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Company Seeking to Initiate Phase 1 Clinical Trial for its First-in-Class Multiple Sclerosis Drug Candidate
FSD Pharma Inc. (NASDAQ:HUGE) (CSE:HUGE) (FRA: 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 the submission of the Company's Clinical Trial Application (CTA) for a planned Phase-1 clinical trial for Lucid-MS, a candidate for the treatment of Multiple Sclerosis (MS).
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. 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, as shown in a video available at: https://fsdpharma.com/our-science/.
"This is an exciting time for our company, shareholders, and most importantly for the MS community," said Dr. Lakshmi Kotra, CEO of Lucid Psycheceuticals, a wholly owned subsidiary of FSD Pharma. "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."
