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FSD Pharma Inc. (NASDAQ:HUGE) (CSE:HUGE) (FRE: 0K9A) (“FSD Pharma” or the “Company”), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions to address ailments affecting millions worldwide, today announces that it received “Study May Proceed” letter for the Investigational New Drug (“IND”) application from the U.S. Food and Drug Administration (“FDA”) and “Notice of Authorization” from Health Canada for its Phase 2 clinical trial of FSD201. The corresponding study protocol is titled “A Randomized, Double-Blind Placebo Controlled Parallel Group Study of Safety and Efficacy of FSD201 in Patients with Chronic Widespread Musculoskeletal Nociplastic Pain Associated with Idiopathic Mast Cell Activation Syndrome (Disorder)”.
“We are delighted to receive authorization to proceed with our planned efficacy clinical trial of FSD201 from both FDA and Health Canada. We are working with our clinical sites in the U.S. and Canada to initiate the study and intend to release more details on the study very soon,” said Dr. Lakshmi Kotra, CEO of FSD Pharma subsidiary Lucid Psycheceuticals. “Our regulatory and clinical teams led by Dr. Andrzej Chruscinski, Vice-President for Clinical and Scientific affairs, worked tirelessly with our expert advisors developing the protocols, and we are looking forward to the next stage of clinical development of FSD201. We believe FSD201 is a compelling drug candidate, and we are actively exploring opportunities for development partners and other synergistic collaborations that will maximize shareholder returns.”
FSD201 is a proprietary formulation of ultra-micronized palmitoylethanolamide (PEA). FSD Pharma’s successfully completed Phase 1 clinical trial showed FSD201 to be safe and well tolerated. This is especially important as chronic inflammatory diseases are the leading cause of death globally and the World Health Organization ranks chronic disease as the greatest threat to human health.1 This immense problem has limited treatment options.2 This is why FSD Pharma continues to work relentlessly to bring a new and safe inflammatory treatment option to market.
