10:50 AM EDT, 07/19/2024 (MT Newswires) -- Palisade Bio ( PALI ) said Friday that the European Patent Office has decided to grant notice for product candidate PALI-2108, in development to treat moderate-to-severe Ulcerative Colitis.

Palisade Bio ( PALI ) expects to receive the European patent titled, "Gut Microbiota Bioactivated PDE4 Inhibitor Precursor," for PALI-2108 by July 31, the company said, adding that the patent claims cover the proprietary composition of PALI-2108, an orally administered, locally acting colon-specific Phosphodiesterase-4 inhibitor prodrug being developed for UC.

Palisade Bio ( PALI ) said it is advancing PALI-2108 for moderate-to-severe UC toward a phase 1 clinical study, set to begin by the end of 2024.

Shares of Palisade Bio ( PALI ) were down 2.5% in recent Friday trading.

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