PharmAla Biotech believes that this is the largest export permit of MDMA granted to date by Health Canada
Vancouver, BC – January 24, 2023 - PharmAla Biotech Holdings Inc. (“PharmAla”)(CSE: MDMA), a biotechnology company focused on the research, development, and manufacturing of MDXX class molecules (including MDMA) and its manufacturing partners have received an export permit for 300 grams of its LaNeo™ MDMA. PharmAla believes this is the largest single Health Canada export permit ever granted by weight to date.
“We’re incredibly proud of this milestone. It is additional proof that the clinical development of MDMA is moving forward. PharmAla exists to assist our client researchers around the world by not only saying we’ll provide them with research materials, but actually delivering.” said Nick Kadysh, CEO of PharmAla. “The global psychedelics industry is still in its infancy, but strong demand for these molecules helps ensure a foundational role for manufacturers like PharmAla.”
The MDMA is destined for a client in the United Kingdom; the materials will be used in research and development, for a proposed commercial purpose.
PharmAla is the first publicly traded company to manufacture GMP MDMA, and is the first company to make available to researchers two clinical-grade Psychedelic APIs. On January 24th, at 12:00 noon EST, PharmAla will be hosting a webinar for researchers considering the use of its products in upcoming clinical trials.
PharmAla Biotech Holdings Inc. (CSE: MDMA) is a biotechnology company focused on the research, development, and manufacturing of MDXX class molecules, including MDMA. PharmAla was founded with a dual focus: alleviating the global backlog of generic, clinical-grade MDMA to enable clinical trials, and to develop novel drugs in the same class. PharmAla is a “regulatory first” organization, formed under the principle that true success in the psychedelics industry will only be achieved through excellent relationships with regulators. Our team of dedicated professionals includes regulatory experts, scientists, and biomanufacturing professionals. PharmAla has built what it believes to be North America’s first cGMP MDMA value chain, encompassing GMP manufacturing of Active Pharmaceutical Ingredient (API), and drug product formulation. PharmAla’s research and development unit has also begun preclinical research into two patented Novel Chemical Entities (NCEs) based on MDXX class molecules, with proof-of-concept research currently ongoing at the University of Arkansas Medical School.
Nicholas Kadysh, CEO