A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Inc () (CSE:HUGE.CN) (FRA:0K9A) announced on Monday that it has submitted an Investigational New Drug Application (IND) application to the US Food and Drug Administration (FDA) for the use of its lead candidate FSD-201, or anti-inflammatory ultra-micronized-palmitoylethanolamide (PEA), to treat coronavirus (COVID-19) patients. The company said that “severe COVID-19” is characterized by an “over-exuberant inflammatory response” that may lead to a cytokine storm and ultimately death. FSD Pharma is developing FSD-201 for its anti-inflammatory properties to avoid the cytokine storm associated with acute lung injury in hospitalized COVID-19 patients. The trial will be a randomized, controlled, double-blind, US multicenter study at 25 to 30 sites, to assess the effectiveness and safety of FSD-201 dosed at 600 mg or 1,200 mg twice-daily, together with standard of care (SOC), versus SOC alone in hospitalized patients with documented COVID-19.
NexTech AR Solutions Corp. () () (FSE:N29) revealed that its recently launched augmented reality solution for video ‘ScreenAR’ has generated over $100,000 in sales in its first month and is gaining great momentum. The firm, an emerging leader in augmented reality for eCommerce, AR learning applications, AR-enhanced video conferencing and virtual events, said ‘ScreenAR’ has been seamlessly integrated into the InfernoAR platform and uses the company's ARitize technology. In a statement, Evan Gappelberg, NexTech AR chief executive officer noted: “Due to the insatiable demand of InfernoAR, the surging demand for our AR products and continued growth in our AR eCommerce we are on target to have a record-breaking Q3.”
Corp () ended a busy second quarter with just over US$6.3 million in cash and saw the company make its debut on the TSX Venture Exchange. CEO Kyle Floyd deemed the quarter “tremendously successful” for the newly-listed royalty company as it acquired 27 royalties as part of a reverse takeover transaction and has added an additional five since its listing. A big move for the Toronto-based company was its acquisition of a proprietary royalty database from Mineral Royalties Online Pty Ltd, which includes over 7,000 global royalties, providing Vox with a first-mover advantage to execute non-brokered royalty deals.
Todos Medical Ltd (), a diagnostics company, announced Monday that it has entered into a sales agreement with a Wisconsin-based laboratory to supply it with the necessary coronavirus (COVID-19) polymerase chain reaction (PCR) testing equipment and supplies. Under the $23.76 million, initial eight-month contract, Todos said it will supply automated extraction machines, liquid handlers and PCR machines. The company also has been granted a priority right to supply the lab with up to 100,000 COVID PCR tests per day in the event the laboratory sees significant additional testing demand. Todos said its customer has inked an agreement with the state of Wisconsin to supply COVID-19 PCR tests.