PharmAla Biotech to supply Clinical Psychedelic Lab at Monash University Clinical Trial with LaNeo MDMA

Fourth major clinical trial to select PharmAla Biotech as supplier in Australia

VANCOUVER, British Columbia, April 20, 2023 (GLOBE NEWSWIRE) — PharmAla Biotech is proud to have been selected as the MDMA manufacturing partner for the Clinical Psychedelic Lab at Monash University’s upcoming Phase 2 Clinical Trial.

“Australia is rapidly becoming one of the most exciting locations for MDMA research anywhere in the world. I’m sure that the evidence gathered by Prof. Liknaitzky and the team at Monash University will add valuable data to this growing body of research,” said Nick Kadysh, PharmAla’s CEO. “With this supply agreement, PharmAla continues to establish itself as the premier supplier of choice for clinical MDMA researchers in Australia and globally. The Monash team is world-class, and we’re excited to supply them.”

Dr. Liknaitzky is a globally recognized leader in Psychedelics research, as well as Psychedelic-Assisted Psychotherapy training. He is also the co-founder and Chief Scientific Officer of a series of Psychedelic clinics, the first of which is set to open in Melbourne in 2023.

This is the fourth major Clinical Trial to select PharmAla as their MDMA supplier in Australia. PharmAla is the first publicly-traded company to manufacture GMP MDMA, and the first company to make available to researchers two GMP Psychedelic APIs. PharmAla’s LaNeo MDMA is slated to be delivered to Monash university in summer 2023.

For more information, please visit www.PharmAla.ca, where you can sign up to receive regular new updates.

About PharmAla

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 the first publicly-traded company to manufacture clinical-grade MDMA. PharmAla’s research and development unit has completed proof-of-concept research into ALA-002, PharmAla’s lead drug candidate. 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.

For more information, please contact:
Nicholas Kadysh
Chief Executive Officer
PharmAla Biotech Holdings Inc.
Email: press@PharmAla.ca
Phone: 1-855-444-6362
Website: www.PharmAla.ca

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement

This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on PharmAla’s current belief or assumptions as to the outcome and timing of such future events. Forward-looking information is based on reasonable assumptions that have been made by PharmAla at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. The forward-looking information contained in this press release is made as of the date hereof, and PharmAla is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in PharmAla’s management’s discussion and analysis which is available on PharmAla’s profile at www.sedar.com.

This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.