PharmAla Agrees in Principle to Provide MDMA to Clinical Trials in Exchange for Full Data License

TORONTO, Nov. 14, 2024 (GLOBE NEWSWIRE) — PharmAla Biotech Holdings Inc. (“PharmAla” or “Company”) (CSE: MDMA) (OTC:MDXXF), a biotechnology company focused on the research, development and production of LaNeo MDMA and novel derivatives of MDMA (MDXX class of molecules), has signed a Letter of Intent with a research institution. must provide LaNeo MDMA in exchange for a full and perpetual license to the efficacy and safety data generated by the trial.

“One of the benefits of having a strong product is that it can sometimes create new and unexpected opportunities,” said Nicholas Kadysh, CEO of PharmAla Biotech. “While the majority of our LaNeo MDMA is sold to research organizations on fully commercial terms, there are situations where we will consider discounts in favor of intellectual property. This is one of those situations, and we believe the potential data is of significant value to the Company.”

PharmAla will seek to finalize the licensing and data sharing agreement before the end of calendar year 2024. The identity of the trial’s Principal Investigators and their institution is currently being kept confidential as the final and binding agreement has not yet been signed.

Researchers can access a tool available at: https://pharmala.ca/clinical-trialsProvides access to drug product quality information that researchers can examine directly. PharmAla is confident that it can offer research customers rapid support in converting clinical trial registrations and IRB approvals to the LaNeo MDMA Chemistry, Manufacturing and Control suite.

PharmAla will consider discounts in favor of data sharing where appropriate. Qualified researchers can contact [email protected].

Share Issuance for Debt Settlement Purposes

In addition, as previously disclosed, the Company settled the $100,000 amount owed to an arm’s length creditor through the issuance of 459,770 shares of common stock in the Company’s capital at an agreed price of $0.2175 per share.

About PharmAla

PharmAla Biotech Holdings Inc. (CSE: MDMA)(OTCQB: MDXXF) is a biotechnology company focused on the research, development and production of the MDXX class of molecules, including MDMA. PharmAla was founded with a dual focus: to alleviate the global backlog of generic, clinical-grade MDMA and to develop new drugs in the same class to enable clinical trials as well as commercial sales in selected jurisdictions. PharmAla is the only company providing clinical-grade MDMA for patient treatments outside of clinical trials. PharmAla’s research and development unit has completed proof-of-concept research on several IP families, including its lead drug candidate ALA-002. PharmAla is a “regulatory-first” organization, created on the principle that true success in the psychedelic industry can only be achieved through excellent relationships with regulators.

For more information please contact:
Nicholas Kaddish
Chief Executive Officer
PharmAla Biyotechnology Holding A.Ş.
Email: [email protected]
Phone: 1-855-444-6362
Website: www.PharmAla.ca

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

Warning 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”, “intends”, “expects”, “believes”, “will”, “is anticipated”, “estimated” and similar expressions regarding matters that are not historical facts identify forward-looking information and constitute PharmAla’ It is based on ‘s current belief or assumptions regarding the outcome and timing of such future events. Forward-looking information is based on reasonable assumptions 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 herein. forward-looking information. The forward-looking information contained in this press release is made as of the date hereof and PharmAla undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. applicable securities laws. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the heading “Risk Factors” in PharmAla management’s discussion and analysis, 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, nor shall it constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful. registration or qualification under the securities laws of any state, province, territory or jurisdiction.

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