FSD Pharma Inc. has submitted a Clinical Trial Application for a planned Phase-1 clinical trial for LUCID-MS, a candidate for the treatment of Multiple Sclerosis. Lucid-MS is a first-in-class neuroprotective compound with a novel mechanism action which, in preclinical models, has shown to prevent myelin degradation (demyelination), a cause for MS and other neurodegenerative diseases. Preclinical evidence also showed that Lucid-MS promotes functional recovery in experimental animal models of MS. Lucid-MS has demonstrated excellent results in several animal models.

According to a Datamonitor Healthcare report from March 2022, there were approximately 79,000 cases of MS in Canada, 553,000 in the United States, with 2.2 million worldwide. In addition to Lucid-MS, FSD Pharma has two other drug candidates in different stages of development. Lucid-MS, along with Lucid-Psych are being developed by Lucid Psycheceuticals Inc., a wholly owned subsidiary, led by Dr. Lakshmi P. Kotra, B.Pharm.(Hons), Ph.D., which is focused on the research and development of its lead compounds.

Lucid-Psych is a molecular compound identified for the potential treatment of mental health disorders, and expanding this category, the company is investigating other products addressing acute medical needs due to the abuse of drugs such as alcohol.