FSD Pharma’s New CEO is a Top GW Pharma Executive

Canada’s cannabis industry is projected to reach C$22.6 billion over the coming years, according to Deloitte, but the market pales in comparison to the global pharmaceutical industry—which could reach more than $1 trillion by 2020. Cannabis investors shouldn’t ignore the medical side of the business, which emerging research suggests could revolutionize several medical fields—especially in neurology.

FSD Pharma Inc. (CSE: HUGE) (OTC: FSDDF) (FRK: 0K9) recently appointed Rupert Haynes as Chief Executive Officer, which is significant because he formerly held a leadership position at GW Pharmaceuticals plc (NASDAQ: GWPH)—the world leader in cannabinoid research and development. Investors may want to take a closer look at the company given these developments and the ongoing progress at its Cobourg facility in Ontario.

In this article, we will look at Rupert Haynes impressive resume and how it dovetails into the company’s existing initiatives within the healthcare side of the business.

Haynes’ Impressive Resume

Rupert Haynes is a highly accomplished healthcare executive with nearly three decades of global pharmaceutical experience. Most recently, Mr. Haynes served as the Head of Global Marketing at GW Pharmaceuticals plc (NASDAQ: GWPH) in the United Kingdom. He oversaw the strategic development of the company’s cannabinoid pipeline spanning dozens of therapeutic areas, including neurodegenerative and neuropsychological conditions.

“Mr. Haynes has an impressive track record in pipeline and product development which is directly relevant to FSD’s vision of becoming a global cannabinoid-based pharmaceutical leader,” said FSD Pharma Co-Chairman Dr. Raza Bokhari. “He blends world class specialty pharmaceutical experience with a fast-paced biotech mindset that will help accelerate FSD’s growth and global expansion strategy.”

Prior to GW Pharmaceuticals, Mr. Haynes held numerous senior leadership positions at both large pharmaceutical and bespoke biotech firms, including Sobi, UCB Pharma, Bristol-Myers Squibb, UK, and Pharmacia & Upjohn. This pedigree will be invaluable to FSD Pharma as it seeks to build out its own cannabinoid-based clinical pipeline and bring innovative new products to market over the near-term.

Positioned for Strong Growth

The appointment of Rupert Haynes comes shortly after the FSD Pharma announced its intent to acquire Therapix Biosciences to develop novel cannabinoid therapies in pain, migraine, and other central nervous system disorders. Therapix’s flagship clinical program is THX-110, a proprietary combination drug based on dronabinol and PEA, which is undergoing two Phase II studies in Tourette Syndrome and obstructive sleep apnea.

The company also partnered with SciCann Therapeutics to develop novel cannabinoid products targeting a wide range of diseases. Most recently, the company announced the start of a pilot study evaluating SciCann’s proprietary “Steady Stomach” cannabidiol (CBD) combination product for the treatment of irritable bowel syndrome patients. These kinds of partnerships could significant advance its pipeline at a relatively low cost.

In addition to these clinical programs, the company is building out a 25,000 sq. ft. indoor grow space in a former Kraft plant in Ontario, with an additional 220,000 sq. ft. pending Health Canada’s approval. Management expects the facility to become operational during the first quarter of next year, and the facility could eventually support upwards of 3.8 million sq. ft. of cultivation space—potentially making it one of the largest indoor cultivators in the country.

Looking Ahead

FSD Pharma Inc. (CSE: HUGE) (OTC: FSDDF) (FRK: 0K9) represents a compelling investment opportunity within Canada’s nascent cannabis industry. With seasoned CEO at the helm, the company is well positioned to advance its cannabinoid-based clinical portfolio in conjunction with its partners. The company is also making progress at its Cobourg facility in Ontario that could make it one of the largest indoor licensed producers.

For more information, visit the company’s website at www.fsdpharma.com.

Disclaimer 

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About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.