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Adial Pharmaceuticals acquires Azora Therapeutics, lines up up to $64 million private placement

PUBT·06/11/2026 15:44:08
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Adial Pharmaceuticals acquires Azora Therapeutics, lines up up to $64 million private placement
  • Adial Pharmaceuticals acquired Azora Therapeutics, adding lead ulcerative colitis candidate AT177, an oral colon-targeted aryl hydrocarbon receptor agonist.
  • A concurrent private placement targets up to USD 64 million gross proceeds, including USD 32 million upfront with a further USD 32 million tied to Phase 1 initiation.
  • Upfront financing includes conversion of outstanding notes assumed in the acquisition, issued as pre-funded warrants priced at USD 2.75 each.
  • Milestone tranches would issue additional pre-funded warrants with accompanying common warrants at a combined USD 2.75 per package.
  • Proceeds are earmarked to advance AT177 through IND-enabling work, with Phase 1a and 1b studies in ulcerative colitis planned from mid-2027.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Adial Pharmaceuticals Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202606111143PRIMZONEFULLFEED9745648) on June 11, 2026, and is solely responsible for the information contained therein.