Recent Updates
Recently added Catalysts
ADIL

Adial Pharmaceuticals and iRemedy Partner to Sell COVID-19 Antibody Test Kits to U.S. Medical Providers and Commence Sales Charlottesville, VA

Key Takeaway: Adial Pharmaceuticals and iRemedy Partner to Sell COVID-19 Antibody Test Kits to U.S. Medical Providers and Commence Sales Charlottesville, VA - September 22, 2020 - Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW), a clinical-stage biopharmaceutical company focused on the d

Full Press Release Details

Adial Pharmaceuticals and iRemedy Partner
to Sell COVID-19 Antibody Test Kits to U.S. Medical Providers and Commence Sales
Charlottesville, VA -
September 22, 2020 - Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW), a clinical-stage biopharmaceutical company focused
on the development of treatments for addictions and The iRemedy Healthcare Companies, Inc. ("iRemedy"), pioneers of
the iRemedy medical supply marketplace platform, today announced that the two companies have commenced sales of FaStep COVID-19
IgG/IgM rapid antibody test kits to healthcare providers and hospitals through the iRemedy network and ecommerce platform.
As reported previously, Adial
has secured rights to distribute COVID-19 antibody tests to designated channel partners and customers. Antibody test kits distributed
by Adial are FDA emergency use authorization (EUA) registered, 10-minute, instant' point-of-care test devices for the qualitative
detection of lgG and lgM antibodies specific to SARS-CoV-2 virus in human whole blood, serum or plasma specimens. During testing,
the specimen reacts with antigen coated particles in the test cassette after droplets of blood from the subject are placed on the
cassette's coated membrane.
Tony Paquin, Co-Founder and Chief
Executive Officer of iRemedy, commented, "We are delighted to partner with Adial to advance sales of the FaStep COVID-19 antibody
test kits across our network of U.S. healthcare providers and hospitals in order to help address the unmet market need for these
differentiated test kits, given the prolonged and devastating impact of COVID-19. We see a significant market potential in these
instant and efficient tests that provide results within 10-minutes, with the ability to detect IgG antibodies at a 97.3% accuracy
and IgM antibodies at a 99.1% accuracy. With established relationships with over 5,000 healthcare provider clients nationwide,
ranging from private medical practices to major hospitals, we believe iRemedy is an exemplary commercial partner for Adial and
we look forward to continuing to build our sales and distribution relationship."
"We have experienced first-hand
the value of COVID-19 antibody tests, which are being used to enhance patient safety and maximize subject retention during our
ongoing landmark ONWARD pivotal Phase 3 clinical trial of AD04, for the treatment of Alcohol Use Disorder," stated
William Stilley, Chief Executive Officer of Adial Pharmaceuticals. "Given iRemedy's healthcare customer base and distinguished
Medical Advisory Board, we are confident that iRemedy is an ideal partner for Adial. Along with Tony and the entire iRemedy team,
we are aligned in the goal to bring these COVID-19 antibody tests to market in a timely and cost-effective manner. In addition
to the partnership, we are especially excited to have already commenced sales of these important tests on iRemedy.com and appreciate
the support of iRemedy in helping to make these tests broadly available."
For more information on purchasing
FaStep COVID-19 antibody test kits, please contact Keisha Graham at 407-395-4283 or via email at keisha@iremedy.com.
The iRemedy Healthcare Companies
15 years in healthcare supply, iRemedy is a trusted partner for acquiring medical supplies and Personal Protective Equipment. iRemedy
guarantees the access to verified supplies by sourcing directly from established manufacturers and distributors around the world.
The industry-leading technology and group purchasing power help enable transparency and competition, driving low pricing for customers.
iRemedy is headquartered in Stuart, Florida and has offices in New York, California and Washington, and distribution centers in
Florida and Arizona. For more information, please visit www.iremedy.com.
Adial Pharmaceuticals, Inc.
Adial Pharmaceuticals is a clinical-stage
biopharmaceutical company focused on the development of treatments for addictions. The Company's lead investigational new
drug product, AD04, is a genetically targeted therapeutic agent for the treatment of Alcohol Use Disorder (AUD) and is currently
being investigated in a Phase 3 clinical for the potential treatment of AUD in subjects with certain target genotypes, which are
to be identified using the Company's proprietary companion diagnostic genetic test. A Phase 2b clinical trial of AD04 for
the treatment of AUD showed promising results in reducing frequency of drinking, quantity of drinking and heavy drinking (all with
statistical significance), and no overt safety concerns (there were no statistically significant serious adverse events reported).
AD04 is also believed to have the potential to treat other addictive disorders such as opioid use disorder, gambling, and obesity.
contains certain "forward-looking statements" within the meaning of the U.S. federal securities laws. Such statements
are based upon various facts and derived utilizing numerous important assumptions and are subject to known and unknown risks, uncertainties
and other factors that may cause actual results, performance or achievements to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that
otherwise include the words "believes," "expects," "anticipates," "intends," "projects,"
"estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should,"
"would," "may" and "could" are generally forward-looking in nature and not historical facts, although
not all forward-looking statements include the foregoing. The forward-looking statements include statements regarding building
sales and distribution of FaStep COVID-19 antibody tests through the iRemedy network and ecommerce platform, the market potential
in instant and efficient tests that provide results within 10-minutes, iRemedy's healthcare customer base and distinguished
Medical Advisory Board making iRemedy an ideal partner for Adial, bringing COVID-19 antibody tests to market in a timely and cost-effective
manner and the potential of AD04 to treat other addictive disorders such as opioid use disorder, gambling, and obesity. Any forward-looking
statements included herein reflect our current views, and they involve certain risks and uncertainties, including, among others,
our ability to build sales and distribution of FaStep COVID-19 antibody tests through the iRemedy network and ecommerce platform,
our ability to enroll patients and complete clinical trials on time and achieve desired results and benefits, our ability to obtain
regulatory approvals for commercialization of product candidates or to comply with ongoing regulatory requirements, regulatory
limitations relating to our ability to promote or commercialize our product candidates for specific indications, acceptance of
its product candidates in the marketplace and the successful development, marketing or sale of products, our ability to maintain
our license agreements, the continued maintenance and growth of our patent estate, our ability to establish and maintain collaborations,
our ability to obtain or maintain the capital or grants necessary to fund its research and development activities, and our ability
to retain our key employees or maintain our Nasdaq listing. These risks should not be construed as exhaustive and should be read
together with the other cautionary statement included in our Annual Report on Form 10-K for the year ended December 31, 2019, subsequent
Quarterly Reports on Form 10-Q and current reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking
statement speaks only as of the date on which it was initially made. We undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required
For Adial Pharmaceuticals, Inc. For iRemedy Healthcare Companies, Inc.
Crescendo Communications, LLC Keisha Graham
David Waldman / Natalya Rudman keisha@iremedy.com
Tel: 212-671-1021
Email: dwaldman@crescendo-ir.com
Last updated: Sep 22, 2020