HUGE:CC - InvestorNewsBreaks - FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9A) Announces New CEO
FSD Pharma (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9A), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative, inflammatory and metabolic disorders, has appointed a new CEO. The company announced that Zeeshan Saeed will be the new FSD Pharma CEO, replacing Anthony Durkacz, who has been serving as interim CEO since July 2021. According to the announcement, this appointment is in accordance with a multiyear success plan as the company focuses on commercialization of two products: its UNBUZZD(TM) alcohol-misuse product for consumer and hospital markets and Lucid-MS for neurodegenerative disorders. A cofounder of FSD Pharma and president of the company since 2019, Saeed was elected CEO during a meeting of the board of directors, which was held last week. Saeed will succeed fellow FSD Pharma cofounder Anthony Durkacz, who will continue in his role of executive cochairman of the board of directors.
According to the announcement, the company anticipates reallocating capital by putting on hold or ending clinical development of its proprietary ultra-micronized PEA formulation for the treatment of inflammatory diseases and Lucid-Psych for mental health disorders, allowing it to deliver maximum share value by spending less money. “I want to first thank Anthony for his unwavering leadership and oversight to navigate the company through hard times to the fundamentally sound, financially secure company it is today in a short period of time,” said FSD Pharma CEO Zeeshan Saeed in the press release. “He has cultivated a winning culture at FSD Pharma and was instrumental in the addition of key technology and people like Dr. Kotra and his world-class team of researchers. Anthony will remain instrumental to our future success as we narrow our focus to emphasize our strategic goals of commercializing UNBUZZD as a first-in-class alcohol misuse product and clinical work on Lucid-MS.”
To view the full press release, visit https://ibn.fm/tRyZO
About FSD Pharma Inc.
FSD Pharma Inc. is a biotechnology company with two candidates in different stages of development. Lucid Psychss Inc., a wholly owned subsidiary, is focused on the research and development of its lead compounds, Lucid-MS and UNBUZZD. Lucid-MS is a molecular compound identified for the potential treatment of neurodegenerative disorders. UNBUZZD is a proprietary formulation of natural ingredients, vitamins and minerals to help with liver and brain function for the purposes of potentially quickly relieving from the effects of alcohol consumption, such as inebriation, and restoring normal lifestyle. For more information about the company, please visit www.FSDPharma.com.
About InvestorWire
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.
As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer
InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
Editor@NetworkNewsWire.com
InvestorWire is part of the InvestorBrandNetwork.