Mindset Pharma and PharmAla Enter into Exclusive Distribution Agreement for Marketing and Distribution of Pharmaceutical Grade Psilocybin, The Canadian Business Journal

TORONTO, November 16, 2022 (GLOBE NEWSWIRE) — Mindset Pharma Co., Ltd. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or “Company”)a drug discovery company developing novel and optimized next-generation psychedelic and non-psychedelic drugs for the treatment of neuropsychiatric and neurological disorders with unmet medical need, and Farmara Biotech Holdings Co., Ltd. (“Pharmaara”) (CSE: MDMA)a biotechnology company focused on the research, development and manufacturing of the MDXX class of molecules, including MDMA, today announced that it has entered into an exclusive distribution agreement. Become an exclusive global reseller of psilocybin (pharmaceutical grade) to appropriately licensed clinical investigators.

“In addition to breaking new ground in next-generation psychedelic drug discovery, Mindset has also developed a patent-pending, highly scalable psilocybin synthesis technology. , is integral to the overall development of the medical psychedelic space, and Mindset hopes to help meet this increased demand for pharmaceutical-grade psilocybin from researchers. We chose PharmAla as our partner because of our track record of working together and our existing distribution infrastructure for marketing pharmaceutical grade psychedelic compounds. It is also a concrete example.”

Mindset recently completed mass production of cGMP psilocybin at its International Contract Development and Manufacturing Company (“CDMO”) US site in accordance with its annual DEA quota for psilocybin.

“While we have been dedicated to MDMA and its analogues, we have heard repeatedly that our clinical partners would like access to other research materials. Our distribution infrastructure and Canadian pharmaceutical value chain will create revenue opportunities for both companies.” We are the first and only organization to bring PharmAla’s GMP LaNeo MDMA and Mindset’s cGMP Psilocybin to the clinical research community.”

About Pharmaara
PharmAla Biotech Holdings Inc. (CSE: MDMA) is a biotechnology company specializing in the research, development and manufacturing of the MDXX class of molecules, including MDMA. PharmAla was established with the dual purpose of reducing the global backlog of generic clinical grade MDMA to enable clinical trials and to develop new medicines in the same class. PharmAla is the first publicly traded company to manufacture clinical grade HIS MDMA. PharmAla’s research and development department has completed a proof-of-concept study of ALA-002, PharmAla’s lead drug candidate. PharmAla is a “regulation first” organization, formed on the principle that true success in the psychedelic industry can only be achieved through excellent relationships with regulators.

For more information, please visit www.PharmAla.ca.

About Mindset Pharma Co., Ltd.
Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized, patentable, next-generation psychedelic and non-psychedelic medicines to treat unmet neurological and psychiatric disorders is. A mindset has been established to develop next-generation pharmaceutical assets that exploit the breakthrough therapeutic potential of psychedelics. In addition to its own compound, Mindset is developing several new families of next-generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin. The company has a co-development agreement with the He McQuade Center for Strategic Research and Development, a member of the Otsuka Pharmaceutical family of companies, for Mindset Family 2 and 4, short-term compounds.

For more information on Mindset, please visit: www.mindsetpharma.com.

For more information, please contact:

Investor Contact:
Alison Soth
KCSA Strategic Communications
Email: [email protected]
Phone: 212-896-1267

Media contact:
mckenna miller
KCSA Strategic Communications
Email: [email protected]
Phone: 949-606-6585

Company Contact:
James Lanthier, CEO
Email: [email protected]

Jason Atkinson, Vice President of Corporate Development
Email: [email protected]
Phone: 416-479-4094

Forward-Looking Information
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