RED LIGHT HOLLAND CORP Red Light Holland Corp. announced that it has entered into a consulting relationship with PharmAla Biotech Holdings Inc., to consult on the development of clinical-grade Psilocybin Drug Product extracted from Red Light Holland's naturally occurring psilocybin truffles. Under the terms of the contract, PharmAla's manufacturing experts have been retained by Red Light to consult and provide their expertise to Red Light in an all-cash consulting contract for one year, with the goal of developing GMP and regulatory documentation of Red Light's Psilocybin capsule products.
The agreement also includes the provision that, upon completion of the Drug Product to specification, PharmAla and Red Light may enter into a sales agreement, where PharmAla would sell the products or provide them to its affiliates in global markets as Red Light's exclusive sales agent.
