Mr. Allan, the 2017 winner of the prestigious
Julia Levy Award, to collaborate with 2021 Julia Levy Award winner
Dr. Lakshmi P. Kotra, CEO of FSD Pharma subsidiary Lucid
Psycheceuticals
FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FRE: 0K9A) (“FSD
Pharma” or the “Company”), a life sciences holding
company dedicated to building a portfolio of assets and biotech
solutions, announced the appointment of David Allan and John
McGraw, PhD, MSc, to the Company’s Advisory Board.
“Mr. Allan and Dr. McGraw both have impressive careers in the
field of healthcare and biotechnology underscored by tremendously
successful exits and we are excited to welcome them to our team,”
commented Anthony Durkacz, Founder, Co-Chairman, and Interim Chief
Executive Officer at FSD Pharma. “Our drug candidates have
attracted an unparalleled group of advisors and staff as we
position to initiate clinical trials, and the talents of these two
seasoned industry executives joining in our mission to improve
patient outcomes in challenging diseases such as multiple
sclerosis, major depression disorder and inflammatory disorders,”
added Mr. Durkacz.
David Allan has been a member of the Awards Selection Committee
of Canada's Network of Centers of Excellence; the Multidisciplinary
Assessment Committees of the Canada Foundation for Innovation, the
Ontario Biotechnology Advisory Board and was, formerly, a Governor
of the Toronto Stock Exchange. He is the Principal at Cresswell
Advisors Inc; was the Founding and Sunset Chairman, and CEO from
1998 to 2011, of YM BioSciences Inc. until its acquisition by
Gilead Sciences (Nasdaq: GILD) in 2013; Founding Chairman of
Formation Biologics, acquired by Bristol Myers Squibb (NYSE: BMY)
in 2020, and Executive Chairman of Stem Cell Therapeutics Inc.,
acquiring Trillium Therapeutics in 2013, and itself acquired by
Pfizer Inc. (NYSE: PFE) in 2021. Currently, Managing Director and
Board member of eQcell Inc, a One Health company, the first to be
cleared by Health Canada for clinical trials in equine
osteoarthritis with mesenchymal stromal cells; an Advisory Board
member at Inteligex Inc., a company developing novel stem cell
therapies for the treatment of traumatic spinal cord injuries and
other diseases of the Central Nervous System, and Haygain Ltd, the
UK-based international equine health company. He is the recipient
of the 2017 Society of Chemical Industry's Julia Levy Award for
commercialization of bio-medical innovation; the 2016 Life Sciences
Ontario Leadership Award; and the 2012 BIOTEC Canada Gold Leaf
Award for Industry Leadership.
Dr. McGraw has more than 20 years of executive experience
commercializing health technologies including medical devices,
therapeutics, and health services. He is currently serving as
President and Director, at Izotropic Corporation, a company
developing a dedicated breast computed tomography (CT) imaging
platform, and President of Spratley Advisors Inc., an advisory
company with drug development experience across many therapeutic
areas. Previously, Dr. McGraw served as VP of Operations for
Novadaq Technologies Inc., a medical device imaging company
acquired by Stryker Corporation in 2017 for approximately CDN$900
million, and SVP Business Development & Strategy for CML
HealthCare Inc., a medical imaging service and laboratory medicine
provider acquired by OMERS and merged with LifeLabs Medical
Laboratory Services in 2013 for approximately CDN$1.2 billion.
Prior to those positions, Dr. McGraw was a Co-Founder of medical
device development company Trimanus Medical. Dr. McGraw earned his
MSc and PhD from the University of British Columbia focusing on
brain injury and repair. “This is an exciting time for FSD as the
company is preparing to enter clinical trials for diseases that
have significant unmet needs and I look forward to working with the
advisors and management team,” stated Dr. McGraw.
About FSD Pharma
FSD Pharma Inc., with only 38.4 million shares
issued/outstanding, is a biotechnology company with three drug
candidates in different stages of development. FSD BioSciences,
Inc. (“FSD BioSciences”), a wholly owned subsidiary, is
focused on pharmaceutical research and development of its lead
compound, ultra-micronized palmitoyl ethylamine (“PEA”) or
FSD-PEA (formerly called FSD-201). Lucid Psycheceuticals Inc.
(“Lucid”), a wholly owned subsidiary, is focused on the
research and development of its lead compounds, Lucid-PSYCH
(formerly Lucid-201) and Lucid-MS (formerly Lucid-21-302). Lucid
PSYCH is a molecular compound identified for the potential
treatment of mental health disorders. Lucid-MS is a molecular
compound identified for the potential treatment of
neurodegenerative disorders.
Forward Looking Information
Certain statements contained herein are “forward-looking
statements.” Often, but not always, forward-looking statement can
be identified by the use of words such as “plans”, “expects”,
“expected”, “scheduled”, “estimates”, “intends”, “anticipates”,
“hopes”, “planned” or “believes”, or variations of such words and
phrases, or states that certain actions, events or results “may”,
“could”, “would”, “might”, “potentially” or “will” be taken, occur
or be achieved. Forward-looking statements contained in this press
release include the comments made with respect to advancing the
Company’s research into Lucid PSYCH, including the anticipated
production and clinical development of Lucid-PSYCH and the
advancement of Lucid PYSCH from research into clinical trials and
any potential commercially viable therapeutic application, the
efforts to advance ultramicronized Palmitoylethanolamide and
develop of applications therefor evaluation of the commercial
viability of its principal drug compound, and the statements made
by Anthony Durkacz regarding the Company’s goal of rapidly moving
Lucid-PSYCH from bench to clinic by obtaining IND approval and
initiating a Phase 1 clinical study future development of Lucid
PYSCH. FSD cannot give any assurance that such forward-looking
statements will prove to have been correct. The reader is cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release.
Since forward-looking statements relate to future events and
conditions, by their very nature they require making assumptions
and involve inherent risks and uncertainties. The Company cautions
that although it is believed that the assumptions are reasonable in
the circumstances, these risks and uncertainties give rise to the
possibility that actual results may differ materially from the
expectations set out in the forward-looking statements. Factors
that may cause such material differences include without
limitation: the fact that the drug development efforts of both
Lucid and FSD BioSciences are at a very early stage; the fact that
preclinical drug development is uncertain, and the drug product
candidates of Lucid and FSD BioSciences may never advance to
clinical trials; the fact that results of preclinical studies and
early-stage clinical trials may not be predictive of the results of
later stage clinical trials; the uncertain outcome, cost, and
timing of product development activities, preclinical studies and
clinical trials of Lucid and FSD BioSciences; the uncertain
clinical development process, including the risk that clinical
trials may not have an effective design or generate positive
results; the potential inability to obtain or maintain regulatory
approval of the drug product candidates of Lucid and FSD
BioSciences; the introduction of competing drugs that are safer,
more effective or less expensive than, or otherwise superior to,
the drug product candidates of Lucid and FSD BioSciences; the
initiation, conduct, and completion of preclinical studies and
clinical trials may be delayed, adversely affected, or impacted by
COVID-19 related issues; the potential inability to obtain adequate
financing; the potential inability to obtain or maintain
intellectual property protection for the drug product candidates of
Lucid and FSD BioSciences; and other risks. Further information
regarding factors that may cause actual results to differ
materially are included in the Company’s annual and other reports
filed from time to time with the Canadian Securities Administrators
on SEDAR (www.sedar.com) and with the U.S. Securities and Exchange
Commission on EDGAR (www.sec.gov) under the heading “Risk Factors.”
Any forward-looking statement contained in this release speaks only
as of its date. The Company does not undertake to update any
forward-looking statements, except to the extent required by
applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20220421005644/en/
Zeeshan Saeed, Founder, President and Executive Co-Chairman of
the Board, FSD Pharma Inc. Email: Zsaeed@fsdpharma.com Telephone:
(416) 854-8884
Investor Relations: Email: ir@fsdpharma.com , info@fsdpharma.com
Website: www.fsdpharma.com
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