FSD Pharma Inc (OTC: FSDDF) announced this week it closed a deal to acquire Prismic Pharmaceuticals, a U.S.-based specialty pharmaceutical company dedicated to addressing the opioid crisis.
Through the utilization of its micro-PEA platform, the company seeks to develop novel, non-addictive prescription drugs. Such formulations impact the endocannabinoid system. This means that lower doses of drugs can be used to achieve the desired therapeutic effect.
FSD is focused on the research and development of synthetic cannabinoid treatments for CNS disorders.
Need more cannabis news? Check out all of our coverage here.
Commenting on the purchase, FSD Pharma’s CEO Raza Bokhari told Benzinga:
“The Prismic Pharmaceuticals acquisition demonstrates the strategic depth in our vision for FSD Pharma and signals a paradigm shift in the overall outlook of the company. FSD Pharma can now embark upon R&D of drugs through the various stages of the FDA approval process, with the goal of eventually making synthetic cannabinoid & opioid sparing prescription medications targeting the human endocannibinoid system and make them available for commercial use.”
Meet The Newest Accelerator For Minority-Owned Cannabis Businesses
See more from Benzinga
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.