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FSD Pharma appoints Anthony Durkacz as its new interim chief executive officer

Durkacz previously served on FSD Pharma’s board of directors as its co-chairman

FSD Pharma -
FSD Pharma said it will provide further updates to its shareholders in the coming weeks

FSD Pharma (CSE:HUGE, NASDAQ:HUGE) Inc has announced the appointment of Anthony Durkacz as the company’s new interim chief executive officer (CEO) as well as the reinstatement of Zeeshan Saeed as FSD Pharma (CSE:HUGE, NASDAQ:HUGE)’s president.

Durkacz had previously served on FSD Pharma (CSE:HUGE, NASDAQ:HUGE)’s board of directors as its co-chairman.

“The Company now has the benefit of a strong board of directors who bring with them highly-relevant experience and knowledge,” Durkacz said in a statement.

READ: FSD Pharma throws resources behind legacy anti-inflammatory drug as potential coronavirus therapy

“I look forward to continue working with them to restore FSD and realize its full potential,” the interim CEO added.

FSD Pharma president Zeeshan Saeed also commented, stating: “As we move forward, we look forward to providing further updates to shareholders in the coming weeks. We remain committed to fulfilling all of the strategic and operational goals outlined in our communications to shareholders prior to the May 14, 2021 shareholder meeting.”

Durkacz replaces the company’s previous CEO Dr. Raza Bokhari, whose employment was terminated with cause.

As well, FSD Pharma noted the progress it has made since its last shareholders meeting, including:

  • Effectively renewing its focus on acquiring biotechnology assets as well as currently evaluating a number of strategic investment and acquisition opportunities;
  • Engaging a prominent biotechnology investment firm and is completing an audit of its Phase 2 Clinical Trial to determine its viability and;
  • Retaining an independent advisor to evaluate more broadly its principal drug compound, ultramicronized palmitoylethanolamide (PEA), or FSD201, in order to evaluate its current commercial viability

FSD Pharma is a publicly-traded holding company that owns subsidiary FSD Pharma BioSciences Inc, a specialty biotech pharmaceutical 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.

Contact Sean at sean@proactiveinvestors.com

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