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News & Press: Company News

ADial Enters $1.8M Partnership with Cato

Wednesday, November 06, 2013  
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ADial Pharmaceuticals (ADial), based in Charlottesville, has entered into a strategic partnership with Cato BioVentures. Under the terms of the agreement, Cato BioVentures will invest up to $1.8 million in ADial, and Cato Research, an affiliate of Cato BioVentures, will serve as the preferred contract research organization for ADial's clinical trials of AD04, ADial's drug for the treatment of alcohol addiction in patients with selected genotypes.

 

"This partnership provides ADial with the expertise and world-class capabilities of the Cato team," said William Stilley, CEO of ADial. "With our collaboration initiated with Cato, the first Phase III trial of AD04 is expected to begin in the first quarter of 2014."

 

Allen Cato, CEO of Cato BioVentures, commented, "We are excited to enter this strategic relationship with ADial. AD04 has the potential to revolutionize the treatment of alcohol addiction and address this huge unmet medical need. Cato has 25 years of experience helping companies like ADial bring their products to market, and we look forward to a long and productive partnership."

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