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) (“Psyence”), a life science biotechnology company pioneering the use of natural psilocybin in mental health and well-being, today announced the conclusion of an exclusive licensing agreement with Psyence. Under the terms of the agreement, Filament will license its proprietary botanical drug candidate PEX010 (25mg) and the associated IP to Psyence for use in Psyence’s upcoming clinical trials. PEX010 (25mg) is standardized to provide 25 mg of psilocybin per oral capsule and has previously received authorization from the FDA and Health Canada to enter into phase 1 and phase 2 human clinical trials.

Psyence is designing market-leading clinical trials in the field of palliative care, which will initially be conducted in the United Kingdom. The license grants Psyence exclusivity in the United Kingdom for the indications of anxiety and depression, and associated ailments, within the context of palliative care. Psyence intends to submit a clinical trial application (CTA) to the Medicines and Healthcare products Regulatory Agency (MHRA) in the United Kingdom.

“Filament is a global leader in the extraction and standardization of pharmaceutical-grade psychedelic botanical drug candidates,” “Partnering with Filament is a perfect complement to our expertise in both the cultivation and delivery of these substances to patients in need as we commence our palliative care clinical trial. Licensing Filament’s IP and leveraging their data and experience will allow us to expedite our UK clinical trial application.”

Dr. Neil Maresky, Chief Executive Officer of Psyence

In addition, Psyence is preparing to export its mushrooms to Filament. Filament will process the raw material and manufacture a dosage form for use in future clinical trials. Psyence’s psilocybin mushrooms are cultivated at its licensed ISO22000 certified production facility in Southern Africa.

“Psyence is pioneering the use of natural psilocybin in the context of palliative care,” said Benjamin Lightburn, Chief Executive Officer of Filament. “We are thrilled to partner with them and are extremely pleased to see advancement of our drug candidate addressing this important area of unmet need.”

Psyence joins a growing list of Filament technology licensing partners using PEX010 to advance their clinical trial programs. Filament’s partners are focused on 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.

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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.