HUGE:CC - InvestorNewsBreaks - FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9A) Enters Agreement to Grant Exclusive Rights to Recreational Alcohol Misuse Technology
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, today announced its entry into a non-binding letter of intent. The agreement, dated June 19, 2023, is with 1319741 B.C. Ltd., which will be renamed “Celly Nutrition Inc.” (“Celly Nu”), an unlisted reporting issuer, and sets forth the basic terms and conditions upon which Celly Nu will be granted exclusive rights to recreational applications for FSD Pharma’s alcohol misuse technology designed to accelerate alcohol detoxification. FSD Pharma will retain all rights to medical / pharmaceutical applications under its umbrella. “We chose to differentiate pipelines compartmentalizing the pharmaceutical products from recreational products, to enable it to be brought to market faster,” said Zeeshan Saeed, president and executive co-chairman at FSD Pharma. “I am thrilled to provide HUGE shareholders an extremely rare opportunity to participate in a company that not only has a strong and diverse pharmaceutical pipeline, but also a venerable marketing gurus Kevin Harrington and Gerry David are paired for the first time to provide oversight and direction for a first-in-class product.”
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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, 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 Psychss 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 the abuse of drugs 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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