Seneca Biopharma, Inc. (Nasdaq: SNCA), disclosed on April 23, 2021, the passing of the final proposal required for approval of the proposed merger between Seneca and Leading Biosciences, Inc. The Merger is expected to close on or about April 27, 2021 and the new combined company, Palisades Bio, is expected to begin trading on the Nasdaq Capital Market on or about April 28, 2021 under the ticker "PALI".
Seneca and LBS will announce the final exchange ratio prior to the common stock commencing trading on or about Wednesday, April 28, 2021.
About Leading BioSciences, Inc.
LBS is developing novel therapeutics designed to improve human health through therapeutic protection of the gastrointestinal (GI) mucosal barrier. LBS's initial focus is combatting the interruption of GI function (ileus) following major surgery in order to reduce recovery times and shorten the duration of patient hospital stays. Additionally, LBS believes that its investigational therapies have the potential to prevent the formation of postoperative adhesions (reducing hospital re-admissions and additional surgeries), as well as to address the myriad health conditions and complications associated with chronic disruption of the GI mucosal barrier.
About Seneca Biopharma, Inc.
Seneca Biopharma, Inc., is a clinical-stage biopharmaceutical company developing novel treatments for diseases of high unmet medical need. On December 17, 2020, Seneca announced that it had entered into a definitive Merger Agreement with Leading BioSciences, Inc. (LBS), a privately held company focused on developing novel therapeutics to improve human health through therapeutic protection of the gastrointestinal mucosal barrier The Company received the final approval for the proposed merger at the reconveyance of its virtual special meeting on April 23, 2021. Upon completion of the merger, the company is expected to operate under the name Palisade Bio, Inc. and trade on the Nasdaq Capital Market under the ticker symbol PALI.