Toronto, ON - March 21, 2025 - PharmAla Biotech Holdings Inc. (“PharmAla” or the “Company”) (CSE: MDMA) (OTC:MDXXF), a biotechnology company focused on the research, development, and manufacturing of novel MDXX class molecules (including its LaNeo™ MDMA), is pleased to announce that it has successfully completed an international shipment of LaNeo™ MDMA to the University of Washington, USA. The MDMA will be used for a pilot trial into the treatment of Narcissism (often called narcissistic personality disorder). This continues the fulfillment of orders for important human research studies in the United States that have chosen to use PharmAla’s pharmaceutical grade LaNeo™ MDMA capsules for their clinical research.
“While we’re incredibly pleased to have delivered a supply of LaNeo™ MDMA to the University of Washington, it has become apparent that US-Canada cross-border trade uncertainty is an ongoing risk for clients,” said Dr. Shane Morris, COO, PharmAla Biotech. “As a result, the PharmAla team is working hard to mitigate such uncertainty, and we look forward to announcing a solution soon.”
Pharmala notes that is regrettable that important US research is detrimentally impacted by tariffs, and calls for all investigational drug products destined for US funded health research studies at US institutions to be exempt from tariffs. By global convention, all investigational drugs destined for clinical research are usually shipped tariff-free.
Appointment of Ali Taghva as Chief Commercial Officer
PharmAla is furthermore pleased to announce that Mr. Ali Taghva will take on new responsibilities, acting as Chief Commercial Officer to the Company, as well as Counsel to the Company.
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
press@pharmala.ca