News

Adial Pharmaceuticals Appoints Vinay Shah as Chief Financial Officer

Adial Pharmaceuticals, Inc. a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today announced the appointment of Vinay Shah as the Company’s Chief Financial Officer, effective November 16, 2024.

Vinay Shah is an accomplished Chief Financial Officer with over 25 years of experience in the pharmaceutical, biopharmaceutical, and healthcare sectors, specializing in financial strategy, investor relations, and operational efficiency. Most recently, Mr. Shah served as the CFO at Virpax Pharmaceuticals, Inc. (Nasdaq: VRPX), where he focused on implementing fundraising and strategic initiatives, managed all financial operations, and co-managed investor relations. Previously, at Aravive, Inc., Mr. Shah helped raise over $150 million and played integral roles in a major reverse merger and out-licensing efforts in China. At Pacira Pharmaceuticals, Inc., he partnered on the company’s IPO, contributing to S-1 preparation, financial audits, and SEC compliance. His background also includes finance leadership roles at Cardinal Health, Inc. and Jostens Learning Corporation, where he advanced supply chain operations and international business efforts. He began his career with auditing positions at KPMG Peat Marwick and Price Waterhouse Coopers. He received his BA degree from Ranchi University in India and his MBA from Arizona State University in finance.

“We are thrilled to welcome Vinay as our new Chief Financial Officer,” said Cary Claiborne, CEO of Adial Pharmaceuticals. “Vinay brings a wealth of experience in financial strategy within the pharmaceutical industry, and his proven leadership in driving successful capital markets strategies will be invaluable as we advance AD04 and our strategic goals. Additionally, I would like to thank Joe Truluck for his numerous contributions to Adial over the years and wish him the best in his future endeavors.”

“I am excited to join the talented team at Adial Pharmaceuticals during this pivotal time,” said Vinay Shah. “Adial’s commitment to developing innovative treatments that address critical unmet needs aligns with my own passion for advancing impactful healthcare solutions. I look forward to contributing to Adial’s growth and supporting their strategic objectives as we work to deliver value for patients, partners, and shareholders.”

On November 1, 2024, Joseph Truluck notified the CEO of the Company of his decision to resign from his position as the Company’s Chief Financial Officer to pursue other opportunities. Mr. Truluck will remain CFO of the Company until November 15, 2024 and has entered into a consulting agreement with Adial, through March 31, 2025, in order to aid in an orderly transition. Mr. Truluck’s resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices, including any matters concerning the Company’s controls or any financial or accounting-related matters or disclosures.

Read more here.

Recent News

04/23/2025

Grenova Secures New Investment; Appoints Life Sciences Veteran to the Board

Grenova, Inc., a Virginia-based innovator in sustainable laboratory technologies, today announced two significant milestones for the company: the appointment of Ted Hull to Grenova’s board, and the successful completion of a new round of growth equity capital. These developments support Grenova’s strategic vision to drive innovation, expand automation capabilities, and deliver transformative solutions to laboratories

04/22/2025

Phlow Corp. Expands Analytical Capabilities and Embraces Artificial Intelligence-Driven System, Ushering in a New Era of Modern Medicine Manufacturing in America

Phlow Corp., a leading pharmaceutical contract development and manufacturing organization (CDMO) in America, announced a significant expansion in its analytical capabilities, use of artificial intelligence (AI), workforce, and domestic infrastructure. Marking a period of exceptional growth and momentum, Phlow has more than doubled in size and now employs over 90+ highly skilled scientists and professionals

04/22/2025

ATCC Announces New Executive Leadership Appointments

ATCC, the world’s premier biological materials management and standards organization, today announced several new leadership appointments. Rebecca Bradford, MBA, has been promoted to the role of senior vice president of Government Programs, ATCC Federal Solutions (AFS); Manoj Menon, PhD, has joined the company as chief operating officer; and Rupali Lach was appointed vice president of Commercial Operations.