PharmAla will be the initial supplier for clinical materials in a series of Psychedelic therapy clinics planned for opening by Incannex in Melbourne and across Australia
VANCOUVER, April 25, 2023 – Globe Newswire – PharmAla Biotech (MDMA.CSE) is excited to have received a signed purchase order for GMP LaNeo MDMA and Psilocybin by Incannex (IHL.ASX), a NASDAQ-listed psychedelic research company and clinic operator based in Australia.
“A significant number of companies have come to a similar conclusion: only PharmAla Biotech can be trusted to ensure a safe, predictable and regulatory-compliant drug supply for patients in the nascent australian medical Psychedelics market,” said Nick Kadysh, PharmAla’s CEO. “We’re thrilled to be able to supply patients through the network of clinics being set up by Incannex, and believe that this is the start of a wonderful relationship.”
Incannex is a clinical stage pharmaceutical development company that is developing unique medicinal cannabis pharmaceutical products and psychedelic medicine therapies for the treatment of obstructive sleepapnea (OSA), traumatic brain injury (TBI) and concussion, lung inflammation (ARDS, COPD, asthma, bronchitis), rheumatoid arthritis, inflammatory bowel disease, anxiety disorders, addiction disorders, and pain, among other indications.
PharmAla is the first publicly-traded company to manufacture GMP MDMA, and the first company to make available to researchers two GMP Psychedelic APIs. Incannex intends to take possession of their order as soon as permitted by regulatory timelines.
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