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Leading BioSciences and Seneca Biopharma Announce Merger
GERMANTOWN, Md. and CARLSBAD, Calif., Dec. 17, 2020 /PRNewswire/ Seneca Biopharma, Inc. (Nasdaq: SNCA) ( Seneca ), and Leading BioSciences, Inc. ( LBS ), a privately held company focused on developing novel therapeutics to improve human health through therapeutic protection of the gastrointestinal ( GI ) mucosal barrier, announced today that they have entered into a definitive agreement under which a wholly owned subsidiary of Seneca will merge with LBS in an all-stock transaction. The combined company will focus on advancing LBS s lead pipeline asset, LB1148, in clinical studies to evaluate its potential to improve restoration of normal GI function following major surgery and reduce certain postoperative complications such as abdominal adhesions. Upon completion of the merger, the company is expected to operate under the name Palisade Bio, Inc. and trade on the Nasdaq Capital Market under the ticker symbol PALI. ....

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