AcquisitionsJun 11, 2026, 11:45 AM
Adial Acquires Azora, Secures $32M Upfront Financing for UC Pipeline
AI Summary
Adial Pharmaceuticals, Inc. announced the acquisition of Azora Therapeutics, Inc., a biopharmaceutical company focused on inflammatory diseases. This acquisition brings Azora's lead asset, AT177, a colon-targeted AhR agonist for ulcerative colitis, into Adial's pipeline. Concurrent with the acquisition, Adial secured an initial $32 million in a private placement, with the potential for an additional $32 million upon Phase 1 clinical study initiation, to fund AT177's development through key clinical milestones. Additionally, Wendy Young, Ph.D., was appointed to Adial's Board of Directors.
Key Highlights
- Adial Pharmaceuticals acquired Azora Therapeutics, gaining its lead asset AT177 for ulcerative colitis.
- Secured an initial upfront financing of approximately $32 million through a private placement.
- Potential for an additional $32 million in gross proceeds upon Phase 1 clinical study initiation.
- Proceeds will advance AT177 through IND-enabling, Phase 1a, and Phase 1b studies in ulcerative colitis.
- Phase 1 clinical study initiation for AT177 is planned for mid-2027.
- Post-transaction, Azora equity holders will own ~51.0% and private placement investors ~41.3% of Adial's common stock.
- Wendy Young, Ph.D., with 32 years of drug discovery experience, was appointed to Adial's Board of Directors.
Price Impact
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