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The exclusive sales partnership between psychedelics biotechs Mindset Pharma MSSTF and PharmAla Holdings resulted in the first sale of Mindset’s GMP-compliant psilocybin in Australia.
The psilocybin batch was purchased by Reset Mind Sciences Ltd., a Western Australian-based subsidiary of ASX-listed Little Green Pharma (LGP) that received ethics committee approval to forward a clinical trial on psilocybin-assisted therapy protocols for patients with treatment-resistant, Major Depressive Disorder (MDD.)
In view of Australia’s recent policy change regarding psychedelics-assisted therapy, other companies have offered supply agreements with on-site R&D or clinical-stage businesses. Most noticeably, Optimi Health OPTHF has engaged in the provision of both MDMA and psilocybin capsules with a renowned NGO. PharmAla separately provided its proprietary MDMA LaNeo to an Australian company for research purposes.
MIndset’s CEO Jamer Lanthier says the company is pleased with the first sale of its proprietary, pharmaceutical-grade psilocybin completed through the partnership with PharmAla.
“Since the recent approval of psilocybin and MDMA as prescription medicines in Australia, we have seen great interest from Australian companies in our psilocybin supply,” says Lanthier, who added that the country’s regulatory developments will make this “the beginning of “a fruitful partnership” between both companies, thanks to “the combined strengths of our novel synthesis processes and sales infrastructure.”
PharmAla’s CEO Nick Kadysh agrees.
“This is further validation of our sales and development model,” he said. “As markets like Australia begin to open to clinical treatments, the pace of research will go up – not down. PharmAla continues to provide best-in-class regulatory support to our clinical trial customers, and we look forward to helping Reset Mind Sciences as they progress through their exciting R&D program.”
Photo by Caleb Russell on Unsplash
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Image and article originally from www.benzinga.com. Read the original article here.