Connect with us

Hi, what are you looking for?

Sunday, Dec 3, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


PharmAla and Mindset enter psilocybin distribution agreement

PharmAla will have exclusive rights to resell Mindset’s cGMP psilocybin to designated researchers

PharmAla and Mindset enter psilocybin distribution agreement
Photo via Wikimedia Commons

PharmAla Biotech (CSE:MDMA) will no longer be solely focused on the production and distribution of MDMA, thanks to a new agreement with Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF).

On Wednesday, the companies announced a new sales agreement which will allow PharmAla to resell cGMP psilocybin developed by Mindset to certified clinical researchers.

Mindset produced a large batch of its psilocybin in the United States recently at the site of an unnamed international contract development and manufacturing company, which is in accordance with the yearly DEA quota on psilocybin.

Read more: PsyCan aims to be ‘go-to’ psychedelics industry organization, receives support from lawmakers

Read more: TripSitter acquires Reconscious Medical assets to enhance its treatment options

“A cost-effective supply of first generation psychedelic therapeutics is essential to the overall development of the medical psychedelic space, and Mindset is eager to help meet this increased demand for pharmaceutical grade psilocybin from researchers,” said James Lanthier, CEO of Mindset.

Lanthier added that the company has chosen PharmAla as a partner because of its strong sales infrastructure and experience working with clinical investigators.

“While we have until now focused exclusively on MDMA and its analogues, we’ve heard time and again that our clinical partners want access to other research materials. We see significant synergies in this partnership with Mindset; our sales infrastructure, as well as our Canadian pharmaceutical value chain, can create revenue opportunities for both companies,” said Nick Kadysh, CEO of PharmAla.

Kadysh added that the new agreement had established PharmAla as the first and only organization capable of providing the clinical research community with two of the most sought after and high-grade APIs in psychedelics: MindSet’s cGMP psilocybin and PharmAla’s GMP LaNeo MDMA product.


Follow Mugglehead on Twitter

Like Mugglehead on Facebook

Follow Rowan Dunne on Twitter




Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Alternative Energy

The first round of funding announced includes up to $300 million available under two streams

Rare Earths

The government has now covered over half of the project's total expenses

Alternative Energy

The plant will cost around C$1 billion and will be built by a Taiwanese company in 2024


This is the first shipment that will be used specifically under the country's Authorized Prescriber Scheme enacted in July