PharmAla appoints Lennie Ryer to board, accepts Slassi resignation

PharmAla Biotech Holdings Inc. (CSE: MDMA) (OTCQB: MDXXF) announced changes to its board of directors effective February 9, 2026. The biotechnology company accepted the resignation of Dr. Malik Slassi and appointed Lennie Ryer, CPA, CA, to its board.

Nicholas Kadysh, PharmAla's CEO, said Dr. Slassi was among the first people he approached when PharmAla was in its initial stages. "We are immeasurably grateful for his support and insight over the past 4 years," Kadysh stated in the company's announcement.

Ryer brings financial executive and board director experience from the pharmaceutical, biotechnology, and technology sectors. He has served as Chief Financial Officer and Vice President of Finance at various companies and previously worked as Managing Partner of a public accounting firm, specializing in mergers and acquisitions, taxation, and capital markets.

The new board member holds a Bachelor of Commerce in Finance and a Public Accountancy degree from McGill University. His background includes guiding companies through public market transitions and leading equity and debt financings.

PharmAla focuses on research, development, and manufacturing of MDXX class molecules, including MDMA. The company operates with what it describes as a dual focus: addressing the global shortage of clinical-grade MDMA for clinical trials and commercial sales in selected jurisdictions, while developing novel drugs in the same class.

According to the press release, PharmAla currently provides clinical-grade MDMA for patient treatments outside of clinical trials. The company's research unit has completed proof-of-concept research into several intellectual property families, including its lead drug candidate ALA-002.

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