Affiliations

Cortexa is PharmAla's flagship commercial partnership and most visible proof point: a 50/50 incorporated joint venture (Cortexa Pty Ltd) established in 2023 with Australian-based Vitura Health Limited (ASX: VIT). The venture pairs PharmAla's manufacturing expertise—as one of the first publicly-traded companies to produce clinical-grade, GMP MDMA—with Vitura's leading Australian distribution network and operational track record. Jointly owned and governed with equal board representation, Cortexa supplies GMP-grade MDMA and Psilocybin products for prescription by Authorised Prescribers under Australia's Therapeutic Goods Administration (TGA) scheme and for use in academic and commercial clinical trials.

Today, Cortexa stands as the leading supplier of GMP-grade MDMA into the legal Australian clinical market, having completed the world's first Australian-manufactured GMP MDMA capsule run and continuing to expand its commercial footprint under the Authorised Prescriber pathway. Under the partnership, PharmAla earns an annual licence fee for its manufacturing technology and intellectual property, plus an ongoing royalty on Cortexa's net profit, while Vitura has provided working-capital support to fund the venture's growth. Cortexa represents the repeatable execution model—an aligned, well-capitalised partner combined with equity economics that retain meaningful upside for PharmAla shareholders—that the Company has since extended to its newer development vehicles.

Restora Neurosciences is a jointly-owned special purpose vehicle (SPV) formed in 2026 to lead the clinical and regulatory development of APA-01, PharmAla's patented novel MDXX molecule, with the explicit objective of filing a first Investigational New Drug (IND) application with the U.S. Food and Drug Administration. Established under a definitive agreement with Aluvaris Inc. and Diteba Inc., Restora applies the same proven model behind Cortexa to a U.S.-patented asset: clear governance, a capital-raising partner, and a specialist services provider. PharmAla and Aluvaris each hold 50% of the SPV's founding equity, with Aluvaris leading the capital raise and Diteba—a Health Canada-licensed, FDA-registered and EMA-recognised anchor laboratory—serving as Restora's principal provider of GMP/GLP analytical, bioanalytical, regulatory and project-management services through a highly capital-efficient structure.

The partnership is designed to advance APA-01 without diluting PharmAla's core capital or diverting management focus, while preserving substantial upside for shareholders. PharmAla retains ownership of the underlying intellectual property and a continuing economic interest through equity, a US$500,000 license fee, a perpetual 3% royalty on net sales, and sublicense participation, supported by a 25% anti-dilution floor and a unilateral veto over IP-related matters. APA-01—being developed for indications including Traumatic Brain Injury and post-stroke neurorehabilitation—is positioned to benefit from a favourable U.S. regulatory environment, including federal priorities for TBI and trauma treatments aimed at military veterans. The conditional global license becomes final upon Restora satisfying a US$2.5 million funding threshold, and the SPV intends to file its first IND within 36 months thereafter. As with any development-stage venture, completion of these milestones remains subject to financing, regulatory and other customary conditions.