PharmAla Biotech named Exclusive MDMA Supplier to InterVivo Solutions
PharmAla to supply InterVivo and its Clients for the purposes of scientific research
VANCOUVER, BC and TORONTO, Aug. 5, 2022 /CNW/ - PharmAla Biotech (CSE: MDMA) is pleased to announce that it has signed on to act as exclusive supplier of both GMP LaNeo™ MDMA and Engineering MDMA to InterVivo Solutions (Toronto), its client companies and Affiliates. InterVivo Solutions is a well-established pre-clinical contract research organization (CRO) with expertise in neuropsychiatric and neurological diseases. Together with Transpharmation, they form the largest boutique neuroscience-specialized in vivo CRO.
"We're pleased to be able to offer our global client base a reliable and high-quality supply of reference MDMA through this exclusive supply agreement with PharmAla. Our hope is this will streamline and further propel our client's research efforts to uncover and optimize the key properties of psychedelics and entactogenic medicines.", said Sal Lemus, Director of Sales and Marketing at InterVivo Solutions.
Through this agreement, PharmAla will provide both its GMP, clinical-grade LaNeo™ MDMA to InterVivo and its client companies, as well as engineering MDMA for animal research. The agreement allows for simple access to MDMA for research purposes for all of InterVivo's clients at reduced prices, and guarantees access to MDMA that can be taken all the way from pre-clinical to clinical, human research.
"As a current client of InterVivo, we have seen the excellence of their work first-hand. We've been impressed with both their scientific rigour, and the speed with which they have developed data sets to support our novel IP," said Nick Kadysh, PharmAla's CEO. "I'm thrilled that we have been named the exclusive supplier of MDMA for both InterVivo and their research clients – and I'm sure that those clients will appreciate having a stable source of drug to support their efforts."
For more information, please visit www.PharmAla.ca, where you can sign up to receive regular new updates.
PharmAla Biotech Holdings Inc. (CSE: MDMA) 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, and to develop novel drugs in the same class. 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. Our team of dedicated professionals includes regulatory experts, scientists, and biomanufacturing professionals. PharmAla has built what it believes to be North America's first cGMP MDMA value chain, encompassing GMP manufacturing of Active Pharmaceutical Ingredient (API), and drug product formulation. PharmAla's research and development unit has also begun preclinical research into two patented Novel Chemical Entities (NCEs) based on MDXX class molecules, with proof-of-concept research currently ongoing at the University of Arkansas School for Medical Sciences in the United States and at InterVivo Solutions in Canada. For more information, visit www.PharmAla.ca.
InterVivo Solutions (IVS) is a preclinical in vivo CRO providing research services using translational animal models for efficacy, pharmacokinetics, safety and toxicology, including bioanalytical and imaging support. Together with its sister company, Transpharmation, IVS employs upwards of 120 qualified staff trained to support the scientific operations of the company across its's locations in Canada, the UK, Ireland and Poland.
For more information, visit www.Intervivo.com and www.transpharmation.co.uk
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
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
SOURCE PharmAla Biotech Inc.
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