According to filings with the U.S. Securities and Exchange Commission, Adial Pharmaceuticals is raising $3,998,582.00 in new funding. Sources indicate that as part of senior management Chief Executive Officer, Cary Claiborne played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.

About Adial Pharmaceuticals
Adial Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the development of treatments for addictions. The Companys 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 Companys landmark ONWARD Phase 3 clinical trial for the potential treatment of AUD in subjects with certain target genotypes, which are to be identified using the Companys 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.

To learn more about Adial Pharmaceuticals, visit http://www.adialpharma.com/

Contact:
Cary Claiborne, Chief Executive Officer
434-422-9800

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