FSD Pharma Inc (CSE:HUGE, NASDAQ:HUGE) announced it has submitted a Clinical Trial Application (CTA) for a planned Phase-1 clinical trial for Lucid-MS, a candidate for the treatment of multiple sclerosis (MS).
In a statement, FSD Pharma called Lucid-MS a “first-in-class neuroprotective compound” with a novel mechanism action that has shown to prevent myelin degradation, which can cause MS and other neurodegenerative diseases.
Preclinical evidence also showed that Lucid-MS promotes functional recovery in experimental animal models of MS, according to FSD.
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Dr Lakshmi Kotra, CEO of FSD subsidiary Lucid Psycheceuticals, called it an exciting time for the MS community.
“Multiple sclerosis is a debilitating disease without any cure, relegating patients and caregivers to significantly lower quality of life. There is an intense effort for disease-modifying treatments to address unmet needs especially for the treatment of progressive MS, and potentially that are non-immunomodulatory.”
As Kotra explained, Lucid-MS has a novel mechanism of action with a potential to address progressive stages of the disease. It is non-immunomodulatory in its mechanisms of action based on current evidence.
“We are optimistic about the potential of Lucid-MS and we are eager to initiate this clinical trial taking this one step closer to the patients,” Kotra said.
Toronto-based FSD Pharma is a biotechnology company with three drug candidates in different stages of development.
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