Eocene Ltd. Rebrands to Focus on GI Health Innovations

Galmed Pharmaceuticals Ltd., now rebranded as Eocene Ltd., has announced a series of significant corporate changes aimed at positioning the company as a leader in the gastrointestinal (GI) health sector. Effective immediately, the company has terminated its Standby Equity Purchase Agreement (SEPA) with YA II PN, LTD. (Yorkville), a move that follows the company’s recent compliance with Nasdaq’s minimum bid price requirement, allowing it to continue trading on the Nasdaq Capital Market under the new ticker symbol "EOCN."

The rebranding, from Galmed Pharmaceuticals Ltd. to Eocene Ltd., reflects a strategic shift towards a more diversified business model. The new name, derived from the ancient Greek words "eo" meaning "dawn" and "cene" meaning "new," symbolizes the company's vision of innovation and the dawn of a new era in GI health. The rebranding is part of Eocene's plan to create a medtech and biopharmaceutical platform that combines its GI clinical expertise with Colospan Ltd., a wholly owned subsidiary and commercial-stage medical device company. Colospan has developed a solution designed to address anastomotic leak complications and diverting stomas used in colorectal surgery.

Eocene's therapeutic portfolio includes Aramchol, a first-in-class synthetic fatty acid-bile acid conjugate molecule, which is being evaluated in liver disease and oncology indications. The company’s flagship product, CG-100, an intraluminal bypass device, is CE marked and approved for investigational use in the United States under an FDA-approved IDE. CG-100 is designed to protect colorectal anastomoses and reduce the need for diverting stomas, offering a less invasive alternative to current surgical practices.

At the end of June, Eocene had $11.4 million in cash and cash equivalents, short-term deposits, and marketable debt securities, providing a solid financial foundation for the company's strategic transition. The acquisition of Colospan has expanded Eocene's focus beyond its historical biopharmaceutical programs, positioning the company to leverage both biopharmaceutical and medical device technologies. This integration aims to accelerate the development and commercialization of breakthrough therapies and technologies that address significant unmet medical needs in GI diseases and GI cancers.

Eocene's leadership believes that the rebranding and the strategic acquisition of Colospan will better align the company’s corporate identity with its current and future goals. President and CEO Allen Baharaff commented, "The introduction of the Eocene name marks an important new chapter for our company. As we continue to advance our business, we are bringing together scientific, clinical, and technological capabilities that we believe position us to address meaningful opportunities across gastrointestinal health and related fields."

Baharaff further stated, "Galmed was historically a pre-revenue biotech, but we believe that our June acquisition of Colospan changes that narrative. As of June 30, 2026, Galmed had $11.4 million of cash and cash equivalents, which we believe provides a solid foundation as we execute our strategic transition from a clinical-stage biotech into a GI-focused biotech/medical-device platform with an asset that provides a potential path toward commercial revenue."

Eocene is dedicated to advancing innovative solutions across gastrointestinal disease management, GI oncology, and related therapeutic areas. The company's strategy combines internal innovation with strategic acquisitions, licensing, and partnerships to create long-term value for patients, physicians, and shareholders. The rebranding does not affect shareholders' ownership interests in the company, and trading will continue on the Nasdaq Capital Market under the new ticker symbol "EOCN."