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Pharmala Biotech Holdings Inc. (" PharmAla " or the " Company ") (CSE: MDMA) (OTC:MDXXF), a biotechnology company focused on the research, development, and manufacturing of novel MDXX class molecules (including its LaNeo™ MDMA), is pleased to announce that it has signed a distribution agreement with Veridion Group ( "Veridion" ) of New Zealand, to act as exclusive distribution agent for its LaNeo MDMA in the Netherlands market.
"With the approval of the first Authorized Prescriber for Psilocybin by Medsafe – the New Zealand Medicines and Medical Devices Safety Authority – we immediately saw a number of eminent clinicians express a desire to do the same for MDMA," said Nick Kadysh, CEO, PharmAla Biotech. "We're incredibly pleased to have partnered with Veridion to act as our exclusive distributor for New Zealand. Veridion has the expertise we look for in a partner: executing complex operations with controlled pharmaceuticals, and working with doctors to provide exceptional care. Kia ora!"
The distribution agreement includes an annual purchase minimum (waived for the first year), as well as restrictions on re-export. PharmAla anticipates shipping to New Zealand from existing inventory allocated for its Australian operations.
"This partnership with PharmAla is a natural fit. Veridion has built its reputation on handling complex, highly regulated medicines, and PharmAla brings both the science and the track record to match," said Courtney Letica, CEO, Veridion Group. "Together, we can give New Zealand clinicians confidence that when MDMA treatments become available, access will be safe, controlled, and delivered to the highest standard."
For more information, please visit www.PharmAla.ca , where you can sign up to receive regular new updates.
Appointment of Dr. Kiyan Afzali as Director for PharmAla Australia
PharmAla is furthermore pleased to appoint Dr. Kiyan Afzali to the board of PharmAla Biotech Australia Pty Ltd. ("PharmAla Australia"). Dr. Afzali is a scientific consultant with nearly a decade of experience in leading impactful translational research through broad expertise in medicine, pharmacology, and drug discovery, and a specialisation in quantitative pharmacodynamics. He earned his PhD from The University of Sydney, where he developed small drug-like molecules as the first potential medicines targeting the receptor for oxytocin, also known as the love hormone or social neuropeptide, to treat some of the largest contributors to the global burden of disease, including neuropsychiatric disorders, cardiometabolic disease, pain, and inflammation. His works have led and instrumentally contributed to significant written compositions, licensed patents, awards, a total of $282m in private investment, and the establishment and maturation of the biotechnology company Kinoxis Therapeutics, including a strategic partnership with the major international pharmaceutical company Boehringer Ingelheim.
"We're pleased to welcome Dr. Afzali to the team, and look forward to consulting with him on our research and development efforts in Australia, "said Dr. Harpreet Kaur, VP of Research, PharmAla Biotech. "We believe his exceptional expertise in our field of study – as well as his proven track record of commercial success – will help us continue developing PharmAla into the best drug developer of MDMA-like molecules in the world."
Dr. Afzali's appointment is effective October 1, 2025.
About PharmAla
Pharmala Biotech Holdings Inc. (CSE: MDMA)(OTCQB: MDXXF) is a biotechnology company focused on the research, development, and manufacturing of MDXX class molecules, including MDMA. PharmAla was founded with a dual focus: alleviating the global backlog of generic, clinical-grade MDMA to enable clinical trials as well as commercial sales in selected jurisdictions, and to develop novel drugs in the same class. PharmAla is the only company currently provisioning clinical-grade MDMA for patient treatments outside of clinical trials. PharmAla's research and development unit has completed proof-of-concept research into several IP families, including ALA-002, its lead drug candidate. PharmAla is a "regulatory first" organization, formed under the principle that true success in the psychedelics industry will only be achieved through excellent relationships with regulators.
For more information, please contact:
Nicholas Kadysh
Chief Executive Officer
Pharmala Biotech Holdings Inc.
Email: press@PharmAla.ca
Phone: 1-855-444-6362
Website: www.PharmAla.ca
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement
This press release contains ‘forward-looking information' within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on PharmAla's current belief or assumptions as to the outcome and timing of such future events. Forward-looking information is based on reasonable assumptions that have been made by PharmAla at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. The forward-looking information contained in this press release is made as of the date hereof, and PharmAla is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in PharmAla's management's discussion and analysis which is available on PharmAla's profile at www.sedar.com.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.
