Galmed Pharmaceuticals has announced a corporate rebranding to Eocene, a change in the trading symbol of the company on the Nasdaq Capital Market to "EOCN" and a new website www.EOCN.com.

Derived from the ancient Greek, "Eo-Cene" means "dawn" and "new". The new name and brand are designed to reflect the Galmed's ongoing evolution into an innovative, commercial stage biopharmaceutical and medical device company focused on developing and commercialising breakthrough therapies and technologies that address significant unmet medical needs in gastrointestinal (GI) diseases and GI cancers.

The Eocene name is intended to reflect the company's vision of building a diversified platform focused on advancing innovation across gastrointestinal disease management, surgical technologies and related therapeutic opportunities. The company believes the rebranding better aligns its corporate identity with its current strategic direction following the acquisition of Colospan and the expansion of its focus beyond its historical biopharmaceutical programs.

At the core of this rebranding is the integration and continued development of Colospan, the company's wholly owned subsidiary and a commercial-stage medical device company that has developed a clinically differentiated solution designed to address anastomotic leak complications and the diverting stomas used to manage them following colorectal surgery.

Following the acquisition of Colospan, the company intends to accelerate its strategy to create a diversified, GI-focused medtech and biopharmaceutical platform, combining its GI clinical expertise with Colospan's proprietary device technology and active US pivotal clinical program.

Through the acquisition of Colospan, the company has expanded its strategic focus to include a medical device platform alongside its biopharmaceutical activities. The company believes this combination expands its opportunities across the gastrointestinal market, supported by expertise spanning clinical development, medical devices and potential future commercialisation opportunities.

Galmed is also announcing that it has terminated its SEPA with Yorkville, effective September 8, 2026. The SEPA provided the company with an equity line of up to USD 20 million, and as of the date of termination, Galmed raised approximately USD 7.3 million from the SEPA through the issuance of 437,947 ordinary shares.

Allen Baharaff, President and CEO, Eocene, 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. We believe the Eocene identity better captures who we are today and the future we are working to build as we seek to develop innovative solutions that can improve patient outcomes."

EoCene is building a diversified portfolio of innovative gastrointestinal assets spanning therapeutics, medical devices and enabling technologies. Our strategy combines internal innovation with strategic acquisitions, licensing and partnerships to create long-term value for patients, physicians and shareholders.

Baharaff continued, "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 USD 11.4 million of cash and cash equivalents, short term deposits and marketable debt securities, 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. Because CG-100 is already commercial-ready in Europe and Israel, we believe Colospan may have the potential to generate revenue on a shorter timeline than a traditional drug-development program, and further believe that our current capital resources may enable us to execute on this strategy."

The company also noted that the name and ticker symbol changes do not affect shareholders' ownership interests in the company.

As previously announced, following the notice from the Nasdaq Listing Qualifications Staff on September 3, 2026 that the company had regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2), the company's ordinary shares will continue to be listed and traded on the Nasdaq Capital Market without interruption under the new ticker symbol, and existing shareholders are not required to take any action in connection with the name or ticker symbol change.