After re-vamping the former Kraft plant in Cobourg to grow medicinal cannabis, FV Pharma will be no more.
FV Pharma’s parent company, FSD Pharma, announced yesterday (July 30) that it will be liquidating assets, including the cannabis production facility on William Street.
Executive co-chairman and chief executive officer of FSD Pharma, Raza Bokhari, says this is the best option for shareholders, and that the company’s focus will now be on research and development.
The team is working to submit an Investigational New Drug Application to the Food and Drug Administration for the use of compound FSD201 to treat patients hospitalized with COVID-19.
FSD Pharma says the goal is to be in the clinical trial phase by the end of 2020.
We are working to arrange an interview with FSD Pharma to provide more information next week (Aug 4).
