PharmAla appoints Dr. Leah Mayo to Scientific Advisory Board

Dr. Mayo is the Parker Chair in Psychedelics Research at the University of Calgary; Will advise PharmAla on clinical trial design and execution

VANCOUVER, BC, Oct. 13, 2022 /CNW/ - PharmAla Biotech (CSE: MDMA) is excited to welcome Dr. Leah Mayo to the company's Scientific Advisory Board. Dr. Mayo recently took up the role of Parker Chair in Psychedelics Research at the Department of Psychiatry, the Hotchkiss Brain Institute and the Mathison Centre for Mental Health Research and Education at the University Calgary. Prior to her appointment, Dr. Mayo was Assistant Professor at the Center for Social and Affective Neuroscience, Linköping University (Sweden).

Joining Dr. Harriet de Wit, Dr. Malik Slassi and Dr. Leonard Howell on PharmAla's scientific advisory board, Dr. Mayo's primary responsibility will be advising the Company on the design of clinical trials which it will present to the USFDA and other global health regulatory bodies.

"I'm excited about the contribution that Dr. Mayo will make to our team. She's a young, exciting researcher – who has already achieved a remarkable pedigree," said Nicholas Kadysh, CEO of PharmAla Biotech. "In the near future, as we move ALA-002 to an IND filing with the US FDA, and a similar filing in other countries, I know that Leah's help will be invaluable."

PharmAla's primary research into its ALA and ABA series of molecules has established compelling evidence that both series of Novel Chemical Entities (NCEs) represent an improved safety profile from traditional, generic MDMA, while retaining efficacy. PharmAla intends to bring the ALA series to clinical trial in 2022.

"The potential of an MDMA-like compound with an improved safety profile is really exciting," said Dr. Leah Mayo. "I'm grateful for the opportunity to help guide PharmAla's clinical trial program as they continue their efforts to advance the field of psychedelic medicine."

For more information, please visit www.PharmAla.ca, where you can sign up to receive regular new updates.

About PharmAla

PharmAla Biotech Holdings Inc. (CSE: MDMA) is a biotechnology company focused on the research, development, and manufacturing of MDXX class molecules, including MDMA. PharmAla was founded with a dual focus: alleviating the global backlog of generic, clinical-grade MDMA to enable clinical trials, and to develop novel drugs in the same class. PharmAla is a "regulatory first" organization, formed under the principle that true success in the psychedelics industry will only be achieved through excellent relationships with regulators. Our team of dedicated professionals includes regulatory experts, scientists, and biomanufacturing professionals. PharmAla has built what it believes to be North America's first cGMP MDMA value chain, encompassing GMP manufacturing of Active Pharmaceutical Ingredient (API), and drug product formulation. PharmAla's research and development unit has also begun preclinical research into two patented Novel Chemical Entities (NCEs) based on MDXX class molecules, with proof-of-concept research currently ongoing at the University of Arkansas School for Medical Sciences in the United States and at InterVivo Solutions in Canada. For more information, visit www.PharmAla.ca.

About Dr. Leah Mayo

Dr. Leah Mayo is the inaugural Parker Research Chair in Psychedelics and an Assistant Professor at the Mathison Centre for Mental Health Research and Education, the Hotchkiss Brain Institute, and the Department of Psychiatry at the University of Calgary. She received her PhD in Neurobiology from the University of Chicago in 2015, and since then, her research has focused on mechanism-based investigations supporting the development of cannabinoid- and psychedelic-based therapeutics for psychiatric disorders. This work has resulted in early career recognitions from the European Behavioral Pharmacology Society, the Society for Social Neuroscience, and the Society for Biological Psychiatry, as well as competitive funding at the national and international levels.

Website: www.PharmAla.ca

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement

This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on PharmAla's current belief or assumptions as to the outcome and timing of such future events. Forward-looking information is based on reasonable assumptions that have been made by PharmAla at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. The forward-looking information contained in this press release is made as of the date hereof, and PharmAla is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in PharmAla's management's discussion and analysis which is available on PharmAla's profile at www.sedar.com.

This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction

SOURCE PharmAla Biotech Inc.

Please contact: Nicholas Kadysh, Chief Executive Officer, PharmAla Biotech Holdings Inc., Email: [email protected], Phone: [phone]