GlobeNewswire Inc | Nov 30, 2021 08:00AM EST

November 30, 2021

CARLSBAD, Calif., Nov. 30, 2021 (GLOBE NEWSWIRE) -- Palisade Bio, Inc.(NASDAQ: PALI), a late-stage biopharmaceutical company advancing therapies for acute and chronic gastrointestinal (GI) complications,today announced that the company will be granted a patent from the European Patent Office (EPO) covering its lead investigational drug product, LB1148.The patent will publish on December 22, 2021, and provide protection until 2035.

With the European patent grant, this greatly strengthens the IP protection of our lead drug candidate LB1148 for the global pharmaceutical market. This grant builds upon the corresponding patents in the United States, China, Australia, Japan, India, Mexico, and Taiwan, said Thomas Hallam, Ph.D., CEO of Palisade Bio. We are continuing to strengthen patent protections for LB1148 and its uses across the globe as we advance our clinical studies with LB1148.

AboutPalisade 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 Bios 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 towww.palisadebio.com.

Forward Looking StatementsThis communication contains forward-looking statements, including, without limitation, statements related to expectations regarding Palisades plans for future clinical development of LB1148, plans to continue to strengthen patent protections for LB1148 and the potential for its therapies to address health conditions. Any statements contained in this communication that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements are based upon Palisades current expectations. Forward-looking statements involve risks and uncertainties. Palisades actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, the Companys ability to advance its clinical programs and the uncertain and time-consuming regulatory approval process. Additional risks and uncertainties can be found in Palisade Bios Quarterly Report on Form 10-Q for the quarter endedSeptember30, 2021. Palisade expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Palisades expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

Palisade Bio Investor Relations Contact:Dawn Hofmeisterir@palisadebio.com

Palisade Bio Media Relations Contact:CORE IRJules Abrahamjulesa@coreir.com917-885-7378