Jupiter Neurosciences expands CNS pipeline with $100 million PharmAla MDMA deal

US clinical-stage biopharma Jupiter Neurosciences (Nasdaq: JUNS) has signed a definitive licensing agreement with Canadian biotech PharmAla Biotech Holdings (CSE: MDMA) (OTCQB: MDXXF) for exclusive US rights to ALA-002, PharmAla’s next-generation MDMA-based drug candidate.

The agreement is worth up to around $100 million in upfront and milestone payments, excluding royalties. PharmAla will receive $3.33 million upfront, made up of $1.5 million in cash and $1.83 million in Jupiter common stock, with further payments tied to development, regulatory and commercial milestones. The deal also includes a 3% royalty on US net sales, payable after the third commercialization milestone.