The licensing agreement with UVA LVG grants Adial exclusive, worldwide and permanent intellectual property rights that underly and protect AD04, including, but not limited to, patents granted in 44 jurisdictions that may provide market exclusivity for AD04. As part of the licensing agreement, Adial will pay a total of $1,450,000 on the development and authorization bricks ($175,000 on the development bricks, $275,000 upon acceptance of a new drug application by the FDA and $1,000,000 for the authorization of AD04 to sell in the United States, Europe or Japan), a license fee on AD04 sales of up to 2% with an annual license fee of $40,000. and 15% of all sub-licenses generated by third-party sub-licenses. CHARLOTTESVILLE, Va., Dec. 19, 2018 (GLOBE NEWSWIRE) — Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW), www.adialpharma.com, a clinical-stage biopharmaceutical company focused on addiction drug development, today announced that it has amended its licensing agreement with the University of Virginia Patent Foundation, d/b/a of the University of Virginia Licensing & Ventures Group (UVA LVG). Pursuant to this amendment, Adial is scheduled to begin its Phase 3 clinical trial with AD04 for the treatment of alcohol use disorders (AUD) in 2019. Adial has already announced that it plans to launch its Phase 3 clinical trial with AD04 in the first half of 2019. The OsP Contracts Team negotiates funded agreements (CTAS, IFM, etc.) and unfunded agreements (ASA, CDA, etc.). In the case of funded and unfunded agreements, your application will be followed up after the start of the process through ResearchUVA. In addition, researchUVA provides access to documentation relating to your request, including the fully executed agreement.

If you need assistance with a funded contract negotiation, please complete an EPRF. This communication contains certain “forward-looking statements” within the meaning of the U.S. federal valuable materials law. These statements are based on facts and are based on many important assumptions and are subject to known and unknown risks, uncertainties and other factors, which may result in actual results, performance or achievements differing materially from future results, achievements or achievements expressed or implied by such forward-looking statements. Statements preceded by the words “believe”,” “expect,” “anticipate,” “project,” “estimate,” “plan” and similar expressions or future or conditional verbs such as “should,” “could,” “may” and “may” be preceded by or otherwise, are generally forward-looking in nature and not historical facts, although not all forward-looking statements contain the foregoing. . . .