Palisade Bio Appoints GI Clinical Expert and Biotech Entrepreneur Mitchell Jones, M.D., Ph.D. as Chief Medical Officer
11 Setembro 2023 - 9:35AM
Palisade Bio, Inc. (Nasdaq: PALI) (“Palisade” or the
“Company”), a biopharmaceutical company advancing therapies for
acute and chronic gastrointestinal (GI) complications, today
announced the appointment of Mitchell Jones, M.D., Ph.D., as Chief
Medical Officer.
Dr. Jones has a proven track record of
successfully developing oral biotherapeutics and locally acting
immunomodulating therapeutics designed to act locally within the
gastrointestinal tract, including for inflammatory bowel disease.
Throughout his career, Dr. Jones has established a reputation for
not only developing technologies and implementing strategies to
de-risk programs from the translational through the clinical
development arc, but he has also monetized, through sale or going
public, several of the assets he has developed.
“We are delighted to welcome Mitch to Palisade
Bio as our Chief Medical Officer. His extensive experience in the
GI space and demonstrated skill at launching and directing program
strategy from early development through late-stage clinical studies
or monetization will be instrumental as we move forward with our
newly expanded GI-focused pipeline. His leadership and background
in translational and clinical research related to locally acting
therapeutics for the treatment of inflammatory bowel disease
positions him as a valuable addition to the Palisade team,”
commented J.D. Finley, Chief Executive Officer of Palisade Bio.
Dr. Jones added, “This is truly an exciting time
for Palisade Bio. Patients with IBD have treatment options with low
clinical response rates, side effects, and tolerability issues. I
believe our recently acquired license to the assets of Giiant
Pharma provides Palisade Bio with the potential to offer
significantly new treatment options that could have a positive
impact on the quality of life for patients living with IBD.”
Dr. Jones most recently served as Vice President
of Corporate Development & Strategy at Chemomab Therapeutics, a
Nasdaq-listed clinical-stage biotechnology company focused on the
discovery and development of innovative therapeutics for fibrotic
and inflammatory diseases with high unmet need. In his role at
Chemomab, Dr. Jones was responsible for spearheading corporate
development and strategy, including guiding program development and
company strategy, evaluating and illustrating differentiation in
the competitive landscape, directing external collaborations and
strategic partnerships, supporting financings and evaluating
potential mergers or acquisitions. Prior to Chemomab, he served as
Vice President Clinical Discovery and Development at Nasdaq-listed
Finch Therapeutics, where he contributed to a successful IPO and
helped oversee the early clinical development of novel therapeutics
for treating IBD, chronic hepatitis B virus infection, and
immunotherapy in solid tumors. Additionally, he served as Vice
President, Innovation and Clinical Translational Development at
Nasdaq-listed Biora Therapeutics, formerly known as Progenity,
where he developed and implemented a strategic roadmap encompassing
all aspects of the business while contributing to both a $125
million venture financing and the company's subsequent IPO. During
his tenure at Biora, Dr. Jones also served as Vice President of
Translational and Clinical Development where he successfully built
the GI therapeutics division.
Additionally, Dr. Jones played an instrumental
role as Head of Research & Development (CMO/CSO) and Founder of
Interface Therapeutics where he was successful at developing a
novel sampling platform that used multi-omics analysis of samples
from remote sections of GI tract to discover and develop locally
acting therapeutics including for IBD. Interface Therapeutics was
acquired by Biora Therapeutics (formerly Progenity). Dr. Jones
began his career as the founder of Micropharma, serving as Head of
Research & Development (CMO/CSO) where he discovered,
developed, and implemented clinical drug development programs,
including all phases of clinical development, for microbiome-based
therapeutics for metabolic and inflammatory disease. Dr. Jones is
the author or co-author of numerous scientific publications and an
inventor on almost 200 filed or granted patents.
Dr. Jones received his M.D. and Ph.D. degrees,
and a Masters in biomedical engineering and a Bachelor of Science
degree, from McGill University in Canada.
Inducement Grant
As an inducement for Dr. Jones to join the
Company as CMO, the Compensation Committee of the Company’s Board
approved the grant of an inducement award in accordance with Nasdaq
Listing Rule 5635(c)(4). The inducement grant was made effective as
of and contingent upon the commencement of Dr. Jones’ employment
with the Company on September 5, 2023, and consists of: (i) 54,700
restricted stock units, or RSUs and (ii) 75,000 common stock
purchase options. The options have a term of ten (10) years, an
exercise price per share of $0.6897, and vest quarterly over three
(3) years provided that Mr. Jones remains employed by the Company.
With respect to the RSUs, 4,556 shares vest on November 6, 2023,
and the remaining 50,144 vest in equal installments over the
following eleven (11) quarterly periods. The inducement grants were
issued pursuant to the terms and conditions of the Company’s 2021
Inducement Plan, as amended.
About Palisade Bio
Palisade Bio 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.
Forward Looking Statements
This communication contains “forward-looking”
statements for purposes of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements regarding the Company’s intentions,
beliefs, projections, outlook, analyses or current expectations
concerning, among other things: the extent of our cash runway; our
ability to successfully develop our licensed technologies;
estimates about the size and growth potential of the markets for
our product candidates, and our ability to serve those markets,
including any potential revenue generated; future regulatory,
judicial, and legislative changes or developments in the United
States (U.S.) and foreign countries and the impact of these
changes; our ability to build a commercial infrastructure in the
U.S. and other markets; our ability to compete effectively in a
competitive industry; our ability to identify and qualify
additional manufacturers to provide API and manufacture drug
product; our ability to enter into commercial supply agreements;
the success of competing technologies that are or may become
available; our ability to attract and retain key scientific or
management personnel; the accuracy of our estimates regarding
expenses, future revenues, capital requirements and needs for
additional financing; our ability to obtain funding for our
operations; our ability to attract collaborators and strategic
partnerships; and the impact of the COVID-19 pandemic on our
business, and operations, and supply. 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 the Company’s current expectations.
Forward-looking statements involve risks and uncertainties. The
Company’s 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 Company’s ability to advance its
clinical programs, the uncertain and time-consuming regulatory
approval process; and the Company’s ability to achieve additional
financing to fund future operations. Additional risks and
uncertainties can be found in the Company’s Annual Report on Form
10-K for the fiscal year ended December 31, 2022, filed with the
Securities and Exchange Commission (“SEC”) on March 22, 2023 as
well as the Company’s Quarterly Report on Form 10-Q, for the six
months period ended June 30, 2023, filed with the SEC on August 10,
2023. These forward-looking statements speak only as of the date
hereof and the Company 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 the Company’s expectations with regard thereto or any change in
events, conditions or circumstances on which any such statements
are based.
Palisade Bio Investor
Relations Contact
JTC Team, LLCJenene Thomas
833-475-8247PALI@jtcir.com
Source: Palisade Bio
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