TORONTO, May 03, 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 officially launched its Prescribers Portal for medical practitioners with prescribing power to learn more about MDMA, its effects, and the potential ability to access the molecule for their patients. The portal, which is currently live at https://sap.pharmala.ca, is available only to pre-approved medical professionals.

“With the upcoming review of MDMA for the treatment of PTSD by the US Food and Drug Administration, and with increasing insurance coverage in Canada for treatments based on psychedelic molecules, we believe it is important for medical practitioners to have access to high quality educational resources regarding MDMA, its effects, and its potential use for patients with Post-Traumatic Stress Disorder,” said Nicholas Kadysh, CEO, PharmAla Biotech. “As the research and regulatory environment regarding MDMA has moved quickly, most psychiatrists and medical practitioners are seeking information on clinical use and the regulatory pathways for MDMA access available in Canada. We hope our Prescribers Portal will meet this need.”

PharmAla’s Prescriber Portal will host tools and resources that assist medical practitioners in treating their patients. The Company also is working towards the creation of an accredited training and Continuing Education module for physicians in both Canada and Australia, which summarizes technical information pertaining to the clinical use of MDMA.

PharmAla will be hosting a webinar for medical practitioners on Wednesday, May 15th at 5 pm EST to demonstrate the platform, display its functionality, and answer questions. Only validated medical practitioners who have registered an account on the platform will have access to the webinar. To join, register at https://sap.pharmala.ca.

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: [email protected]
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.