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.

Led by Tom Hallam, Ph.D., chief executive officer, Palisade Bio is a late-stage biopharma company advancing therapies that help patients with acute and chronic gastrointestinal complications stemming from post-operative digestive enzyme damage. Its innovative lead asset, LB1148, is a Phase 3-ready protease inhibitor with the potential to both reduce abdominal adhesions and help restore bowel function following surgery.