Adial Pharmaceutical Inc. (NASDAQ: ADIL) has announced that its wholly-owned subsidiary Purnovate has signed a research deal with the University of Virginia School of Medicine’s Dr. Mark Roeser for the development of new formulations for the novel adenosine compounds for the treatment of wounds vial transdermal administration.
University of Virginia to fund the preclinical study
Purnovate will provide specific lead adenosine compounds under the terms of the agreement, and Dr. Roeser’s research team will be in charge of analyzing the compounds for efficacy and ascertaining the ideal formulations for optimum absorption with the objective of starting future clinical studies. The University of Virginia will pay for the preclinical research, and the parties will share intellectual property generated.
Roeser said, “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.”
CEO William Stilley said, “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.”
Adial’s drug candidate in Phase 3 ONWARD trial
Stilley added, “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.”
