PharmAla Biotech Holdings Inc. (“PharmAla” or the “Company”) (CSE: MDMA) (OTC:PMBHF, a biotechnology company focused on the research, development, and manufacturing of novel MDXX class molecules (including MDMA), together with its manufacturing partners, is pleased to announce the receipt of an export permit for the shipment of its allotment of GMP LaNeo MDMA to the University of Sydney. The shipment will mark the completion of the Company's US$125,000 contract with the University of Sydney, which was previously announced on August 31, 2022.

"PharmAla’s continues to support its research clients with the critical supply of GMP LaNeo MDMA, enabling them to perform their ground breaking clinical research in a wide range of therapeutic areas. We are looking forward to seeing the outcomes of the trial by the University of Sydney, when published – and to supporting further research by the Principal Investigators in the future,” said Nick Kadysh, Chief Executive Officer of PharmAla. “We also look forward to delivering more shipments to our partners around the world soon, in particular in Australia where the Therapeutic Goods Agency recently announced regulatory changes that will allow for MDMA and Psilocybin treatments to be prescribed under the Authorized Prescriber Scheme, the start of which is only 2 weeks away.”