FSD Pharma Receives Ethics Committee Approval for Phase-1 Clinical Trial in Australia

TORONTO, ON / ACCESSWIRE / June 27, 2024 / FSD Pharma Inc. (NASDAQ:HUGE)(CSE:HUGE)(FRA:0K9A) announced it has gained approval from the Human Research Ethics Committee (HREC) in Australia for a Phase-1 Multiple Ascending Dose study of Lucid-21-302 (Lucid-MS). This trial is designed to evaluate the safety and pharmacokinetics of Lucid-21-302 in healthy adult participants.

Lucid-21-302 is a neuroprotective compound aimed at treating multiple sclerosis (MS). It has shown promise in preclinical models by preventing demyelination, which affects the myelin sheath surrounding nerve fibers in the central nervous system.

"Receiving HREC approval marks a significant step for the clinical development of Lucid-21-302," said Dr. Andrzej Chruscinski, Vice-President, Scientific and Clinical Affairs at FSD Pharma.

Additionally, FSD Pharma issued 400,000 Class B Subordinate Voting shares to settle an aggregate of $120,000 of debt.