Yale University has plans for a new clinical trial. And they’re turning to a publicly listed company in Canada to supply them with MDMA for it.
What’s happening:
- PharmAla Biotech Holdings (CSE: MDMA) has been selected to be the official supplier of MDMA for an upcoming clinical trial to be conducted at Yale University
Why it matters:
- MDMA continues to show enormous therapeutic potential for treating mental health conditions and has been slowly moving closer towards being more broadly accessible for clinical purposes globally
Going deeper:
- PharmaAla has developed a proprietary compound of MDMA known as LaNeo MDMA which is a clinical grade MDMA product that has been GMP certified and is able to be shipped globally for the purposes of clinical trials and scientific research
- MDMA assisted therapies have also been on the rise in Australia, which previously led to Optimi Health (CSE: OPTI) officially make their first ever shipment of MDMA capsules to patients who had been prescribed psychedelic medicines by healthcare practitioners in Australia
The intrigue:
- Currently, PharmAla is the only publicly listed company that is producing GMP approved MDMA at commercial scale within North America
The fine print:
- While the psychedelic community was eagerly awaiting the first ever approval for MDMA assisted therapy for treating PTSD from the United States Food and Drug Administration, it was ultimately denied despite Lykos Therapeutics publishing promising data from their Phase III clinical trial
