Filament Health Corp. (OTCQB: FLHLF | NEO: FH | FSE: 7QS), a clinical-stage natural psychedelic drug development company, and Psyence Group Inc (CSE:PSYG | OTCQB: PSYGF), a life science biotechnology company pioneering the use of natural psilocybin in mental health and well-being, today announced the conclusion of a royalty-bearing, worldwide commercial licensing agreement. The agreement grants Psyence the worldwide right to commercialize Filament’s natural psilocybin drug candidate, PEX010 (25 mg), within the context of palliative care.
Dr. Neil Maresky, Chief Executive Officer of Psyence
“We are pleased to further develop our partnership with Filament Health, a leader in the development of natural psychedelic drug candidates. Our ability to deliver these much-needed substances to patients around the world is enhanced by Filament’s support.”
Psyence is designing market-leading clinical trials in the field of palliative care. The licensing agreement with Filament grants Psyence exclusivity in the United Kingdom, the United States, and the European Union within palliative care, and designates Filament as Psyence’s exclusive supplier of drug products within this context. Filament will receive milestone payments of up to $3 million over the course of Psyence’s clinical development and marketing authorizations achieved by Psyence, as well as a percentage of future net sales in the low double digits.
“Palliative care is a complex and under-examined area of study, and Psyence is leading the way with their use of natural psilocybin to treat associated indications,” said Benjamin Lightburn, Chief Executive Officer of Filament. “We are thrilled to expand our partnership with Psyence and look forward to the advancement of our drug candidate in this important field.”
Filament’s growing technology licensing network now consists of partners using PEX010 to study indications including opioid tapering, palliative care, and alcohol use disorder.
ABOUT FILAMENT HEALTH
Filament Health is a clinical-stage natural psychedelic drug development company. We believe that safe, standardized, naturally-derived psychedelic medicines can improve the lives of many, and our mission is to see them in the hands of everyone who needs them as soon as possible. Filament’s platform of proprietary intellectual property enables the discovery, development, and delivery of natural psychedelic medicines. We are paving the way with the first-ever natural psychedelic drug candidates.
ABOUT PSYENCE GROUP
Psyence is a life science biotechnology company listed on the Canadian Securities Exchange (CSE: PSYG) and quoted on the OTCQB (OTCQB: PSYGF), with a focus on natural psychedelics. Psyence works with natural psilocybin products for the healing of psychological trauma and its mental health consequences in the context of palliative care. Our name “Psyence” combines the words psychedelic and science to affirm our commitment to producing psychedelic medicines developed through evidence-based research. Informed by nature and guided by science, we built and operate one of the world’s first federally licensed commercial psilocybin mushroom cultivation and production facilities in Southern Africa. Our team brings international experience in both business and science and includes experts in mycology, neurology, palliative care, and drug development. We work to develop advanced natural psilocybin products for clinical research and development. Our key divisions, Psyence Production, Psyence Therapeutics and Psyence Function, anchor an international collaboration, with operations in Canada, the United Kingdom, Southern Africa, and a presence in the United States and Australia.