TORONTO, Aug. 22, 2024 (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 LaNeo? MDMA and novel derivatives of MDMA (MDXX class molecules), is pleased to announce that it has created a new tool for researchers, providing direct access to its Chemistry, Manufacturing and Control (CMC) data – as well as its investigator’s brochure – to qualified researchers.

“Over the past number of weeks we have seen a massive influx of requests for documentation for research materials for MDMA. One of the unlooked-for effects of the FDA’s decision on the Lykos New Drug Application for MDMA has been a dramatic increase in clinical researchers looking for information about our products. Clearly, MDMA is still of significant interest to the global research community,” said Nicholas Kadysh, CEO, PharmAla Biotech. “Following the successful rollout of PharmAla’s prescriber’s portal for our Canadian prescriber population, we’re pleased to offer this new tool to the global clinical researcher community. We hope it will save them time and energy as they apply for grant funding, and is a testament to PharmAla’s unmatched regulatory transparency and sophistication.”

The new tool, offered at https://pharmala.ca/clinical-trials, offers researchers direct access to drug product quality information, which researchers can examine directly. PharmAla expects that the tool will ease the process for those researchers who wish to apply for trials with MDMA, and help continue to grow PharmAla’s sales pipeline for clinical trials using LaNeo MDMA. Dozens of researchers are already using LaNeo MDMA for clinical research all over the world.

CFO Change

PharmAla Biotech is furthermore pleased to announce that it will be engaging Mr. William Avery, CPA, CA, as Chief Financial Officer for the Corporation, effective October 1^st. Mr. Avery has been acting as Financial advisor for PharmAla Biotech for over a month. Mr. Avery is a former partner at MNP, focusing on publicly traded companies in innovative fields.

The Board of PharmAla Biotech extends their thanks to Mr. Carmelo Marelli, the company’s outgoing CFO, for his years of service.

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.