FSD Pharma Inc. (NASDAQ:HUGE) (CSE:HUGE) has announced the appointment of Nathan Coyle, the company's corporate controller as its interim chief financial officer with immediate effect, following the departure of Donal Carroll.
The company noted that Coyle joined FSD Pharma as corporate controller in 2020 and has 15 years of executive business experience as a finance leader in both public and private roles. He was previously with Illinois Tool Works where he was a key player in restructuring the organization, shaping the growth and streamlining businesses within his industrial packaging segment.
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After ITW, Coyle worked with a private organization implementing the same corporate strategies to maximize growth. He holds a Bachelor of Business Administration with honours from Brock University and is a Chartered Professional Accountant.
FSD Pharma Inc. is a publicly-traded holding company. FSD 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, ultra-micro PEA by down-regulating the cytokines to effectuate an anti-inflammatory response.
The company filed an IND with the US Food & Drug Administration (FDA) on August 28, 2020, which was approved on September 25, 2020, to initiate a phase 2 clinical trial for the use of FSD201 to treat coronavirus (COVID-19), the disease caused by the SARS-CoV-2 virus. The trial is currently underway and is expected to randomize 352 patients in a controlled, double-blind multicenter study.
Severe COVID-19 is characterized by an over-exuberant inflammatory response that may lead to a cytokine storm and ultimately death. The company is focused on developing ultra-micro PEA for its anti-inflammatory properties to avoid the cytokine storm associated with acute lung injury in hospitalized COVID-19 patients.
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