PharmAla's Australian JV Cortexa Orders First Commercial MDMA & Psilocybin Shipment

As Australia’s psychedelic program launches, PharmAla Biotech Holdings Inc.’s PMBHF new Aussie joint business Cortexa has executed its first purchase order for PharmAla’s GMP-compliant MDMA in both finished capsule and raw API forms.

The MDXX-class molecules developer will next order GMP-compliant psilocybin API.

Cortexa’s first purchase order will have a total value of approximately $300,000. it will be shipped on an expedited basis.

PharmAla CEO Nick Kadysh says that the long-term view on the new business “is that it must — and will — stand on its own two feet in the Australian market.” 

Both PharmAla and Australian partner Vitura Health view Cortexa as capable of supporting manufacturing operations domestically. That's why the former transferred its entire production know-how to the new entity as part of the joint venture agreement.

With the launch of the TGA’s regulatory changes allowing for the use of MDMA and psilocybin by authorized prescribers beginning July 1, Kadysh says “it makes sense to fulfill that demand immediately” with previously-made materials in PharmAla’s Canadian inventory.

See Also: Australia Receives First Batch Of Clinical-Grade Psilocybin From Mindset Pharma And PharmAla

In this line, the company’s previously announced shipment to the University of Sydney has now cleared customs in Australia, completing the order.

Photo: Benzinga edit with photo by Augusto Cabral, eskymaks and billion photos on Shutterstock.

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