PharmAla will be the sole provider of both GMP and Engineering MDMA to Awakn

VANCOUVER, British Columbia, March 02, 2023  — PharmAla Biotech Holdings Inc. (“PharmAla”)(CSE: MDMA), a biotechnology company focused on the research, development, and manufacturing of MDXX class molecules (including MDMA) are pleased to announce that PharmAla has been named the exclusive MDMA supplier to Awakn LS Europe Holdings Limited (“Awakn”) (CSE:AWKN).

“We’ve been working with the Awakn team for several months now, to ensure they have all the material needed for their development efforts,” said Nick Kadysh, CEO of PharmAla. “Awakn and PharmAla share a bit of founding history – Prof. David Nutt, who was a founding board member of PharmAla, left our board in order to take on the role of Chief Research Officer of Awakn. We think it’s completely fitting that we are able to supply Awakn with both engineering-grade and GMP LaNeo MDMA, which will grow their development program. I look forward to continued collaboration with Anthony and the Awakn team.”

Anthony Tennyson, CEO of Awakn commented, “We are pleased to have selected PharmAla as the exclusive GLP and GMP MDMA supplier for our MDMA research and development program. We are currently running a feasibility study to assess and potentially develop a market-ready proprietary formulation and optimized delivery route for MDMA, with the goal of reducing the treatment time for MDMA-assisted therapy. Having a trusted partner like PharmAla as our API supplier will reduce risk and potentially increase probability of success for this program.”

PharmAla is the first publicly traded company to manufacture GMP MDMA, and is the first company to make available to researchers two clinical-grade Psychedelic APIs. On March 8th PharmAla will be hosting a webinar for researchers and clinicians on the recent changes announced by the Australian Therapeutic Goods Agency for the use of its products in upcoming clinical trials.

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About PharmAla
PharmAla Biotech Holdings Inc. (CSE: MDMA) 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, and to develop novel drugs in the same class. PharmAla is the first publicly-traded company to manufacture clinical-grade MDMA. PharmAla’s research and development unit has completed proof-of-concept research into ALA-002, PharmAla’s 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.

About Awakn:

Awakn Life Sciences Corp. is a biotechnology company developing therapeutics to treat addiction.  Awakn has a near-term focus on Alcohol Use Disorder (AUD), a condition affecting 285m people globally for which the current standard of care is inadequate. Our goal is to provide breakthrough therapeutics to addiction sufferers in desperate need and our strategy is focused on commercializing our R&D pipeline across multiple channels.