These Two Psychedelics Companies Team Up In An Exclusive Sales Deal, Here Are The Details

Next-gen psychedelics producers Mindset Pharma Inc. (OTCQB: MSSTF) and PharmAla Biotech Holdings Inc. have entered into an exclusive sales agreement making PharmAla the sole global reseller of Mindset’s current Good Manufacturing Process (cGMP) psilocybin to licensed clinical researchers.

Regarding Mindset’s development of a patent-pending, scalable psilocybin synthesis technology, the company’s CEO James Lanthier says he recognizes that a cost-effective supply of first-generation psychedelics is “essential” to the development of the medical psychedelic space.

Mindset has recently completed the production of a large batch of cGMP psilocybin at the US site of an international contract development and manufacturing company pursuant to the annual DEA quota on psilocybin.

PharmAla, which focuses on R&D and production of MDXX class molecules including MDMA, holds a dual focus of supplying generic, clinical-grade MDMA to clinical trials and developing novel drugs in the same class.

“We have chosen PharmAla as a partner because of their track record in working with clinical researchers, and existing sales infrastructure to sell pharmaceutical grade psychedelic compounds,” said Lanthier, who noted that the agreement is another example of Mindset’s strategy for commercialization and creation of valuable innovations.

PharmAla’s CEO Nick Kadysh added, “While we have until now focused exclusively on MDMA and its analogs, we’ve heard time and again that our clinical partners want access to other research materials. We see significant synergies in this partnership with Mindset; our sales infrastructure, as well as our Canadian pharmaceutical value chain, can create revenue opportunities for both companies.”

PharmAla will now offer the clinical research community two of “the most high-quality and in-demand APIs in psychedelics,” PharmAla’s GMP MDMA LaNeo and Mindset’s cGMP psilocybin, Kadysh concluded.

Photo courtesy of chrissmith12 and Bru-nO on Pixabay.