Rua Bioscience Strikes Deal to Sell PharmAla Biotech's LaNeo MDMA in New Zealand
MT Newswires Live
Oct 09
Rua Bioscience (NZE:RUA) will import, distribute, and sell PharmAla Biotech's pharmaceutical-grade LaNeo MDMA in New Zealand under a new distribution and license deal between the companies, according to a Friday filing with the New Zealand bourse.
MDMA is a psychoactive compound often used recreationally as ecstasy. In a medical setting, it is administered as an adjunct to psychotherapy for conditions including post-traumatic stress disorder.
Under the deal, the first shipment of LaNeo MDMA will be supplied on a consignment basis, enabling Rua to enter the market with minimal upfront capital, the company said.
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