Mindset Pharma and PharmaAla have entered into an exclusive sales agreement for the sale and distribution of pharmaceutical-grade psilocybin.
Under the agreement, PharmAla will be the exclusive global reseller of Mindset’s cGMP psilocybin to appropriately licensed clinical researchers.
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 (CDMO) pursuant to the annual DEA quota on psilocybin.
CEO of Mindset, James Lanthier, commented: “In addition to forging new ground in next-generation psychedelic drug discovery, Mindset has also developed a patent-pending, highly scalable psilocybin synthesis technology.
“A cost-effective supply of first-generation psychedelic therapeutics is essential to the overall development of the medical psychedelic space, and Mindset is eager to help meet this increased demand for pharmaceutical-grade psilocybin from researchers.
“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.
“It’s also yet another concrete example of Mindset commercialising and creating value from its portfolio of innovations.”
CEO of PharmAla, Nick Kadysh, added: “While we have until now focused exclusively on MDMA and its analogues, 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.
“With the culmination of this agreement, we’re the first and only organisation that is able to offer the clinical research community two of the most high-quality and in-demand APIs in psychedelics: PharmAla’s GMP LaNeo MDMA, and Mindset’s cGMP psilocybin.”
