TORONTO, March 10, 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 excited to announce that it has signed a distribution agreement with Duchefa Farma B.V. (“Duchefa”) of Haarlem, Netherlands, to act as exclusive distribution agent for its LaNeo MDMA in the Netherlands market.
“Last year, the Dutch State Commission on MDMA made a strong recommendation that the Government of the Netherlands allow for the use of MDMA in the Dutch healthcare system,” said Marten Teves, Owner, Duchefa Farma. “We believe that PharmAla is the most diligent and reputable manufacturer of pharmaceutical MDMA in the world, and are proud to exclusively partner with them to bring this drug to the EU where it can help Dutch patients.”
The distribution agreement includes an annual purchase minimum, as well as restrictions on re-export and price controls. It also includes an escalator provision which would significantly increase the minimum purchase amounts in the 24 months following regulatory changes which allow for use of MDMA in the healthcare system. Duchefa will also act as Importer of Record as well as providing Qualified Person (“QP”) Release of PharmAla’s products; under EU regulations, QP release is necessary prior to use of a drug product in either commercial use or in clinical trial.
“We are confident that this deal will open significant new opportunities for both Duchefa and PharmAla. This is the first new market we have officially opened since entering Australia in late 2023,” said Nick Kadysh, CEO, PharmAla Biotech. “In looking for a partner we can rely on, we were pleased to see that Duchefa has not only an incredible presence in the Netherlands, but exceptional relationships with partners from the Galenos Group across Europe. We are excited to fulfill the demand for clinical trial materials in the Netherlands, and to assist in pushing the Government of the Netherlands towards greater acceptance of MDMA-Assisted Therapy for the treatment of PTSD.”
For more information, please visit www.PharmAla.ca, where you can sign up to receive regular new updates.
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.
