Palisade Bio (NASDAQ: PALI) Adds Pharmaceutical Industry Executive Robert McRae to Leadership Team
February 15 2022 - 8:30AM
Palisade Bio, Inc. (NASDAQ: PALI), a clinical stage
biopharmaceutical company advancing therapies for acute and chronic
gastrointestinal (GI) complications, announced today that Robert
McRae has joined the senior management team as Senior Vice
President, Operations and Strategic Development. Rob is an
accomplished industry veteran with a proven track record of
execution and will be responsible for internal operations helping
set corporate strategy.
“Rob’s leadership skills are a great addition to our team to
help shape the future of Palisade Bio. His deep understanding and
breadth of experiences in biotech operations and strategy will
serve Palisade Bio well as we advance LB1148 towards Phase 3
clinical trials,” says Tom Hallam, Chief Executive Officer of
Palisade Bio. “We are delighted to have recruited him to complement
our senior management team at this pivotal time for Palisade
Bio.”
Mr. McRae’s experience includes roles in clinical operations and
management of global clinical trials in indications across all
phases of development. He joined Viracta Therapeutics in 2017 and
held several positions there, most recently VP, Operations &
Strategic Alliances. During his tenure, he has been instrumental in
developing strategic academic and pharmaceutical partnerships as
well as guiding R&D operations including clinical, regulatory
and translational activities to effectively execute global trials.
Mr. McRae also supported the company’s transition from private to
public. Prior to joining Viracta, he held positions in both
business development and study management for a global clinical
research organization. Mr. McRae conducted molecular biology and
microbiology research at Wright State University and was the
recipient of a fellowship from The Oak Ridge Institute for Science
Education in areas of biodefense interest with the United States
Air Force Research Laboratory.
“I’m thrilled to be joining Palisade Bio at this critical time
of growth,” states Mr. McRae. “Palisade Bio has thus far remained
under the radar. It has a product in LB1148 that accelerates the
return of postoperative bowel function and reduces post-surgical
adhesions, two large unmet needs that have tremendous healthcare
and economic implications. I’m excited to help advance this lead
drug toward pivotal clinical studies and beyond.”
Separately, Palisade Bio announces that it made equity grants to
new employees under its 2021 Inducement Plan. On February 9, 2022,
Palisade’s Compensation Committee granted options to two new
employees covering an aggregate of 100,000 shares of the Company’s
common stock as an inducement to join the Company.
The options granted to the employee’s 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, is 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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