PharmAla Biotech Collaborates with Veridion for New Zealand Market

PharmAla Partners with Veridion Group for Exclusive NZ Distribution

PharmAla Biotech Holdings Inc. (“PharmAla” or the “Company”) (CSE: MDMA) (OTC: MDXXF), a pioneering biotechnology entity, is thrilled to announce a distribution agreement with Veridion Group, a prominent figure in the New Zealand pharmaceutical landscape. This collaboration marks a significant step in PharmAla's commitment to expanding access to its LaNeo™ MDMA molecule within the New Zealand market.

Exciting Times for MDMA Treatments

As the medical community adapts to innovative treatment options, recent regulatory approvals—especially the designation of the first authorized prescriber for psilocybin in New Zealand—have ignited an interest in MDMA therapy among clinicians. Nick Kadysh, CEO of PharmAla, expressed immense enthusiasm for this partnership with Veridion, highlighting their expertise in managing controlled pharmaceuticals and delivering exceptional patient care. This venture is set to empower clinicians with the necessary resources as MDMA treatments prepare for a future rollout.

Distribution Agreement Insights

The provisions outlined in the distribution agreement signify a robust framework for collaboration. Notably, the first year’s minimum purchase requirement has been waived, allowing PharmAla to initiate shipments from its existing Australian inventory. This approach underpins the strategic alignment of both companies to ensure seamless access to high-quality MDMA therapeutic options for New Zealand clinicians.

Veridion Group's Role and Expertise

Veridion Group, recognized for its adept handling of highly regulated medical products, brings an invaluable depth of knowledge to this partnership. Courtney Letica, CEO of Veridion, emphasized the complementary strengths both companies possess. By leveraging PharmaAla’s scientific foundation and Veridion’s operational prowess, this partnership aims to reassure healthcare professionals and patients that access to MDMA treatments will be safe and well-regulated.

Welcome to Dr. Kiyan Afzali

In line with its growth strategy, PharmAla is excited to welcome Dr. Kiyan Afzali to the board of PharmAla Australia. Dr. Afzali's impressive track record in translational research, alongside his specialization in pharmacodynamics, presents a significant asset for the company as it seeks to enhance its research and development focus. His contributions have previously garnered over $282 million in private investments and facilitated impactful partnerships in the biotechnology space.

Driving Research Forward

Dr. Harpreet Kaur, VP of Research at PharmAla, voiced strong support for Dr. Afzali’s appointment, expressing optimism about his capabilities to accelerate PharmAla’s research initiatives. With the anticipated advancements in MDMA-like drug development, the team looks forward to harnessing his expertise to navigate the complexities of drug innovation.

About PharmAla Biotech Holdings Inc.

PharmAla Biotech Holdings Inc. is dedicated to pioneering the research, development, and manufacturing of MDXX class molecules, prominently including MDMA itself. Established with a vision to overcome the shortage of clinical-grade MDMA for diverse therapeutic applications, the company is at the forefront of creating new mental health solutions while ensuring compliance with stringent regulations governing psychedelic substances.

Frequently Asked Questions

What is the main goal of PharmAla's partnership with Veridion?

The partnership aims to expand the distribution of PharmAla’s LaNeo™ MDMA in New Zealand, enhancing access for clinicians and patients.

Who is Dr. Kiyan Afzali?

Dr. Kiyan Afzali is a new board member of PharmAla Australia, bringing extensive experience in translational research and pharmacodynamics, which will advance PharmAla’s R&D efforts.

How does the distribution agreement work?

The distribution agreement sets forth an annual purchase minimum—waived for the first year—and ensures controlled re-export regulations.

What does PharmAla specialize in?

PharmAla specializes in the research and development of MDXX class molecules, focusing on MDMA and its therapeutic potential in various treatments.

How can I learn more about PharmAla?

For further information about PharmAla and their updates, visit their official website at www.PharmAla.ca.

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