Adial Pharmaceuticals Announces Research Collaboration Agreement with the University of Virginia to Advance Next Generation Adenosine Compounds for Wound Healing
CHARLOTTESVILLE, Va., Sept. 28, 2021 (GLOBE NEWSWIRE) — Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today announced that Purnovate, a wholly owned subsidiary of Adial Pharmaceuticals, has entered into a research agreement with Dr. Mark Roeser from the University of Virginia School of Medicine to develop new formulations of the Company’s proprietary adenosine compounds for wound healing through transdermal administration (i.e., through the skin).
Under the Agreement, Purnovate will supply certain lead adenosine compounds and Dr. Roeser’s research team will be responsible for evaluating these compounds for efficacy and determination of the ideal formulations for maximum absorption with the goal of initiating future clinical trials. The University of Virginia will fund the pre-clinical research activities and the parties will jointly own mutually developed intellectual property.
Dr. Roeser is a renowned cardiac surgeon and medical researcher from the University of Virginia School of Medicine. Previously, Dr. Roeser studied how adenosine 2A receptor activation can attenuate tissue damage caused when blood supply returns to tissue after a lack of oxygen. Currently, Dr. Roeser’s research is focused on wound healing, specifically for the treatment of burns. Through his research, Dr. Roeser was able to conclude that adenosine 2A receptor agonists can mitigate burn progression through dampening of local inflammatory processes.
Dr. Roeser stated, “We are excited to commence our collaboration with Adial to examine the potential of its adenosine compounds as novel therapies for burn and wound healing.”
William Stilley, Chief Executive Officer of Adial Pharmaceuticals, commented, “Dr. Roeser’s background in wound healing will be instrumental as we move an important step closer toward our goal of advancing a new generation of adenosine compounds with the appropriate selectivity and solubility for transdermal penetration. The results of Dr Roeser’s research may establish new IP that can serve to expand the value of our lead compounds. We believe there is enormous market potential for a compound that can promote wound healing, while providing the advantage of easy transdermal administration. There are countless applications for such a therapy and the pressure ulcer wound market alone is expected to reach $11.2 billion by 2026, according to Fortune Business Insights. Given my personal and long-standing family history with the University of Virginia, where I completed my undergraduate studies and my MBA at Darden, and where the Phase 2B study of AD04 for the treatment of Alcohol Use Disorder, Adial’s lead drug currently being studied in our Phase 3 Onward™ trial, was conducted, we welcome this latest collaboration. In addition to wound healing, we are also exploring a number of similar collaborations with premier institutions around other indications.”
About Adial Pharmaceuticals, Inc.
Adial Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the development of treatments for addictions. The Company’s lead investigational new drug product, AD04, is a genetically targeted, serotonin-3 receptor antagonist, therapeutic agent for the treatment of Alcohol Use Disorder (AUD) and is currently being investigated in the Company’s landmark ONWARD™ pivotal Phase 3 clinical trial for the potential treatment of AUD in subjects with certain target genotypes, which are to be identified using the Company’s proprietary companion diagnostic genetic test. A Phase 2b clinical trial of AD04 for the treatment of AUD showed promising results in reducing frequency of drinking, quantity of drinking and heavy drinking (all with statistical significance), and no overt safety concerns (there were no statistically significant serious adverse events reported). AD04 is also believed to have the potential to treat other addictive disorders such as Opioid Use Disorder, gambling, and obesity. The Company is also developing adenosine analogs for the treatment of pain and other disorders. Additional information is available at www.adialpharma.com.