability, pharmacokinetics, and pharmacodynamics in healthy volunteers, alongside an open-label study involving a patient cohort with UC. For more information about the Phase 1a/b clinical study, visit clinicaltrials.gov and reference identifier NCT06663605. About Palisade Bio Palisade Bio is a clinical-stage biopharmaceutical company focused on developing and advancing novel therapeutics for patients living with autoimmune, inflammatory, and fibrotic diseases. The Company believes that by using a targeted approach with its novel therapeutics it will transform the treatment landscape. For more information, please go to www.palisadebio.com. Forward Looking Statements Any statements contained in this communication that are not statements of historical fact may be deemed to be forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited t...