PharmAla Contracts with Partner to Act as US Distributor

/EIN News/ -- 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.

About PharmAla

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

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.