11:06 AM EDT, 04/05/2024 (MT Newswires) -- PharmAla Biotech Holdings ( MDXXF ) a biotechnology company developing and manufacturing LaNeo MDMA and novel derivatives of MDMA (MDXX class molecules), said Friday its joint venture, Cortexa Pty, has begun batch manufacturing of GMP LaNeo MDMA 40mg capsules to support both clinical trials and clinical use under the Australian regulator's Authorised Prescriber pathway.

After a comprehensive due diligence process, Cortexa entered an exclusive arrangement with Perth-based contract manufacturer Optima Ovest. Optima has extensive experience in the manufacture of GMP, clinical-grade pharmaceutical products, with the capacity to scale operations in line with demand.

The agreement with Optima allows the establishment of onshore manufacture and ensures a secure domestic source of medication independent of the international supply chain, the statement noted. This will free local clinicians and researchers from the costly and time-consuming burden of importation.

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