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.”