TORONTO - FSD Pharma Inc. (NASDAQ:HUGE)(CSE:HUGE)(FRA:0K9A), a biopharmaceutical company, has announced the results of its Phase-1 clinical study for a multiple sclerosis (MS) treatment, Lucid-21-302.
The disclosure came following the company's participation in the Americas Committee for Treatment and Research in Multiple Sclerosis (ACTRIMS) 2024 Forum, which took place from February 29 to March 2 in West Palm Beach, Florida.
The study's findings, presented during a poster session at the conference, indicated that Lucid-21-302 was safe and well-tolerated in healthy volunteers at doses ranging from 50-300 mg. The drug showed good oral absorption and proportional drug exposure to dose, with no serious adverse events (SAEs) reported. Most adverse events (AEs) were deemed unlikely related or unrelated to the drug.
Lucid-21-302, a first-in-class, non-immunomodulatory, neuroprotective compound with a unique mechanism of action, is designed to prevent demyelination, a key factor in the progression of MS and other neurodegenerative diseases. Demyelination involves the damage to the myelin sheath that surrounds nerve fibers in the central nervous system.
Dr. Andrzej Chruscinski, Vice President for Scientific and Clinical Affairs at FSD Pharma, expressed optimism about the clinical development of Lucid-21-302, aiming to advance therapies for MS treatment.
FSD Pharma focuses on innovative assets and biotech solutions for neurodegenerative and metabolic disorders, as well as alcohol misuse disorders. Its subsidiary, Lucid (NASDAQ:LCID) Psycheceuticals Inc., is actively researching and developing Lucid-21-302.
Additionally, the company has licensed a proprietary formulation designed to support liver and brain function after alcohol consumption to Celly Nutrition Corp., from which it will receive royalty revenues.
The information presented in this article is based on a press release statement, and it provides an overview of the recent developments regarding FSD Pharma's clinical trial results for its MS drug candidate.
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