NZX-listed company to import therapeutic MDMA
New Zealand-based Rua Bioscience has partnered with a Canadian firm to import pharmaceutical-grade MDMA for use in treating PTSD. This follows recent regulatory approval by Medsafe for the use of MDMA in specific clinical settings.
Why it matters
The move represents a significant shift in the medical application of controlled substances for mental health treatment in New Zealand.
An NZX-listed company is set to import and distribute pharmaceutical-grade MDMA, better known as a party drug, for treatment in therapy.
The company is Gisborne-based Rua Bioscience , which describes itself as a Māori-born biotech business already importing medicinal cannabis.
MDMA, also known as "molly" or "ecstasy" when used recreationally, can be used in a medical setting to treat PTSD.
In September, Medsafe granted two New Zealand psychiatrists approval to prescribe and administer MDMA for the treatment of post-traumatic stress disorder.
The first shipment would be supplied on a consignment basis, enabling Rua to enter the market with minimal upfront capital.
"Rua has built its business on the safe, compliant supply of controlled medicines. Its licensing, quality systems, regulatory expertise and prescriber relationships in medical cannabis apply directly to this new category."
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in