TORONTO, March 24, 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 contracted with a third party logistics company specializing in pharmaceutical products to act as its US clinical trial distribution partner.
“PharmAla has noted over the past months that US-Canada cross-border shipping uncertainty has increased. This uncertainty is negatively impacting our numerous clinical trial customers in the United States,” said Nicholas Kadysh, CEO, PharmAla Biotech. “As our volume of business in the US grows, we are always looking for ways to optimize our work; with the potential imposition of tariff barriers, we believe that this is even more important. We are pleased to have contracted with an exceptionally capable partner to store and distribute our LaNeo™ clinical trial materials on behalf of both ourselves and our US clients.”
PharmAla’s agreement with its partner should provide for a streamlined warehoused, GMP-compliant supply of LaNeo™ MDMA for all current clients already contracted, and should provide exceptional certainty against import/export risks for future clients seeking to purchase LaNeo™ MDMA for clinical trials in the United States.
The agreement is non-exclusive, and does not include any provision for sales of LaNeo™ MDMA. The partner will act on PharmAla’s behalf only in the storage and directed distribution of PharmAla’s products. The name of PharmAla’s logistics partner is being withheld at their request. This follows the announcement, two weeks ago, that PharmAla had secured a permanent and exclusive licensed distribution agreement with Duchefa Farma in the Netherlands.
PharmAla Biotech Holdings Inc. (CSE: MDMA)(OTCQB: MDXXF) 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 as well as commercial sales in selected jurisdictions, and to develop novel drugs in the same class. PharmAla is the only company currently provisioning clinical-grade MDMA for patient treatments outside of clinical trials. PharmAla’s research and development unit has completed proof-of-concept research into several IP families, including ALA-002, its 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