Breaking News – FSD Pharma Announces Decision to Surrender Health Canada Licenses – Selling Cobourg Plant

In Local

FV Pharma to shut down operations within 30 days –

FSD Pharma Inc. (Nasdaq: HUGE) (CSE: HUGE.CN) (FRA: 0K9A) (“FSD Pharma” or the “Company”) today announced that it has notified Health Canada of the Company’s decision to forfeit the licenses of its wholly-owned subsidiary, FV Pharma, Inc. (“FV Pharma”) and suspend all activities by FV Pharma within 30 days of the notification date. FSD Pharma has begun the process of liquidating all FV Pharma assets, including the sale of the Company’s cannabis production facility in Cobourg, Ontario.

“It is now clear to us that our shareholder value is best served in closing down our medicinal grade cannabis operation in Cobourg, Ontario and reinforcing steps to advance pharmaceutical R&D efforts on our lead compound FSD201 (ultra-micronized PEA) and continuing to explore the acquisition of other compelling compounds to expand our drug development pipeline,” said Raza Bokhari, MD, Executive Co-Chairman & CEO.

“Our pharmaceutical R&D team led by Dr. Edward Brennan is actively working to submit an Investigational New Drug Application (IND) to the FDA for the use of FSD201 (ultra-micronized PEA) to treat hospitalized COVID-19 patients by down-regulating the over-expressed pro-inflammatory cytokine immune response to SARS-CoV-2 virus infection. We are hopeful to initiate the phase 2 clinical trial before the end of this year and remain cautiously optimistic that our study may improve treatment outcome for COVID-19 patients.”

The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus) at this time.

About FSD Pharma

FSD Pharma Inc. is a publicly-traded holding company, since May 2018.

FSD Pharma BioSciences, Inc., a wholly-owned subsidiary, is a specialty biotech pharmaceutical R&D company focused on developing over time multiple applications of its lead compound FSD201, by down-regulating the cytokines to effectuate an anti-inflammatory response.

Pete Fisher
Author: Pete Fisher

Has been a photojournalist for over 30-years and have been honoured to win numerous awards for photography and writing over the years. Best selling author for the book Highway of Heroes - True Patriot Love

Join Our Newsletter!

Want to keep up to date on news and events in Northumberland? Subscribe to newsletter!

You may also read!

HKPR District Health Unit – Fight the Bite! Tips to Combat Ticks and Lyme Disease

Preventative tips to keep you and your family safe outside. Warmer weather is coming, and the Haliburton, Kawartha, Pine Ridge

Read More...

Cobourg Police – Ajax Man Charged with Theft (No Name Released)

A 35-year-old Ajax man was arrested for theft after police responded to a call Monday morning. On Monday, March 25,

Read More...

Don’t Miss Special Wizard of Oz Selfie Ops

By Cecilia Nasmith/Today's Northumberland Coming in April to the Victoria Hall lobby and the Cobourg Public Library – photo ops

Read More...

Mobile Sliding Menu

Terms | Privacy |