PharmAla Biotech Holdings Inc. will supply its LaNeo MDMA for a clinical trial at Yale University. This contract highlights PharmAla's growing role as a provider of clinical-grade MDMA for research purposes.
Growing Demand for Clinical Trial Material
Nicholas Kadysh, CEO of PharmAla Biotech, noted the increasing demand for LaNeo MDMA for research purposes. "Requests for clinical trial material – LaNeo MDMA – for research purposes continues to occupy the Company at this time," said Kadysh. "We are happy to be well thought-of in academic circles and continue to work with a number of our research partners to deliver drug product for clinical trials in a timely fashion."
Streamlined Access for Researchers
PharmAla offers a tool that provides researchers with access to drug product quality information, facilitating clinical trial registrations and IRB approvals. This resource aims to expedite the process of converting clinical trial registrations and IRB approvals to the LaNeo MDMA Chemistry, Manufacturing, and Control (CMC) package.
Share Issuance for Debt Settlement
PharmAla Biotech has also announced that its board of directors has approved the settlement of an aggregate of $100,000 of amounts owing to arm’s length creditors through the issuance of common shares. The price per share will be determined at the time of settlement.
