FSD Pharma Inc Incorporates New Subsidiary to Capitalize on Drug Development Incentives in Australia
January 09 2023 - 08:30AM
Business Wire
FSD Pharma Inc Announces Three Key Additions
to Scientific and Clinical Expert Committee
FSD Pharma Inc Announces It Is Investigating
Other Products Addressing Acute Medical Needs Due to Substances of
Abuse Such as Alcohol
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 to address ailments affecting millions worldwide, is
pleased to announce:
- the incorporation of a new subsidiary to capitalize on drug
development incentives in Australia
- the appointments of Dr. Jeremy Chataway, Dr.Ashwin Dhanda, and
Dr. Anh Lê to its Scientific and Clinical Expert Committee,
and
- it is investigating other products addressing acute medical
needs due to substances of abuse such as alcohol
FSD Pharma recently established an Australian subsidiary to
facilitate its development of Lucid-Psych (Lucid-201) and
potentially other assets. “We are excited about the incorporation
of FSD Pharma Australia, where we have an excellent opportunity to
advance our pipeline,” said Mr. Zeeshan Saeed, President of FSD
Pharma. “Australia is a hotbed for clinical stage biotech
companies, and our drug development programs will be able to take
advantage of facilities offered by various government incentives in
Australia,” added Mr. Saeed.
“Our immense progress in 2022 was possible due to the teamwork
at Lucid’s headquarters in Toronto and the brilliant guidance from
the leading authorities serving on our Scientific and Clinical
Expert Committee. I am very pleased that Drs. Chataway, Dhanda and
Lê have agreed to join our international panel to contribute to our
current and new programs,” said Dr. Lakshmi Kotra, CEO of Lucid
Psycheceuticals, a wholly owned subsidiary of FSD Pharma. “We
continue to innovate, addressing some of the most challenging and
acute needs in medicine today. Our current programs in Mast Cell
Activation Syndrome, Multiple Sclerosis, and mental health, and
exploratory programs will benefit tremendously from the collective
expertise of our accomplished advisors,” added Dr. Kotra.
Dr. Jeremy Chataway, a world-renowned neurologist and clinical
trialist, is a Consultant Neurologist at National Hospital for
Neurology and Neurosurgery (U.K.), and Co-Programme Lead for
Neurodegenerative Diseases at University College London. Dr.
Chataway spent a significant amount of his career centered around
clinical trials in neurology, particularly in randomized clinical
trials and multiple sclerosis. In addition to his many
accomplishments, Dr. Chataway served as the lead neurologist for
the 2012 London Olympic Games. Dr. Chataway received his Bachelor
of Medicine & Surgery from Oxford University, and Doctor of
Philosophy from Cambridge University. He is a fellow of the Royal
College of Physicians (UK).
Dr. Ashwin Dhanda is a consultant hepatologist at University
Hospitals Plymouth NHS Trust (UK) and an Associate Professor in the
Faculty of Science at the University of Plymouth. Dr. Dhanda is an
expert in the study of acute and chronic liver disease and in liver
transplantation. He is the Alcohol Lead within the Southwest Liver
Unit at University Hospitals Plymouth and is the lead for the
British Association for the Study of the Liver alcohol-related
liver disease Special Interest Group. Dr. Dhanda received his
Bachelor of Medicine & Surgery from the University of
Edinburgh, and Doctor of Philosophy from University of Bristol. Dr.
Dhanda is a fellow of the Royal College of Physicians (UK).
Dr. Anh Dzung Lê is a Senior Scientist and Head of Neurobiology
of Alcohol Lab in the Campbell Family Mental Health Research
Institute at CAMH (Toronto) and a Professor of Pharmacology at the
University of Toronto. He is investigating the neurochemical
mechanisms underlying the effects of stress on relapses to alcohol.
Dr. Lê is also investigating the biological bases for the co-abuse
of alcohol and nicotine. Dr. Lê received his Doctor of Philosophy
from the University of Toronto.
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 Psycheceuticals 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
drugs of abuse such as alcohol. Lucid-MS is a molecular compound
identified for the potential treatment of neurodegenerative
disorders.
Forward Looking Information
Certain statements contained herein are “forward-looking
statements.” Often, but not always, forward-looking statement can
be identified by the use of words 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. Forward-looking statements contained in this press
release include statements relating to the future of FSD Pharma
Inc. FSD Pharma cannot give any assurance that such forward-looking
statements will prove to have been correct. The reader is cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release.
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 is believed that the assumptions are reasonable in
the circumstances, 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. Factors
that may cause such material differences include without
limitation: 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. 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) under the heading “Risk Factors.”
Any forward-looking statement contained in this release speaks only
as of its date. The Company does not undertake to update any
forward-looking statements, except to the extent required by
applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20230108005077/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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