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Biotech company FSD Pharma Inc. (NASDAQ:HUGE)’s Australian business FSD Pharma Australia Pty Ltd. has been approved by the Alfred Ethics Committee to begin a Phase 1 clinical trial of next-gen drug candidate Lucid-201, or Lucid-Psych, for cases of Major Depressive Disorder (MDD.)
See also: Psychedelic Trials Update: Treating Meth Addiction, Fibromyalgia & General Anxiety Disorder
The novel psychoactive compound is being developed both by FSD Pharma’s wholly-owned subsidiary Lucid Psycheceuticals Inc. outside Australia and by FSD Pharma Australia Pty Ltd in the country. CEO Dr. Lakshmi Kotra believes psychoactive molecules as new therapeutics for mental disorders “represent some of the most exciting areas of clinical research in healthcare today.”
Dr. Kotra further added that, as a company pursuing “total brain health,” it is expected that Lucid-Psytech constitutes a strategic fit for clinical development with the other existing pipeline programs targeting neurodegenerative disorders including multiple sclerosis and Alzheimer’s.
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Photo: Benzinga edit wirh photo by Raimundo79 and Sergey Nivens on Shutterstock.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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