PharmAla’s LaNeo MDMA to Power Mt. Sinai Clinical Trial; Shares Surge 27%
PharmAla Biotech Holdings Inc. (CSE: MDMA) (OTC: MDXXF) has announced it will supply its GMP-grade LaNeo™ MDMA to a clinical trial at Mt. Sinai Health System. This collaboration underscores PharmAla’s dedication to delivering high-quality MDMA for cutting-edge clinical research. CEO Nicholas Kadysh expressed excitement about working with Mt. Sinai’s renowned team of researchers, particularly for their efforts in MDMA-assisted therapy and veterans’ health.
Following the announcement, PharmAla’s shares have surged by 27%.
In addition to Mt. Sinai, the company is also supplying MDMA for clinical trials at Harvard Medical School’s McLean Hospital and Johns Hopkins Medicine. PharmAla has also ended its supply agreement with CCrest Labs and will rely on other distributors moving forward.
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.
