Quantum BioPharma Ltd., a biopharmaceutical company focused on neurodegenerative and metabolic disorder treatments, has finalized a $2.35 million settlement with its former Executive Chairman and CEO Dr. Raza Bokhari, effectively resolving all outstanding legal disputes stemming from a 2021 proxy contest. The global settlement agreement, signed by Co-Chairmen Zeeshan Saeed and Anthony Durkacz, conclusively addresses legal proceedings in both the United States and Canada. Both parties explicitly denied any wrongdoing, asserting that their actions were consistently aligned with the company's best interests.
The settlement introduces non-dilutive capital into Quantum BioPharma's financial structure and includes provisions barring future litigation between Bokhari and the company. This resolution marks a significant milestone in the organization's corporate governance and strategic direction. The agreement demonstrates the company's commitment to resolving internal challenges efficiently and maintaining a forward-looking approach to its pharmaceutical development initiatives. The settlement provides financial certainty and allows management to concentrate fully on advancing the company's therapeutic pipeline without the distraction of ongoing legal proceedings.
Quantum BioPharma continues to advance its portfolio of innovative biotech solutions, with a particular focus on its lead compound Lucid-MS, a patented chemical entity designed to prevent and reverse myelin degradation in preclinical multiple sclerosis models. The company also maintains strategic investments through its subsidiary, FSD Strategic Investments Inc., and retains a 25.71% ownership stake in Celly Nutrition Corp., which markets the UNBUZZD™ product. This settlement resolution strengthens the company's position to continue developing treatments for neurodegenerative conditions while maintaining its strategic investment portfolio.
