TORONTO, Sept. 25, 2025 (GLOBE NEWSWIRE) -- 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 signed a distribution agreement with Veridion Group (“Veridion”) of New Zealand, to act as exclusive distribution agent for its LaNeo MDMA in the New Zealand market.
“With the approval of the first Authorized Prescriber for Psilocybin by Medsafe – the New Zealand Medicines and Medical Devices Safety Authority – we immediately saw a number of eminent clinicians express a desire to do the same for MDMA,” said Nick Kadysh, CEO, PharmAla Biotech. “We’re incredibly pleased to have partnered with Veridion to act as our exclusive distributor for New Zealand. Veridion has the expertise we look for in a partner: executing complex operations with controlled pharmaceuticals, and working with doctors to provide exceptional care. Kia ora!”
The distribution agreement includes an annual purchase minimum (waived for the first year), as well as restrictions on re-export. PharmAla anticipates shipping to New Zealand from existing inventory allocated for its Australian operations.
“This partnership with PharmAla is a natural fit. Veridion has built its reputation on handling complex, highly regulated medicines, and PharmAla brings both the science and the track record to match,” said Courtney Letica, CEO, Veridion Group. “Together, we can give New Zealand clinicians confidence that when MDMA treatments become available, access will be safe, controlled, and delivered to the highest standard.”
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Appointment of Dr. Kiyan Afzali as Director for PharmAla Australia
PharmAla is furthermore pleased to appoint Dr. Kiyan Afzali to the board of PharmAla Biotech Australia Pty Ltd. (“PharmAla Australia”). Dr. Afzali is a scientific consultant with nearly a decade of experience in leading impactful translational research through broad expertise in medicine, pharmacology, and drug discovery, and a specialisation in quantitative pharmacodynamics. He earned his PhD from The University of Sydney, where he developed small drug-like molecules as the first potential medicines targeting the receptor for oxytocin, also known as the love hormone or social neuropeptide, to treat some of the largest contributors to the global burden of disease, including neuropsychiatric disorders, cardiometabolic disease, pain, and inflammation. His works have led and instrumentally contributed to significant written compositions, licensed patents, awards, a total of $282m in private investment, and the establishment and maturation of the biotechnology company Kinoxis Therapeutics, including a strategic partnership with the major international pharmaceutical company Boehringer Ingelheim.
“We’re pleased to welcome Dr. Afzali to the team, and look forward to consulting with him on our research and development efforts in Australia, “said Dr. Harpreet Kaur, VP of Research, PharmAla Biotech. “We believe his exceptional expertise in our field of study – as well as his proven track record of commercial success – will help us continue developing PharmAla into the best drug developer of MDMA-like molecules in the world.”
Dr. Afzali’s appointment is effective October 1, 2025.
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