FSD Pharma Receives Institutional Review Board Approval to Study the Safety and Efficacy of Unbuzzd(TM) in Acute Alcohol Intoxication

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[{"type":"text","content":"FSD Pharma Receives Institutional Review Board Approval to Study the Safety and Efficacy of Unbuzzd(TM) in Acute Alcohol IntoxicationTORONTO, ON / ACCESSWIRE / June 4, 2024 / FSD Pharma Inc. (NASDAQ:HUGE)(CSE:HUGE)(FRA:0K9A) (\"FSD Pharma\"), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions to address ailments affecting millions worldwide, today confirms that it has received institutional review board (IRB) approval for its METAL-2 trial in the USA. This IRB approval allows our team to begin recruiting clinical trial participants and to plan the execution of the clinical study.\"We are excited that the METAL-2 trial has received IRB approval, allowing us to advance this clinical study in the United States. This marks an important milestone in our clinical research in the field of acute alcohol intoxication,\" said Dr. Andrzej Chruscinski, Vice-President of Clinical and Scientific Affairs at FSD Pharma.About FSD PharmaFSD Pharma is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc. (\"Lucid\"), FSD is focused on the research and development of its lead compound, Lucid-MS (formerly Lucid-21-302) (\"Lucid-MS\"). Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. FSD Pharma invented unbuzzd™ and spun it out its OTC version to a company, Celly Nutrition, led by industry veterans. FSD retains ownership of 25.71% (March 31, 2024) of Celly Nutrition Corp. at www.cellynutrition.com. The agreement with Celly Nutrition also includes royalty payments of 7% of sales from unbuzzd ™ until payments to FSD Pharma total $250 million. Once $250 million is reached, the royalty drops to 3% in perpetuity. Additionally, FSD Pharma retains a large tax loss carry forward of approximately CAD$130 million and could be utilized in the future to offset tax payable obligations against future profits. FSD Pharma retains 100% of the rights to develop similar product or alternative formulations specifically f...

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