Azora Therapeutics, formerly Adial Pharmaceuticals, has installed a new leadership team, appointing Matthew Davidson as president and chief executive, Celia Economides as chief financial officer and Julie Saiki as chief strategy officer. The changes took effect October 28, 2026.
Davidson replaces Cary J. Claiborne, and Economides replaces Vinay Shah; both outgoing executives’ employment ended on the effective date. Saiki’s appointment formalizes her move into the top strategy role after serving as executive vice president of strategy.
Key details
- Davidson becomes CEO and remains on the board. He had served as the company’s chief development officer and a director since June 2026. Before joining the company, he led Legacy Azora, the predecessor organization, as co-founder, CEO and board chairman. He also founded and led Verrica Pharmaceuticals and helped develop its FDA-approved treatment for molluscum contagiosum.
- Economides takes over as CFO. She had been executive vice president of finance since August 2026. Her prior roles include CFO of Gritstone bio and interim CEO during its restructuring, as well as finance leadership positions at other biotechnology companies.
- Saiki becomes chief strategy officer. She had been executive vice president of strategy since June 2026 and previously served as co-founder and chief operating officer of Legacy Azora, where she helped advance preclinical drug candidates into clinical development.
- The outgoing CEO and CFO may receive severance. Claiborne and Shah are eligible for payments and benefits under their employment agreements, subject to signing releases. The announcement does not state the amounts.
- No changes to the incoming executives’ compensation were announced. Davidson, Economides and Saiki’s existing compensation arrangements remain unchanged following their appointments.
- Indemnification agreements are in place. Economides and Saiki entered into agreements substantially similar to the company’s standard agreement with Davidson.
Plain-English implications
The changes place Davidson, a former Legacy Azora leader, at the head of the company, while elevating finance and strategy executives who had already joined the organization in 2026. The disclosed appointments do not include changes to their existing compensation arrangements.