VANCOUVER, British Columbia, Aug. 03, 2023 (GLOBE NEWSWIRE) -- FSD Pharma Inc. (NASDAQ:HUGE) (CSE:HUGE) (FSE:0K9A), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative, inflammatory and metabolic disorders, is today’s feature company by InvestmentPitch Media.
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In previous videos we have discussed FSD Pharma’s success in building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative, inflammatory and metabolic disorders, with a current pipeline of 3 drug candidates. Today, we are looking into the company’s recently executed definitive agreement to grant exclusive rights to Celly Nutrition or “Celly Nu”, to recreational applications for FSD Pharma's alcohol misuse technology and launch UNBUZZD, a revolutionary rapid alcohol detoxification drink.
Celly Nu will pay FSD a licence fee by issuing 100,000,000 shares and a 7% royalty on gross revenue should a product be commercialized.
The new product getting all the attention is UNBUZZD™, a new, great tasting functional beverage being developed by FSD Pharma with the expectations of providing relief from inebriation and accelerating alcohol metabolism, leading to reduced Breath Alcohol Concentration (BrAC). UNBUZZD™, a proprietary formulation of natural ingredients, vitamins, and minerals, helps with liver and brain function in order to quickly reduce the effects of alcohol consumption. The formulation was curated through scientific research to expediate recovery from inebriation and to accelerate ethanol metabolism in your body, potentially eliminating any performance concerns.
FSD is actively building a team for this new venture adding Kevin Harrington and Gerry David to its Advisory Board. They have cumulatively generated billions of dollars of sales and value for brands and shareholders and will be actively involved in Celly Nu, overseeing all operations, including marketing, with Gerry David taking the position of Chairman.
As an original “shark” on the hit TV show Shark Tank, Kevin Harrington is also the creator of the infomercial. Gerry David is best known for his five-year tenure as CEO at zero-calorie fitness drink maker Celsius Holdings, Inc. where he spearheaded a turnaround that resulted in a global sales explosion, influx of capital from notable strategic investors, and a rise in market capitalization that increased shareholder value 35-fold by exceeding $9 billion.
Celly Nu will be headed by new CEO, John Duffy, a strategy-driven and results-oriented executive with close to three decades of successful consumer goods experience. Most recently, John was Co-Founder, Executive VP and Chief Commercial Officer at Legends Access LLC where he created and managed the influencer, social media and e-commerce platforms while developing partnerships with fortune 500 clients. Prior to Legends Access, John spent more than 22 years in the Coca-Cola system including roles of increasing responsibilities across multiple functions, including Vice President of National Sales, where he led the customer management team responsible for the Coca-Cola systems’ largest foodservice distributor, Sysco.
Following a recent product testing, John Duffy placed the following post on Facebook. “I had the pleasure of visiting our partners at the FSD Pharma (Nasdaq:HUGE) HQ in Toronto, Canada last week. On day one of my visit, I tried out samples of UNBUZZD and it is simply amazing!!! It was a tough workday, I had to get my Blood Alcohol Content (BAC) up to just under .08 (validated by a breathalyzer). I then tried UNBUZZD, within 30 minutes I started to become much more alert and focused. By the time I passed 70 minutes my BAC had dropped from just under .08 to just over .05. Later that day I participated in regular meetings and the dinner with board members and investors. I have worked in the food and beverage industry since I was in college. UNBUZZD is one of the most innovative and disruptive new products that I have seen during my career. I look forward to Celly Nutrition bringing UNBUZZD to consumers around the US and Canada by the end of 2023.”
We’ve also captured a few comments posted on the company’s website by Gerry David, Cully Nu’s Chairman. “I have seen countless products throughout my career, and I can honestly say that I have never seen anything as unique and disruptive as the product FSD Pharma is developing to counteract alcohol intoxication and misuse. Truly a product that will affect so many lives in such a positive way. I look forward to helping make UNBUZZD™ a mainstream success.”
Looking at this from a strictly medical approach, Dr. Albert Wong, a member of FSD’s Expert Advisory Committee, posted this comment on the company’s website. “Alcohol intoxication is a common presentation in many patients who visit hospital emergency rooms, and I see this during every one of my shifts. These presentations can require substantial time and effort to manage. Anything that could accelerate recovery from alcohol-intoxication would free up valuable health care resources and provide additional treatment options for alcohol use disorders.”
FSD will retain all rights to medical and pharmaceutical applications under its umbrella to further develop the franchise.
Zeeshan Saeed, President and Executive Co-Chairman, stated: “This is a major milestone for our Company. It is a huge step in taking our science to a commercialized product. We have the best and brightest people leading this product commercialization and roll-out, as they were instrumental in the breakthrough, significant ramp up and success with Celsius.”
According to Grandview Research, the global hangover cure products market size was estimated at US $2.3 billion in 2023 and is projected to grow at a compound annual growth rate of 14.8% from 2023 to 2030, reaching US $6.2 billion.
The shares are trading at US$1.39 on NASDAQ. For more information on the company’s drug candidates, please visit the company’s website, www.FSDpharma.com, or contact Zeeshan Saeed, Founder, President and Executive Co-Chairman, at 416-854-8884 or email zsaeed@FSDPharma.com or IR@FSDPharma.com.
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