Palisade Bio Raises $138M to Advance PALI-2108 in Ulcerative Colitis
Palisade Bio, Inc. (Nasdaq: PALI) has successfully closed a public offering, raising approximately $138 million. The offering, led by B Group Capital and Columbia Threadneedle Investments, will support the Phase 2 clinical development program for PALI-2108 in Ulcerative Colitis.
PALI-2108, the company's first-in-class, ileocolonic-targeted PDE4 B/D inhibitor for IBD, is the focus of this funding. The offering comprised 197,154,844 shares of common stock at $0.70 per share. The proceeds will back the upcoming Phase 2 clinical trial in Ulcerative Colitis. Palisade Bio, a clinical-stage biopharmaceutical company, is dedicated to developing therapeutics for autoimmune, inflammatory, and fibrotic diseases. The offering was facilitated by Ladenburg Thalmann & Co. Inc., acting as the sole book-running manager. Forward-looking statements in the press release are subject to various important factors that could cause actual results to differ materially. Interested parties can obtain copies of the final prospectus from Ladenburg Thalmann & Co. Inc.
The successful offering, with significant participation from leading investors, demonstrates confidence in Palisade Bio's PALI-2108 program. The raised funds will enable the company to advance its Phase 2 clinical trial in Ulcerative Colitis, potentially bringing a new treatment option closer to patients.
