BioMedNewsBreaks – FSD Pharma Inc.’s (NASDAQ: HUGE) (CSE: HUGE) (FSE: 0K9A) Lucid Psycheceuticals Files for Patent on Novel Formulations of Palmitoylethanolamide

FSD Pharma (NASDAQ: HUGE) (CSE: HUGE) (FSE: 0K9A), a life sciences holding company dedicated to building a portfolio of assets and biotech solutions, today announced that is wholly owned subsidiary, Lucid Psycheceuticals Inc., filed a provisional patent application on novel formulations of palmitoylethanolamide (“PEA”). According to the update, the new patent application is based on the results of completed preclinical animal toxicology studies and phase 1 clinical trial using FSD201 (ultramicronized PEA), sponsored by FSD Pharma. The company is diligently pursuing the clinical development of FSD201 for various indications. FSD Pharma recently announced the submission of an Investigational New Drug application with the U.S. Food and Drug Administration (“FDA”) and Health Canada detailing a planned phase 2 clinical trial of FSD201 for the treatment of a yet-to-be-disclosed inflammatory disorder. The company is fortifying its intellectual property position through additional novel formulations using PEA with superior biopharmaceutical profiles to serve patients in need. “New patent applications are a critical step for protecting our assets in the development of effective therapeutics targeting brain and inflammatory disorders,” said Dr. Lakshmi P. Kotra, CEO of Lucid Psycheceuticals. “Novel, high-quality treatments and intellectual property are important to us as an innovation-driven company, and I am very pleased with our team’s performance to stay on target towards the key milestones in 2022, including the planned phase 2 trial of FSD201.”

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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 Inc., a wholly owned subsidiary of FSD Pharma, is focused on pharmaceutical research and development of its lead compound, FSD201, an ultra-micronized PEA, for the treatment of inflammatory diseases. Lucid Psycheceuticals Inc., a wholly owned subsidiary of FSD Pharma, 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. 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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