InvestmentPitch Media Video Discusses FSD Pharma’s Submission of its Clinical Trial Application for Planned Phase-1 Trial for Lucid-MS, a Candidate for Treatment of MS

Rhea-AI Summary

FSD Pharma Inc. (NASDAQ:HUGE) has submitted a Clinical Trial Application for a Phase-1 trial for LUCID-MS, a novel treatment candidate for Multiple Sclerosis (MS). LUCID-MS, a first-in-class neuroprotective compound, has demonstrated significant potential in preclinical studies by preventing myelin degradation, a key factor in MS. This compound also promotes functional recovery in experimental models. With approximately 2.2 million MS cases globally, there is a pressing need for effective treatments. FSD Pharma has two other drug candidates, enhancing its position in the biopharmaceutical sector.

Positive

• Submission of Clinical Trial Application for LUCID-MS, indicative of progress in drug development.
• LUCID-MS shows promise in preventing myelin degradation and promoting recovery in preclinical models.
• Addressing a significant market need, with approximately 2.2 million MS cases worldwide.
• FSD Pharma has two additional drug candidates in various stages of development.

Negative

• None.

VANCOUVER, British Columbia, Jan. 19, 2023 (GLOBE NEWSWIRE) -- FSD Pharma Inc. (NASDAQ:HUGE) (CSE:HUGE) (FSE:0K9A), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions to address ailments affecting millions worldwide, has submitted a Clinical Trial Application for a planned Phase-1 clinical trial for LUCID-MS, a candidate for the treatment of Multiple Sclerosis. Lucid-MS is a first-in-class neuroprotective compound with a novel mechanism action which, in preclinical models, has shown to prevent myelin degradation (demyelination), a cause for MS and other neurodegenerative diseases.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

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Preclinical evidence also showed that Lucid-MS promotes functional recovery in experimental animal models of MS. Lucid-MS has demonstrated excellent results in several animal models.

According to a Datamonitor Healthcare report from March 2022, there were approximately 79,000 cases of MS in Canada, 553,000 in the United States, with 2.2 million worldwide.

In addition to Lucid-MS, FSD Pharma has two other drug candidates in different stages of development.

Lucid-MS, along with Lucid-Psych are being developed by Lucid Psycheceuticals Inc., a wholly owned subsidiary, led by Dr. Lakshmi P. Kotra, B.Pharm.(Hons), Ph.D., which is focused on the research and development of its lead compounds.

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.

Dr. Lakshmi Kotra, CEO of Lucid Psycheceuticals, stated: “This is an exciting time for our company, shareholders, and most importantly for the MS community. Multiple Sclerosis is a debilitating disease without any cure, relegating patients and caregivers to significantly lower quality of life. There is an intense effort for disease-modifying treatments to address unmet needs especially for the treatment of progressive MS, and potentially that are non-immunomodulatory. Lucid-MS is a promising first-in-class agent with a novel mechanism of action with a potential to address progressive stages of the disease. Lucid-MS is non-immunomodulatory in its mechanisms of action based on current evidence. We are optimistic about the potential of Lucid-MS and we are eager to initiate this clinical trial taking this one step closer to the patients.”

FSD BioSciences, Inc., another 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.

The shares are currently trading at $1.35 on the Canadian Securities Exchange. For more information, please visit the company’s website, www.FSDpharma.com, or contact Zeeshan Saeed, contact Zeeshan Saeed, Founder, President and Executive Co-Chairman, at 416-854-8884 or email info@FSDPharma.com or IR@FSDPharma.com.

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FAQ

What is the purpose of the Phase-1 clinical trial for LUCID-MS by FSD Pharma?

The Phase-1 clinical trial aims to evaluate the safety and efficacy of LUCID-MS as a treatment for Multiple Sclerosis.

What are the preclinical results of LUCID-MS?

Preclinical studies indicate that LUCID-MS can prevent myelin degradation and promote functional recovery in experimental models of MS.

How many Multiple Sclerosis cases are there worldwide?

There are approximately 2.2 million cases of Multiple Sclerosis globally, with significant numbers in Canada and the U.S.

What other drug candidates does FSD Pharma have besides LUCID-MS?

FSD Pharma has two other drug candidates in various stages of development, enhancing their biopharmaceutical portfolio.

What potential does LUCID-MS have in treating progressive MS?

LUCID-MS is designed as a non-immunomodulatory agent, potentially addressing unmet needs in the treatment of progressive MS.