NZX-listed company to import therapeutic MDMA

The New Zealand Stock Exchange says one of its listed companies is set to import and distribute pharmaceutical-grade MDMDA, 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 NZX said in a statement on Friday 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."Rua's chief executive, Paul Naske, said their experience with medicinal cannabis had shown that safe, regulated access to new medicines started with small, careful steps.Rua Bioscience co-founder Manu Caddie inspects plants with head grower Brandon Veevers.Josie McClutchie"Medsafe's decision on MDMA is one of those steps, and we're proud to help make it real for patients."This agreement positioned them early in a field which they expect to grow, he said, as evidence and regulatory frameworks developed.The MDMA would be supplied by Canadian biotech company PharmAla Biotech.Nicholas Kadysh, its chief executive, said NZ clinicians needed a reliable, GMP-grade supply of MDMA."Rua has the licences, quality systems and prescriber relationships to deliver it from day one, and shares our regulatory-first approach. We are pleased to partner with them."The companies would now work with Medsafe to complete the regulatory and quality steps before the first shipment.Patient numbers were expected to be modest at first, with both companies seeing this as an important first step in a broader shift in how Aotearoa approaches mental health treatment.