FSD Pharma Inc, a publicly-traded holding company since 2018, owns subsidiary FSD Pharma BioSciences Inc, a specialty biotech pharmaceutical research and development (R&D) firm focused on developing multiple applications of its lead anti-inflammatory drug FSD-201. The drug is now one of several therapeutics being advanced that could help reduce severe and deadly lung infection in coronavirus (COVID-19) patients. In September 2021, the company closed the acquisition of Canadian psychedelic pharmaceutical company Lucid Psycheceuticals Inc for about C$11.3 million in stock.