Palisade Bio Announces Inducement Awards Under Inducement Plan for Key New Hires, Including Nick McCoy, Vice President of Clinical Operations
November 23 2021 - 8:00AM
Palisade Bio, Inc. (NASDAQ: PALI), a clinical stage
biopharmaceutical company advancing oral therapies that help
patients with acute and chronic gastrointestinal (GI) complications
(the “Company”), today announced that it had made equity grants to
three new employees under its 2021 Inducement Plan (the “Plan”).
“We are excited to add additional key members to our team to
help us expand our clinical activities. Of particular note, Nick
McCoy joins our leadership team as VP of Clinical Operations and
brings deep experience in conducting successful clinical studies in
the hospital and surgical setting that will be vital to our future
operations,” said Tom Hallam, PhD, CEO of Palisade Bio. “Mr. McCoy
will be a cornerstone of our growing clinical operations and
regulatory affairs leadership team as LB1148 progresses towards
pivotal studies.”
On November 18, 2021, Palisade’s Compensation Committee granted
options, to three new non-executive employees covering an aggregate
of 150,000 shares of the Company’s common stock as an inducement
for such employees to join the Company.
The options granted to the employees vest in equal proportions
each quarter for three years. In all cases, the options are
contingent on each employee’s continued service with the Company at
the applicable vesting date.
About Palisade Bio.
Palisade Bio is a clinical stage biopharmaceutical company
advancing therapies that help patients with acute and chronic
gastrointestinal complications stemming from post-operative
digestive enzyme damage. Palisade Bio’s innovative lead asset,
LB1148, advancing towards Phase 3 a protease inhibitor with the
potential to both reduce abdominal adhesions and help restore bowel
function following surgery. Positive data from Phase 2 trials of
LB1148 demonstrated safety and tolerability as well as a
statistically significant improvement in return to bowel function
and decrease in length of stay in ICU and hospital compared to
placebo. Palisade Bio believes that its investigational therapies
have the potential to address the myriad health conditions and
complications associated with chronic disruption of the
gastrointestinal epithelial barrier. For more information, please
go to www.palisadebio.com.
Palisade Bio Investor Relations
Contact: Dawn Hofmeisterir@palisadebio.com
Palisade Bio Media Relations Contact:CORE
IRJules Abrahamjulesa@coreir.com917-885-7378
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