With COVID-19 and the anxiety that crippled economies, many organizations have turned to collaborations and partnerships to keep going. One of the latest collaborations is Adial Pharmaceuticals Inc. (NASDAQ:ADIL), with Brik LLC.
Adial entered into a distribution agreement with the independent sales and marketing firm to sell and distribute the Rapid Result COVID-19 antibody tests. According to Principal of Brik, Gérard Brikkenaar Van Dijk, the tests are registered under the FDA emergency use authorization (EUA). He also mentioned that they provide results within 10-minutes.
These Are Differentiated Kits with a Significant Market Potential
The impacts of COVID-19 are devastating, and it is not known how long the situation will last before it can be contained. However, through this agreement, William Stilley, the CEO OF Adial Pharmaceuticals, says they are optimistically advancing the presence of potential test kits. The good news is that they can detect both lgG and lgM antibodies, which are linked explicitly to SARS-CoV-2. The detection accuracy of IgG antibodies and IgM antibodies stands at 98.6% and 92.9%, respectively.
‘’We look forward to leveraging our global network of suppliers and end-users to help bring the product to market in a timely and cost-effective manner,” Van Dijk, announced. From the ONWARD™ trial of the tests, Stilley they are already enhancing patient’s safety.
Adial Pharmaceuticals Lead Investigational New Drug Product
The biopharma has a wide portfolio of candidates, and apart from working on a COVID-19 vaccine, it is also developing a treatment for Alcohol Use Disorder (AUD). The treatment is AD04 and is currently under investigation in the company’s landmark ONWARD™ pivotal Phase 3 clinical trial.
From the Phase 2b clinical trial, the treatment demonstrated encouraging results in reducing the regularity of drinking. There were also statistics of controlled heavy drinking. There were no adverse events reported. In addition to treating AUD, it could also be a potential treatment for other addictive disorders like obesity and gambling.
Meanwhile, Brik‘s focus has primarily been on upscaling markets for both consumer and industrial products. This is how it can establish new operations and markets.