Connect with us

Hi, what are you looking for?

Saturday, Dec 3, 2022
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Your email address will not be published.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


The contract is worth US$78M and the processing plant will have a milling capacity of 2,000 tonnes per day


The company has also applied to trade on the OTCQB exchange


The cohort led by TheraPsil will be meeting with parliament members and protesting outside the Centre Block


The government-run pot shop wants to amend limits on THC, introduce stronger QC measures and re-evaluate packaging rules