Tuesday, March 22, 2011

ADial Pharmaceuticals, Led by UVA Profs, Raises $4.1M

According to an SEC filing, ADial Pharmaceuticals, L.L.C., developer of medications to treat addictions, completed a $4.1 million offering.

The company was founded by Prof. Bankole Johnson, who serves as president and chairman.

Dr. Johnson is Alumni Professor and Chairman of the Department of Psychiatry and Neurobehavioral Sciences at the University of Virginia. He is well-known for his discovery of compounds that have been effective in the treatment of alcoholism. Professor Johnson also received national media attention for his appearance in the Home Box Office (HBO) original documentary feature, "Addiction", which won the prestigious Governors Award, a special Emmy Award, from the Academy of Television Arts and Sciences.

Dr. Johnson is named in the filing, along with CEO William B. Stilley and CFO John F. Riccardi; and directors Robert S Capon, Mike L. King, Ming D Li, and Wendy L Yarno.

Capon, King and Li are all members of the University of Virginia faculty. Capon was also the co-founder and former CEO of Charlottesville-based Adenosine Therapeutics.

March 16, 2011

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