Ensysce Biosciences Inc., a clinical stage pharmaceutical company developing medicines for severe pain relief to reduce fear of addiction, opioid misuse, abuse and overdose, and Leisure Acquisition Corp. (NASDAQ: LACQ) announced the appointment of David Humphrey to Ensysce's management team as its Chief Financial Officer.
Mr. Humphrey brings over 20 years of experience with development-stage companies as they progress toward product commercialization. Prior to joining Ensysce, Mr. Humphrey was Chief Financial Officer of Senomyx, Inc., a publicly-held biotechnology company which he led through an acquisition by Firmenich SA, a private Swiss multinational flavor and fragrance company. As part of his responsibilities, he will oversee financial strategy and business expansion at Ensysce, in addition to assisting with Ensysce's proposed business combination with LACQ.
"Ensysce is on a mission to develop innovative technologies that seek to combat drug abuse and overdose, primarily with respect to opioids, and to address the political and regulatory demands for new answers for analgesia. Opioid products continue to be necessary for many patients to lead normal lives including those with cancer pain, crippling arthritis and chronic back pain, as well as following certain surgeries. Ensysce, through its technologies, seeks to provide an option for both patients and prescribers that can reduce fear of addiction, stop abuse and stem overdose from these prescription products. Dave joins as we move to the next level of clinical activity to push our product through towards commercialization," said Dr. Lynn Kirkpatrick, CEO of Ensysce. "Our proprietary TAAPTM oral pro-drug technology and MPARTM overdose protection, both unique to the industry, have demonstrated clinical results in their respective stages of clinical development that we expect will hold a prominent place in responsible prescribing of analgesics. We look forward to progressing these through clinical development so the public can benefit from these safer alternatives."
Dr. Kirkpatrick continued, "In addition, we continue to search for ways to expand the potential uses for certain of our technologies. For example, we remain optimistic regarding the potential application of nafamostat as a treatment for COVID-19. In December 2020, we completed our Phase 1 safety study with oral nafamostat and intend to enter a Phase 2 efficacy study in COVID-19 subjects in the coming months. We expect that David's experience will be invaluable as we work to secure funding to progress this effort and other similar efforts that may arise."
"I look forward to working with the Ensysce team as we seek to bring solutions to our healthcare system." said Mr. Humphrey. "My near-term focus will be to work with Lynn to provide business solutions within the organization to support our ongoing clinical trials. I am especially encouraged by the Fast-Track designation, and the recent grant awards from the National Institutes of Health through the National Institute on Drug Abuse that are supporting our overdose (MPARTM ) and opioid use disorder technology development. Both of these show the importance placed on our work by government agencies. I am also looking forward to working with LACQ on the proposed business combination as we seek to accelerate our strategic plan to deliver our technology and products to the medical community and value to our shareholders as a publicly-held company."
About Ensysce Biosciences, Inc.
Ensysce's TAAP™ chemical modifications overcome abuse, especially for the highly abused opioid and ADHD prescription drugs. As the use of opioids have risen sharply over the last two decades, rates of addiction and overdose deaths have dramatically increased. Drug overdose deaths are now the leading cause of accidental death in the U.S. Abuse Deterrent Formulation (ADF) and modifications of opioids have not stemmed this epidemic. Ensysce's Trypsin Activated Abuse Protection (TAAP™) and Multi-Pill Abuse Resistance (MPAR™) products are anticipated to provide safe options to treat pain and provide a promise of halting opioid deaths. Ensysce's TAAP™/MPAR™ platforms are covered by an extensive worldwide intellectual property portfolio for a wide array of prescription drug prodrug compositions. Additional information can be found at www.ensysce.com.
About Leisure Acquisition Corp.
LACQ is a blank check company formed for the purpose of effecting a merger or other business combination with a target company. Leisure is led by Lorne Weil and Daniel Silvers and completed its Initial Public Offering in December 2017. Leisure is listed on the Nasdaq Capital Market (NASDAQ: LACQ).
Additional information can be found at www.leisureacq.com.
