Canada To Australia: New MDMA & Psilocybin Shipment On Its Way For Legal Therapeutic Market

The first of several of PharmAla Biotech’s PMBHF shipments of psychedelic molecules -both API and finished drug product capsules- to its Australian JV Cortexa for use under the Authorized Prescriber Scheme (APS) is all set.

The Canadian MDXX class molecules company, together with Australian partner digital healthcare firm Vitura Health Ltd., announced the new business’ launch in May, some months prior to the country beginning the implementation of legal psychedelic-assisted therapies prescription, by authorized physicians, for patients with PTSD and Major Depressive Disorder -the first country in the world to legalize such treatment options.

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According to PharmAla, the completed MDMA and psilocybin multi-part cargo marks the first time any molecules recently re-scheduled under Australia’s APS are imported “explicitly” for use under that scheme, rather than for clinical trials. 

PharmAla’s CEO Nick Kadysh says that Australia’s market development is showing “significant interest” among both clinical trial practitioners and clinic operators in a somewhat competition to establish themselves as the most capable to provide treatments to patients; yet he is confident the pharmaceutical-grade medicines component will make such race fade and, further, believes Cortexa will stand as “the industry leader in the import, sale and distribution of psilocybin and MDMA for medical purposes.”

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Vitura Health’s CEO Rodney Cocks echoed the sentiment, adding that “as almost anyone involved in this industry can attest, the import of these materials presents significant logistical and regulatory challenges.”

In this sense, the provision of these batches for commercial use, plus the transfer of PharmAla IP to Cortexa, would enable the JV to rely on domestic manufacturing rather than imports in the near future, what Cocks calls Cortexa’s “next logical step.”

Scaling domestic manufacture of GMP-grade psilocybin and MDMA would enable lower costs and shorten time-to-market toward fulfilling local demand “without the difficulty, cost, and lag of foreign-made materials.”

Photo: Benzinga edit with photo by RF_studio on Pexels and anaterate on Pixabay.