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About Palisade Bio Inc
Palisade Bio, Inc, formerly Seneca Biopharma, Inc., is a biopharmaceutical company. The Company is focused on developing therapies that helps patients with acute and chronic gastrointestinal problems from post-operative digestive enzyme damage. Its product candidate, LB1148, is a Phase III-ready protease inhibitor which is developed to reduce abdominal adhesions and help restore bowel function following surgery. It is engaged in developing oral product candidates to treat conditions driven by protease (intestinal digestive enzymes) escaping the intes
Leading BioSciences Closes Merger with Seneca Biopharma; Begins Trading on Nasdaq
Leading BioSciences, Inc. a Carlsbad, CA-based late-stage biopharma company advancing therapies for acute and chronic gastrointestinal (GI) complications, closed its previously announced merger transaction with Seneca Biopharma, Inc.
The combined, publicly traded company will operate under the name Palisade Bio, Inc., and its common stock is expected to commence trading on the Nasdaq Capital Market on April 28, 2021, under the ticker symbol “PALI.”
In addition, the company has announced the closing of the previously announced private placement led by Altium Capital that included $20.0 million in cash plus the cancelation of outstanding principal and interest pursuant to the notes previously issued to the investor.
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GERMANTOWN, Md., April 26, 2021 /PRNewswire/ Seneca Biopharma, Inc. (Nasdaq: SNCA) ( Seneca or the Company ), disclosed on April 23, 2021, the passing of the final proposal required for approval of the proposed merger between Seneca and Leading Biosciences, Inc. ( LBS ). The Merger is expected to close on or about April 27, 2021 and the new combined company, Palisades Bio, is expected to begin trading on the Nasdaq Capital Market on or about April 28, 2021 under the ticker PALI .
Seneca and LBS will announce the final exchange ratio prior to the common stock commencing trading on or about Wednesday, April 28, 2021.
About Leading BioSciences, Inc.
Seneca Biopharma Reports 2020 Yearend Results prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.