Published on 7 Sep 2023 on Zacks via Yahoo Finance

Palisade (PALI) In-Licenses Rights for IBD Candidate, Stock Up

Palisade Bio PALI announced that it is in-licensing exclusive worldwide rights from private biotech, Giiant Pharma, to develop and commercialize gastrointestinal therapies targeting Inflammatory Bowel Disease (IBD). In response to this development, shares of PALI soared 109% on Sep 06.

The therapies targeting the IBD therapeutic area, which has multi-billion-dollar potential, will be developed by leveraging Giiant's proprietary targeted prodrug platform.

The licensed technologies include Giiant’s precision delivery technology platform and all of its promising pipeline candidates. Giiant’s lead candidate, GT-2108, is currently in pre-clinical development for patients suffering from moderate to severe ulcerative colitis. GT-2108 is a colon-specific phosphodiesterase-4 (PDE4) inhibitor prodrug that can be orally administered.