FSD Pharma to Acquire Prismic Pharmaceuticals
This transaction positions FSD to help contribute to addressing the opioid crisis through use of synthetic cannabinoids
FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD Pharma” or the “Company”) and Prismic Pharmaceuticals Inc. (“Prismic”), a US-based specialty R&D pharmaceutical company, announced today that they have entered into a securities exchange agreement dated April 22, 2019 (the “Agreement”) pursuant to which FSD Pharma has agreed to acquire all of the outstanding securities of Prismic (the “Transaction”). Prismic is developing novel non-addictive prescription drugs with unique safety profiles with the goal of addressing the opioid crisis based on formulations utilizing micro-palmitoylethanolamide’s (“PEA”) “entourage” effect on certain drugs impacting the endocannabinoid system.