PharmAla Biotech Registers Trademark for MDMA

The Company's clinical-grade GMP MDMA product is now known as "Laneo"

VANCOUVER,BC, June 24, 2022 /CNW/ - PharmAla Biotech (CSE: MDMA) has registered a trademark for its clinical-grade MDMA product, which shall be marketed as Laneo MDMA. PharmAla is currently the only publicly-traded company to have developed a full manufacturing value chain for MDMA.

"While MDMA is a generic drug, there's a huge difference between illicit drug manufacture and our clinical-grade product. Only one is appropriate for use in scientific research: Laneo MDMA," said Nick Kadysh, CEO of PharmAla Biotech. "With this trademark registration, PharmAla continues to establish itself as the leader in MDMA manufacture, research, and development."

A number of customers have already made deposits for Laneo MDMA, and the company anticipates initial product deliveries to be made in Fall of 2022. Laneo MDMA is initially available to customers in both a 40mg formulated clinical trial capsule and as pure Active Pharmaceutical Ingredient (API) which can be compounded by a qualified pharmacist. In the future, a range of drug product formulations can be developed.

"We're speaking to customers every day who are excited to initiate clinical trials with MDMA – but they are unable to do so because up until now, they didn't have access to clinical trial supply of drug product," said David Purcell, Director of Sales at PharmAla Biotech. "PharmAla Biotech's Laneo MDMA is the answer."

For more information, please visit www.PharmAla.ca, where you can sign up to receive regular new updates.

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 a "regulatory first" organization, formed under the principle that true success in the psychedelics industry will only be achieved through excellent relationships with regulators. Our team of dedicated professionals includes regulatory experts, scientists, and biomanufacturing professionals. PharmAla has built what it believes to be North America's first cGMP MDMA value chain, encompassing GMP manufacturing of Active Pharmaceutical Ingredient (API), and drug product formulation. PharmAla's research and development unit has also begun preclinical research into two patented Novel Chemical Entities (NCEs) based on MDXX class molecules, with proof-of-concept research currently ongoing at the University of Arkansas School for Medical Sciences in the United States and at InterVivo Solutions in Canada. For more information, visit 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

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