New York, March 11, 2023 - PRISM MarketView - Biopharmaceutical company, FSD Pharma Inc. (Nasdaq: HUGE) has announced positive results from its Phase 1 study of Lucid-21-302 as a potential treatment to prevent disease progression in Multiple Sclerosis (MS) at the Americas Committee for Treatment and Research in Multiple Sclerosis (ACTRIMS) 2024 Forum.
The company’s first-in-human dose escalation study enrolled healthy volunteers and concluded that Lucid-21-302 is safe and well-tolerated, and demonstrated good oral absorption.
“This was a great opportunity to share our latest and positive results with the global multiple sclerosis community. We look forward to continuing the clinical development of this asset to advance groundbreaking therapies for the treatment of multiple sclerosis."
Dr. Andrzej Chruscinski, Vice President for Scientific and Clinical Affairs, FSD Pharma
Highlights
Lucid-21-302 is a first-in-class, non-immunomodulatory, neuroprotective compound with a unique mechanism of action for the treatment of MS.
It is a patented New Chemical Entity that has shown in preclinical models to prevent demyelination, a known cause of MS and other neurodegenerative diseases characterized by damage to the myelin sheath surrounding nerve fibers in the central nervous system.
ACTRIMS was founded in 1995 and is comprised exclusively of MS researchers, clinicians and key stakeholders. The annual conference is the largest of its kind in North America in MS.
About FSD Pharma
FSD Pharma is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly-owned subsidiary, Lucid Psycheceuticals Inc. (“Lucid“), FSD is focused on the research and development of its lead compound, Lucid-MS (formerly Lucid-21-302) (“Lucid-MS“). Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. FSD Pharma has also licensed unbuzzd™, a proprietary formulation of natural ingredients, vitamins, and minerals to help with liver and brain function for the purposes of quickly relieving individuals from the effects of alcohol consumption for use in the consumer recreational sector, to Celly Nutrition Corp. (“Celly Nu“) and is entitled to a royalty on the revenue generated by Celly Nu from sales of products created using the technology rights granted under the licensing agreement. FSD Pharma continues its R&D activities to develop novel formulations for alcohol misuse disorders and continues the development of such treatments for use in the healthcare sector. FSD maintains a portfolio of strategic investments through its wholly-owned subsidiary, FSD Strategic Investments Inc., which represent loans secured by residential or commercial property.
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