Adial Pharmaceuticals Rebrands as Azora Therapeutics

The corporate restructuring installs Azora co-founders Matt Davidson and Julie Saiki as chief executive officer and chief strategy officer, respectively. Alongside these appointments, the company fleshed out its executive team by naming Celia Economides as chief financial officer, David Rubenstein as chief scientist, and Ajay Duggal as consulting chief medical officer.

Management is now shifting focus toward the development of AT177, a candidate treatment for ulcerative colitis. A Phase 1 clinical trial for the drug is slated to begin in the first half of the year. This transition is backed by $32 million in private placement financing closed during the merger, with the potential for another $32 million tied to the upcoming trial launch.