FSD Pharma (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9A), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions to address ailments affecting millions worldwide, today announced the incorporation of a new subsidiary to capitalize on drug development incentives in Australia. The company also announced its expanded focus to investigate other products addressing acute medical needs due to substances of abuse such as alcohol, as well as the appointments of Dr. Jeremy Chataway, Dr.Ashwin Dhanda and Dr. Anh Lê to its scientific and clinical expert committee. “We are excited about the incorporation of FSD Pharma Australia, where we have an excellent opportunity to advance our pipeline,” said FSD Pharma President Zeeshan Saeed of the company’s recently established subsidiary to facilitate its development of Lucid-Psych (Lucid-201) and potentially other assets. “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.”
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About FSD Pharma Inc.
FSD Pharma 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, an ultra-micronized PEA, 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. For more information, visit the company’s website at www.FSDPharma.com.
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