- Lead program, GT-2108 for the treatment of moderate-to-severe ulcerative colitis advancing toward completion of I ND-enabling studies with IND filing expected by Q3 2024
- Inflammatory bowel disease (IBD) represents a multi-billion dollar market opportunity with current therapies achieving a clinical remission rate of less than 20% on average
Carlsbad, CA – September 5, 2023 – Palisade Bio, Inc. (Nasdaq: PALI) (“Palisade” or the “Company”), a biopharmaceutical company advancing therapies for acute and chronic gastrointestinal (GI) complications, today announced that it has entered into a licensing agreement with Giiant Pharma, Inc. (“Giiant”). The license provides the Company with the exclusive worldwide rights to develop, manufacture and commercialize Giiant’s proprietary targeted prodrug platform focused on therapies for the multi-billion dollar IBD market. The licensed technologies include Giiant’s precision delivery technology platform and multiple product candidates, including the lead asset in development, GT-2108, an orally administered, gut-restricted, colon-specific phosphodiesterase-4 (PDE4) inhibitor prodrug in development for patients affected by moderate-to-severe ulcerative colitis. The license also includes the rights to GT-1908, which is anticipated to be developed by the Company as a second program, targeting fibro stenotic Crohn’s Disease by means of an oral PDE4 compound.
Under the terms of the license, Palisade obtained the rights to develop, manufacture, and commercialize all compounds from Giiant, existing now and in the future, and any product containing or delivering any licensed compound, in any formulation or dosage for all human and non-human therapeutic uses for any and all indications worldwide. Pursuant to the terms of the license, Palisade will pay a portion of the development costs until the first approval of an IND or CTA (Canadian clinical trial approval), and will thereafter assume all development, manufacturing, and commercialization costs. Additionally, per the license, Palisade will pay (i) certain milestone payments (in cash or stock at Palisade’s election) and (ii) royalty payments based on sales.
“We are incredibly pleased to enter into this licensing agreement with Giiant and transform our GI-focused development pipeline. With current IBD therapies achieving minimal rates of efficacy, there remains a strong need for orally administered, novel solutions that overcome the limitations of current biological medications. We believe the unique mechanism of lead program GT-2108, which enables it to achieve highly localized GI activity, coupled with an established regulatory pathway, provide a unique partnering opportunity in the IBD space. Additionally, this utilizes the capacity of our experienced team, and adds multiple value-driving milestones in the near and long term,” commented J.D. Finley, Chief Executive Officer of Palisade Bio. “This transaction Palisade Bio underscores our commitment to our corporate mission of improving gastrointestinal health and represents an exciting acceleration in our focus to advance innovative therapeutics for the treatment of IBD.”
“Supported by external validation and funding by the US Crohn’s and Colitis Foundation, we strongly believe in the potential of our technology platform and the opportunity to address the unmet medical needs in the treatment of IBD. Palisade Bio has an established GI-focused mission, experienced leadership team and strong balance sheet representing the perfect synergistic partner to take our technology and oral IBD assets to the next level. We look forward to working alongside the Palisade Bio team to advance the development of these important programs and realize their full potential,” added Christophe Mellon, Ph.D., Giiant’s Chief Executive Officer.
As previously announced by Giiant, the development of GT-2108 is supported by a $500,000 grant received from the US Crohn’s and Colitis Foundation, through its IBD Ventures program.
ABOUT GIIANT PHARMA
Giiant Pharma (www.giiant.com), a preclinical-stage biotech company, designs gut-restricted small molecule, drug therapeutics with various biological targets in gastroenterology owing to its proprietary Precision Delivery technology platform. Its first lead program GT-2108 is a microbiota-activated PDE4 inhibitor prodrug, with vastly improved drug tolerability and enhanced therapeutic effect.
ABOUT PALISADE BIO
Palisade Bio (www.palisadebio.com) is a biopharmaceutical company focused on developing therapeutics that protect the integrity of the intestinal barrier. The Company utilizes over three decades of research and established science that links the role of intestinal barrier biology with human disease to advance novel therapeutics that target and improve the integrity of the intestinal barrier. The Company believes that addressing the disruption of the intestinal barrier can fundamentally change the way diseases are treated and establish new standards of patient care. For more information, please go to www.palisadebio.com.
Media Contact
Palisade Bio
JTC Team, LLC (in English only)
Jenene Thomas
E : PALI@jtcir.com
T : 833-475-8247
Giiant Pharma
Maxime Ranger, PhD MBA
Executive Chairman, Giiant Pharma Inc
E : maxime@giiant.com
T: 514.825.9035
Source: Palisade Bio
MONTREAL–(BUSINESS WIRE)–Giiant Pharma Inc., a Canadian, preclinical-stage biotech company, today announced that the Company will receive financial support from the US Crohn’s and Colitis Foundation, through its IBD Ventures program, for an amount up to US$ 500,000. This financing will support the development of GT-2108, an orally administered, gut-restricted, colon-specific PDE4 (phosphodiesterase-4) inhibitor prodrug for patients affected by moderate-to-severe ulcerative colitis.
“The financial support of the Crohn’s and Colitis Foundation demonstrates the strong Giiant’s value proposition of its platform for patients suffering from inflammatory bowel diseases, including ulcerative colitis”
Giiant’s Precision Delivery technology platform uses the gut microbiota to bioactivate various poorly-absorbable prodrug therapeutics in order to locally unravel the pharmacological effect within the gastrointestinal lumen. “The financial support of the Crohn’s and Colitis Foundation demonstrates the strong Giiant’s value proposition of its platform for patients suffering from inflammatory bowel diseases, including ulcerative colitis” says Dr. Maxime Ranger, President and CEO of Giiant Pharma Inc.
With this financing, Giiant Pharma will pursue its IND-enabling preclinical program with its lead candidate, GT-2108, in view of an IND filing by Q2 2024. The Company is currently in discussion with potential pharmaceutical partners to co-develop and accelerate the GT-2108 program.
ABOUT THE CROHN’S & COLITIS FOUNDATION
The Crohn’s & Colitis Foundation is the leading non-profit organization focused on both research and patient support for inflammatory bowel disease (IBD), with the mission of curing Crohn’s disease and ulcerative colitis, and of improving the quality of life of the millions of Americans living with IBD. The Foundation’s work is dramatically accelerating the research process through investment in research initiatives, while also providing extensive educational and support resources for patients and their families, medical professionals, and the public. For more information, visit www.crohnscolitisfoundation.org, call 888-694-8872, or email info@crohnscolitisfoundation.org.
ABOUT GIIANT PHARMA INC
Giiant Pharma (www.giiant.com), a preclinical-stage biotech company, designs gut-restricted small molecule, drug therapeutics with various biological targets in gastroenterology owing to its proprietary Precision Delivery technology platform. Its first lead program GT-2108 is a microbiota-activated PDE4 inhibitor prodrugs, with vastly improved drug tolerability and enhanced therapeutic effect.
Contacts
For more information:
Maxime Ranger, PhD MBA
CEO, Giiant Pharma Inc
E : maxime@giiant.com
T: +1.514.825.9035
MONTREAL–(BUSINESSWIRE)–Giiant Pharma Inc., a Montreal biotech company developing gut-restricted drug therapeutics at the pre-clinical stage in gastroenterology, announced the expansion of its research leadership team with the appointment of Christophe Mellon, PhD.
Christophe’s rich and varied career path led him to leadership positions in pharmaceutical, biotech, and start-up companies for more than 20 years. Recently, he had been appointed to lead a company in the material science industry.
“I am truly excited to join Giiant. I missed managing the numerous multidisciplinary fields that need to come to fruition in synchronicity to progress towards a cure. The team in place is really inspiring and the project rests on a solid foundation. I look forward to meeting each milestone in great company”, said Christophe Mellon.
“We are privileged to have Christophe joining our management team. His appointment will make a true impact on the Giiant technology platform for the development of novel patient-tailored GI therapies”, added Maxime Ranger, CEO of Giiant Pharma.
Holding a PhD from the University of Montreal, and having completed his post-doctorate at MIT, Christophe is an innovative medicinal chemist with a proven track record in entrepreneurship, as a technology inventor, investor and board member.
About Giiant Pharma
Giiant is a preclinical-stage biotech company that designs gut-restricted, tissue-specific, small molecule, drug therapeutics using its proprietary Precision Delivery technology platform which have various biological targets in gastroenterology. Its lead program, GT-2108, is a microbiota-activated PDE4 inhibitor prodrug, with improved drug tolerability and enhanced therapeutic effect.
For more information, please contact:
| Maxime Ranger, PhD MBA CEO, giiant pharma inc. E : maxime@giiant.com T: +1.514.825.9035 |
Véronique Bérubé, LLB Head, Operations & Strategy giiant pharma inc. E: veronique@giiant.com T : +1.514.715.4998 |
MONTREAL–(BUSINESSWIRE)– Giiant Pharma Inc. announced today that is closed an additional financing of $750,000 from AQC Capital (AQC) and $500,000 from CQDM for a total of $1.25 million.
The preclinical-stage biotech Company’s recently closed a Seed round of $13.5 million, co-led by Amplitude Ventures and Genesys Capital and additional financing will support the development of GT-2108 up to clinical Phase 1b completion.
“This is an exciting time for Giiant Pharma as we launch our lead program GT-2108, in additional to our Drug Hunting Club for pipeline expansion”, announced Maxime Ranger, President and CEO of Giiant Pharma Inc. “Our innovative technology platform will transform the field of gastroenterology”.
“We look forward to supporting Giiant as it develops its novel technology platform first focusing across a breadth of potential inflammatory bowel disease (IBD) indications”, says Louis Saint-Jacques, Partner at AQC.
“We are delighted to invest in Giiant; this investment fits with CQDM’s mandate to support innovative biopharma research in Québec and to bridge the gap between early-stage companies and future investors.” said Diane Gosselin, President and CEO at CQDM.
Giiant Pharma already initiated its IND-enabling preclinical program with its lead candidate, GT-2108, for the treatment of moderate-to-severe ulcerative colitis. The team is also in active discussions with potential partners to expand its pipeline of precisely delivered drug therapeutics for gastrointestinal disease.
About Giiant Pharma
Giiant is a preclinical-stage biotech company, with its proprietary Precision Delivery technology platform, designs gut-restricted, tissue-specific, small molecule, drug therapeutics with various biological targets in gastroenterology. Its lead program GT-2108 is a microbiota-activated PDE4 inhibitor prodrugs, with improved drug tolerability and enhanced therapeutic effect.
About AQC Capital
AQC Capital (www.aqccapital.ca) is an early-stage Venture Capital fund with over 150 M$ in assets under management to support Quebec’s start-up ecosystem. Investing alongside successful angels, members of the Anges Québec Network, the AQC Capital team offers active and dynamic support in addition to the capital needed by entrepreneurs to reach new heights. As of today, AQC Capital has invested in 53 innovative companies.
About CQDM
CQDM (www.cqdm.org) is a biopharmaceutical research consortium whose mission is to fund the development of innovative tools and technologies that will accelerate the discovery and development of safer and more effective drugs. CQDM bring together world-class pharmaceutical corporations, several Canadian biotech companies, the best scientists from both the public and private sectors, as well as the Canadian and Quebec governments. CQDM’s collaborative approach bridges the funding gap needed to drive innovation across the academic and private sectors, especially where early-stage research is concerned.
For more information, please contact:
| Maxime Ranger, PhD MBA CEO, giiant pharma inc. E : maxime@giiant.com T: +1.514.825.9035 |
Véronique Bérubé, LLB Head, Operations & Strategy giiant pharma inc. E: veronique@giiant.com T : +1.514.715.4998 |
MONTREAL–(BUSINESSWIRE)–Giiant Pharma Inc., a preclinical-stage biotech company developing gut-restricted drug therapeutics in gastroenterology, announced the appointment of a seasoned executive as an independent board member.
Dr. Marie Lindner worked in various executive roles in pharmaceutical, biotech, venture capital, start-up and medtech companies, spending over 30 years in multiple therapeutic areas, including gastroenterology.
“I am thrilled to join giiant’s endeavor in advancing their lead program GT-2018, and to support them with their various development programs. I believe my background and expertise will be an effective complement to the company’s already strong R&D strategy and business development,” said Dr. Lindner.
“We are privileged to have Marie joining our Board of Directors. Her appointment will be pivotal for the company growth”, added Maxime Ranger, CEO of giiant pharma.
Following an esteemed academic and medical career, Marie Lindner, is active on several boards. She was most recently focused on finding new trends in science and medicine at Novartis, as Global Program Head, Strategic Partnerships Team.
About giiant pharma inc.
giiant is a preclinical-stage biotech company, with its proprietary Precision Delivery technology platform, designs gut-restricted, tissue-specific, small molecule, drug therapeutics with various biological targets in gastroenterology. Its lead program GT-2108 is a microbiota-activated PDE4 inhibitor prodrugs, with improved drug tolerability and enhanced therapeutic effect.
For more information, please contact:
| Maxime Ranger, PhD MBA CEO, giiant pharma inc. E : maxime@giiant.com T: +1.514.825.9035 |
Véronique Bérubé, LLB Head, Operations & Strategy giiant pharma inc. E: veronique@giiant.com T : +1.514.715.4998 |
MONTREAL–(BUSINESSWIRE)–Giiant Pharma Inc., a Montreal-based preclinical-stage biotech company today announced the closing of US$11M (CAD$ 13.5M) million in Seed financing. The round was co-led by Amplitude Ventures and Genesys Capital, with participation from Fonds de solidarité FTQ, AmorChem II Fund, Theodorus Investment Funds, Anges Québec, and other angel investors.
Giiant’s Precision Delivery technology platform originated from the work of former Merck Frosst scientists. The Company has identified GT-2108 as a lead candidate for the treatment of inflammatory bowel diseases (IBD). GT-2108 is an orally-administered, colon-specific PDE4 inhibitor prodrug with potent anti-inflammatory properties. Its unique prodrug format requires activation by the gut microbiota before the drug can elicit its effects. “With a unique ability to deliver an active PDE4 inhibitor to the site of inflammation in the gut, we expect limited systemic exposure and a safer profile” says Dr. Elizabeth Kwong, cofounder and Chief Development Officer of Giiant Pharma Inc. Overall, this improved therapeutic index should translate into a better quality of life for IBD patient.
Repeat entrepreneurs Maxime Ranger and Patrick Colin joined giiant pharma, as Chief Executive Officer and Chief Clinical Officer, respectively. “Precision Delivery is an exciting concept which has the potential to transform the field of gastroenterology”, explains Maxime Ranger, CEO of giiant pharma inc.
“We’re excited to co-lead the financing, and once again partner with this highly-skilled management team”, says Jamie Stiff, Managing Director of Genesys Capital. “giiant pharma is a perfect fit with Amplitude’s vision of creating, building, and growing world-class Canadian precision medicine companies. We’re convinced giiant has the talent and network to deliver on its goal of becoming a leading, global GI franchise that provides ground-breaking precision delivery technologies”, says Amplitude co-founder and partner Jean-Francois Pariseau.
With this financing, giiant pharma initiated its IND-enabling preclinical program with its lead candidate, GT-2108, for the treatment of moderate-to-severe ulcerative colitis. The team is also in active discussions with the aim to further expand its pipeline of precisely delivered drug therapeutics for gastrointestinal disease.
About giiant pharma inc.
giiant is a preclinical-stage biotech company, with its proprietary Precision Delivery technology platform, designs gut-restricted, tissue-specific, small molecule, drug therapeutics with various biological targets in gastroenterology. Its lead program GT-2108 is a microbiota-activated PDE4 inhibitor prodrugs, with improved drug tolerability and enhanced therapeutic effect.
About Amplitude
Amplitude Venture Capital (www.amplitudevc.com) deploys a growth model that has successfully been used to build Canadian companies with world-class management teams and scale companies to breakout potential. Amplitude, with offices in Montreal, Toronto, and Vancouver, launched its first private capital fund in November 2019, a $200-million fund that applies a proven, evidence-based approach to investing in leading Canadian precision medicine companies.
About Genesys Capital
Genesys Capital (www.genesyscapital.com) is one of the largest Canadian-based venture capital firms exclusively focused on the life sciences industry. Genesys is focused on building companies in the high-growth sectors of healthcare and biotechnology. Through its expertise and network, Genesys Capital accelerates the development of commercially viable emerging companies that represent promising life sciences investment opportunities.
About the Fonds de Solidarité FTQ
The Fonds de solidarité FTQ (www.fondsftq.com) is investing in a better society thanks to its over 700,000 shareholder-savers. Through its private equity and venture capital investments, the Fonds seeks to have a positive impact on society, namely in the health, environmental and innovation sectors. With net assets of $15.6 billion as at November 30, 2020, the Fonds supported over 3,300 partner companies and more than 220,000 jobs.
About Amorchem
AmorChem (www.amorchem.com) is a leading early-stage venture fund dedicated to creating the next generation of biotech companies from academic research. Since 2011, with $87 million under management, AmorChem has financed over 33 research programs in academia and accelerated the spin-off and creation of several biotech companies, each with its own ground-breaking therapeutic paradigm. Overall it has led to ten startup companies where AmorChem played a role as founding investor.
About Theodorus Investment Fund
Theodorus Investment Funds (www.theodorus.be) is a venture capital fund active in Belgium and Québec mostly dedicated to seed and early-stage founding, investing in biotech, medtech, digital and engineering applications. Theodorus brings projects numerous key assets helping outstanding researchers and entrepreneurs to create disruptive and innovative companies, with an independent vision oriented towards business and value creation, and a strong network of international experts. Operating since 17 years, Theodorus has €70 million under management in four funds, and has a portfolio of 40 investments.
About Anges Québec
Anges Québec (www.angesquebec.com) is a leader in the Québec early-stage investment ecosystem. To date, its 230 Angel Investors have invested more than $117 million in the Québec economy, counting more than 157 companies in its portfolio.
For more information, please contact:
| Maxime Ranger, PhD MBA CEO, giiant pharma inc E : maxime@giiant.com T: +1.514.825.9035 |
Véronique Bérubé, LLB Head, Operations & Strategy, giiant pharma inc E: veronique@giiant.com T : +1.514.715.4998 |