TORONTO, Oct. 08, 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 proud to announce that it has been contracted as a supplier of MDMA to a proposed clinical trial at the University of Texas, San Antonio. Pursuant to a submitted grant funding application by the principals, the contract envisions the creation of a new dosage form for LaNeo? MDMA, which will subsequently be tested in an investigator-initiated human clinical trial.

“PharmAla stands ready to support researchers not only with our existing API and 40mg capsules, but in the development of new and novel dosage forms for LaNeo? MDMA,” said Nicholas Kadysh, CEO, PharmAla Biotech. “While we believe that the scalable 40mg dose architecture currently in use in both Canada and Australia is appropriate when used in many Assisted Therapy use-cases, there will always be new approaches using different doses and drug delivery models. We are always pleased to partner with researchers who wish to break new ground.”

Publication of Patents

PharmAla notes with pride that a patent application making up part of its Intellectual Property (IP) strategy has recently been published by the US Patent and Trademark Office (USPTO). The patent application relates to the potential uses of PharmAla’s APA-01 novel molecular entity, and were filed as a divisional application arising from PharmAla’s original APA-01 patent, which was granted earlier this year as US Patent #12,042,428.

“PharmAla would once again like to thank our partners at IPON, who continue to support our global patent filings with non-dilutive grants,” said Dr. Harpreet Kaur, VP of Research, PharmAla Biotech. “As a young Canadian company, it is a powerful motivator to have the team at IPON supporting us in our joint mission to keep this very valuable IP in Canada.”

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.