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Board Appoints JD Finley to Interim Chief Executive Officer
Carlsbad, CA, Oct. 11, 2022 (GLOBE NEWSWIRE) — Palisade Bio, Inc. (Nasdaq: PALI), a medical stage biopharmaceutical firm advancing therapies for acute and power gastrointestinal (GI) issues, at this time introduced an govt management transition. Effective October 10, 2022, Thomas Hallam, Ph.D., ceased his duties as chief govt officer (CEO). The firm’s board of administrators has appointed JD Finley, present chief monetary officer (CFO), as interim CEO, and Mr. Finley has assumed the duties of Dr. Hallam efficient October 10, 2022.
“On behalf of my fellow directors, I would like to thank Tom for his dedication to Palisade Bio over the last nine years,” mentioned James R. Neal, chairman of the board of Palisade Bio. “Tom was instrumental in the development LB1148. We thank him for his contributions to the company and wish him the best in his future endeavors.”
Mr. Neal continued, “During this time of transition, the board of directors believes that JD Finley is uniquely qualified to lead Palisade Bio and its continued advancement of LB1148. JD has served as Palisade’s CFO since 2017, during which time he led multiple financings and played a key role in the execution of the company’s 2021 merger with Seneca Biopharma, Inc., which resulted in Palisade Bio’s public listing on Nasdaq. We are pleased to name JD as interim CEO and we look forward to his continued contributions to the company.”
“I have long been committed to the success of Palisade Bio and the clinical advancement of LB1148, and I am honored to assume this leadership role for the company,” mentioned JD Finley, interim CEO of Palisade Bio. “I am a strong believer in the promise of LB1148 for the potential treatment of acute and chronic gastrointestinal complications, and I, along with our dedicated team, will continue the important work of advancing our programs for the benefit of our shareholders and patients worldwide.”
Mr. Finley is an skilled monetary govt, having performed instrumental roles in elevating practically $1 billion in capital for firms as each an inner CFO and an impartial funding banker. Prior to becoming a member of Palisade Bio, Mr. Finley was the chief govt officer, president and CFO for PointAcross, Inc., a software program firm offering business messaging and communications providers. Mr. Finley beforehand co-founded Proteus Capital Partners, Inc., a agency specializing in offering financing for quite a lot of companies, and was CFO at Phillips Capital, a dealer/seller agency specializing in personal debt and fairness capital raises. During his profession, he additionally served as govt vice chairman and CFO of MetroGolf, Inc., the place he efficiently accomplished MetroGolf’s preliminary public providing and was instrumental in rising the start-up firm to over 125 workers.
In order to make sure a easy and well timed transition, the corporate will focus its near-term assets on the inner reorganization. Accordingly, the corporate will not be presenting on the American College of Surgeons (ACS) Clinical Congress 2022, being held October 16 – 20, 2022.
About Palisade Bio
Palisade Bio is a late-stage biopharmaceutical firm targeted on growing therapeutics that shield the integrity of the intestinal barrier. The firm makes use of over three many years of analysis and established science that hyperlinks the position of intestinal barrier biology and human illness to develop novel therapeutics that focus on and enhance the integrity of the intestinal barrier.
The firm’s lead program, LB1148, is a broad-spectrum serine protease inhibitor which acts to neutralize digestive enzymes, doubtlessly decreasing intestinal harm. In a number of medical research, LB1148 has demonstrated constructive leads to accelerating the time to return of postoperative bowel perform, and the corporate lately introduced evaluation that LB1148 diminished the incidence and severity of post-surgical belly adhesions. LB1148 is presently being evaluated in a pivotal Phase 3 medical research for accelerating the return of postoperative bowel perform and in a Phase 2 research for the prevention of post-surgical belly adhesions.
The firm believes that addressing the disruption of the intestinal barrier has the potential to basically change the way in which ailments are handled and to determine new requirements of affected person care. For extra info, please go to www.palisadebio.com.
Forward Looking Statements
This communication comprises “forward-looking” statements for functions of the protected harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements embrace statements relating to Palisade’s intentions, beliefs, projections, outlook, analyses or present expectations regarding, amongst different issues: the potential to basically change the way in which ailments are handled, the completion of enrollment for the Phase 3 research, the potential for the statistically vital Phase 3 information to permit for NDA approval, and the potential for LB1148 to determine the usual of care, if authorized. Any statements contained on this communication that aren’t statements of historic reality could also be deemed to be forward-looking statements. These forward-looking statements are primarily based upon Palisade’s present expectations. Forward-looking statements contain dangers and uncertainties. Palisade’s precise outcomes and the timing of occasions may differ materially from these anticipated in such forward-looking statements on account of these dangers and uncertainties, which embrace, with out limitation, the corporate’s skill to advance its medical packages, the unsure and time-consuming regulatory approval course of; the corporate’s skill to attain further financing to fund medical growth and the corporate’s skill to adjust to the continued itemizing necessities for Nasdaq. Additional dangers and uncertainties may be present in Palisade Bio’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2022. Palisade expressly disclaims any obligation or enterprise to launch publicly any updates or revisions to any forward-looking statements contained herein to mirror any change in Palisade’s expectations with regard thereto or any change in occasions, circumstances or circumstances on which any such statements are primarily based.
Investor Relations Contact
JTC Team, LLC
Jenene Thomas
833-475-8247
[email protected]
Source: Palisade Bio
