Adial Pharmaceuticals announced on May 13, 2025, that it has received a six-figure development milestone payment from Adovate, LLC. This payment follows the commencement of a Phase 1 clinical trial evaluating Adovate’s lead compound for asthma, ADO-5030.
The milestone payment is a result of Adovate’s exercise of its option to acquire the assets and business of Purnovate, Inc., a wholly owned subsidiary of Adial Pharmaceuticals. The ongoing Phase 1 study is designed to evaluate the safety, tolerability, and pharmacokinetics of ADO-5030 in healthy volunteers.
Under the agreement, Adial is eligible to receive over $50 million in commercial milestone payments and an additional $11 million in development and approval milestone payments per compound, totaling up to $83 million for the first three compounds. Adial also retains a significant equity stake of over 10% in Adovate and low single-digit royalties on net sales.
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