Previously Headed Successful Global
Expansion Resulting in Dramatic Increase in Sales and 35-Fold
Increase in Shareholder Value for Drink Business
FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9A) (“FSD
Pharma” or the “Company”), a biopharmaceutical company
dedicated to building a portfolio of innovative assets and biotech
solutions for the treatment of challenging neurodegenerative,
inflammatory and metabolic disorders, today announced the
appointment of Gerry David to the FSD Pharma Advisory Board. Mr.
David is best known for his five-year tenure as Chief Executive
Officer at zero-calorie fitness drink maker Celsius Holdings, Inc.
where he spearheaded a turnaround that resulted in a global sales
explosion, influx of capital from notable strategic investors, and
a rise in market capitalization that increased shareholder value
35-fold by exceeding $9 billion.
“I have seen countless products throughout my career and I can
honestly say that I have never seen anything as unique and
disruptive as the product FSD Pharma is developing to counteract
alcohol intoxication and misuse,” commented Gerry David. I am
excited to begin working with the entire team on development
strategy and welcome the opportunity to lend any resources and
experiences I have to help achieve the goal of a commercialized
product in the future,” added Mr. David.
“Gerry is a legend in the business world and his insight is
tantamount to the recent addition of Kevin Harrington to our
Advisory Board,” (see press release dated 28 Feb, 2023) said
Anthony Durkacz, Interim Chief Executive Officer of FSD Pharma.
“Gerry’s successes in sales and marketing, supply chain management,
and value creation are rarely paralleled. He will be invaluable to
guidance of our entire pipeline and, more precisely, become
intimately involved with the strategic planning, launch, and
operations of our new alcohol misuse R&D program. We welcome
him to the team.”
Gerry David is a solutions-focused Entrepreneur, Leader, and
Board Member with more than 40 years of success across the consumer
products, manufacturing, and high-tech industries. Leveraging
extensive experience leading five comprehensive turnarounds of both
public and private companies with global scopes spanning 72
countries. He is a valuable asset for startup or established
companies looking to drive long-term, sustainable growth. His broad
areas of expertise include sales and marketing, operations
management, financial analysis, capital raising, supply chain
management, M&A, regulatory and strategic planning. In
recognition of his professional achievements, he was one of only 25
Gold Winners in the prestigious 2016 CEO World Awards and was
selected as “The Leader” in the CEO of the Year category.
Throughout his executive career, Gerry has held leadership
positions at organizations including Celsius Holdings, Vitarich
Labs, Home Shopping Network Direct and his consulting firm Gerry
David & Associates LLC, where he currently serves as CEO. He
has been responsible for leading the turnaround of Celsius Holdings
(CELH: NASDAQ), a beverage company on the verge of going out of
business, driving 5 consecutive years of record revenue, increasing
shareholder value by 35x, establishing a subsidiary in Hong Kong,
launching products in Asia, South America, Europe, and the Middle
East, and establishing manufacturing in Germany, China, and the US;
Gerry began his career by founding a systems integration company
specializing in the hospitality industry, growing the organization
to offices in six states prior to its sale to a public entity.
About FSD Pharma
FSD Pharma Inc. is a biotechnology company with three drug
candidates in different stages of development. FSD BioSciences,
Inc., a wholly owned subsidiary, is focused on pharmaceutical
research and development of its lead compound, FSD201, a
proprietary ultra-micronized PEA formulation, for the treatment of
inflammatory diseases. Lucid Psychss Inc., a wholly owned
subsidiary, is focused on the research and development of its lead
compounds, Lucid-Psych and Lucid-MS. Lucid-Psych is a molecular
compound identified for the potential treatment of mental health
disorders, and expanding this category, the Company is
investigating other products addressing acute medical needs due to
the abuse of drugs such as alcohol. Lucid-MS is a molecular
compound identified for the potential treatment of
neurodegenerative disorders.
Forward Looking Information
This press release contains forward-looking statements and
forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable securities laws.
Any statements that are contained in this press release that are
not statements of historical fact may be deemed to be
forward-looking statements. Forward-looking statements are often
identified by terms such as “plans”, “expects”, “expected”,
“scheduled”, “estimates”, “intends”, “anticipates”, “hopes”,
“planned” or “believes”, or variations of such words and phrases,
or states that certain actions, events or results “may”, “could”,
“would”, “might”, “potentially” or “will” be taken, occur or be
achieved. More particularly, and without limitation, this press
release contains forward-looking statements contained in this press
release include statements concerning the future of FSD Pharma Inc.
and are based on certain assumptions that FSD Pharma has made in
respect thereof as of the date of this press release. FSD Pharma
cannot give any assurance that such forward-looking statements will
prove to have been correct.
Since forward-looking statements relate to future events and
conditions, by their very nature they require making assumptions
and involve inherent risks and uncertainties. The Company cautions
that although it believes the expectations and material factors and
assumptions reflected in these forward-looking statements are
reasonable as of the date hereof, there can be no assurance that
these expectations, factors and assumptions will prove to be
correct and these risks and uncertainties give rise to the
possibility that actual results may differ materially from the
expectations set out in the forward-looking statements. These
forward-looking statements are not guarantees of future performance
and are subject to a number of known and unknown risks and
uncertainties including, but not limited to: the fact that the drug
development efforts of both Lucid and FSD BioSciences are at a very
early stage; the fact that preclinical drug development is
uncertain, and the drug product candidates of Lucid and FSD
BioSciences may never advance to clinical trials; the fact that
results of preclinical studies and early-stage clinical trials may
not be predictive of the results of later stage clinical trials;
the uncertain outcome, cost, and timing of product development
activities, preclinical studies and clinical trials of Lucid and
FSD BioSciences; the uncertain clinical development process,
including the risk that clinical trials may not have an effective
design or generate positive results; the potential inability to
obtain or maintain regulatory approval of the drug product
candidates of Lucid and FSD BioSciences; the introduction of
competing drugs that are safer, more effective or less expensive
than, or otherwise superior to, the drug product candidates of
Lucid and FSD BioSciences; the initiation, conduct, and completion
of preclinical studies and clinical trials may be delayed,
adversely affected, or impacted by COVID-19 related issues; the
potential inability to obtain adequate financing; the potential
inability to obtain or maintain intellectual property protection
for the drug product candidates of Lucid and FSD BioSciences; and
other risks. Accordingly, readers should not place undue reliance
on the forward-looking statements contained in this press release,
which speak only as of the date of this press release.
Further information regarding factors that may cause actual
results to differ materially are included in the Company’s annual
and other reports filed from time to time with the Canadian
Securities Administrators on SEDAR (www.sedar.com) and with the
U.S. Securities and Exchange Commission on EDGAR (www.sec.gov),
including the Company’s Annual Report on Form 20-F for the fiscal
year ended December 31, 2021, under the heading “Risk Factors.”
This list of risk factors should not be construed as exhaustive.
Readers are cautioned that events or circumstances could cause
results to differ materially from those predicted, forecasted or
projected. The forward-looking statements contained in this
document speak only as of the date of this document. FSD Pharma
does not undertake any obligation to publicly update or revise any
forward-looking statements or information contained herein, except
as required by applicable laws. The forward-looking statements
contained in this document are expressly qualified by this
cautionary statement.
Neither the Canadian Securities Exchange nor its regulation
services provider accept responsibility for the adequacy or
accuracy of this release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230330005279/en/
Zeeshan Saeed, Founder, President and Executive Co-Chairman of
the Board, FSD Pharma Inc. Email: Zsaeed@fsdpharma.com Telephone:
(416) 854-8884
Investor Relations: Email: ir@fsdpharma.com, info@fsdpharma.com
Website: www.fsdpharma.com
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