Toronto, ON – February 10th, 2026 - PharmAla Biotech Holdings Inc. (“PharmAla” or the “Company”) (CSE: MDMA) (OTCQB:MDXXF), a biotechnology company focused on the research, development, and manufacturing of LaNeo™ MDMA and novel derivatives of MDMA (MDXX class molecules), is pleased to announce changes to the makeup of its Board of Directors.
Effective Monday, February 9, 2026, PharmAla regretfully accepts the resignation of Dr. Malik Slassi. Also effective February 9, 2026, PharmAla has appointed Mr. Lennie Ryer, CPA, CA, of Montreal to its board of directors.
“Dr. Slassi was one of the first people I approached when PharmAla was just an idea, not yet a company. We are immeasurably grateful for his support and insight over the past 4 years,” said Nicholas Kadysh, CEO, PharmAla Biotech. “However, we are excited to welcome Mr. Lennie Ryer to the board; Having been working with Mr. Ryer for over a month already, I believe he will bring much-needed experience and expertise to the PharmAla board as we enter the next phase of our development.”
Lennie Ryer, CPA, CA is a seasoned financial executive and board director with extensive experience in corporate finance, governance, and strategic leadership. Throughout his career, Mr. Ryer has held numerous senior roles including Chief Financial Officer and Vice President of Finance for companies in the pharmaceutical, biotechnology, and technology sectors. He has also served as Managing Partner of a major public accounting firm, where he specialized in mergers and acquisitions, taxation, and capital markets. Lennie’s background includes guiding companies through transitions to public markets and leading significant equity and debt financings. He holds a Bachelor of Commerce in Finance and a Public Accountancy degree from McGill University and is a Chartered Professional Accountant (CPA, CA).
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