PharmAla Executes Binding Letter of Intent for Formation of Special Purpose Vehicle to Develop Patented Novel MDXX Molecule APA-01

TORONTO, April 27, 2026 (GLOBE NEWSWIRE) -- PharmAla Biotech Holdings Inc. (CSE: MDMA)(OTCQB: MDXXF) (“PharmAla” or the “Company”), a biotechnology company focused on the research, development, and manufacturing of LaNeo™ MDMA and novel derivatives of MDMA (MDXX class molecules), is pleased to announce that it has executed a binding letter of intent (the “LOI”) with a strategic partner, Aluvaris Inc. (“Aluvaris”) for the formation and operation of a special purpose vehicle (the “SPV”) for the clinical and regulatory development of APA-01 (also known as PharmAla-1 or “P-1”), the Company's patented novel MDXX molecule. APA-01 is (R)-2-[(2H-1,3-benzodioxol-5-yl)methyl]pyrrolidine, a novel molecule protected by United States Patent No.