Filament's patent describes the extraction of stable, standardized doses of psychoactive compounds at its Health Canada-licensed, GMP-certified facility

VANCOUVER, BC, Aug. 3, 2021 /CNW/ - Filament Health Corp. (NEO: FH) ("Filament" or the "Company"), a leading exclusively-natural psychedelic drug development company, today announced that it is the first public company to be issued a patent by the Canadian Intellectual Property Office for the extraction and standardization of natural psilocybin and associated psychoactive compounds. The patent describes essential technology for transforming variable psychedelic raw materials into pharmaceutical-grade standardized extracts.

This successful issuance validates Filament's intellectual property strategy and sets the Company in good stead for allowances of pending patents covering additional elements of its proprietary technologies.

"We are proud to lead the industry with this first issued natural extraction patent. This approval represents important progress in the development of our intellectual property," said Benjamin Lightburn, Chief Executive Officer. "At Filament Health, we know that nature is a valuable source of medicine, but that certain technologies are necessary to bring natural products up to a pharmaceutical grade—most importantly, through standardization."

Filament has developed innovative technology to extract and standardize a stable dose of natural psilocybin in order to overcome crop-to-crop and flush-to-flush variability. Previous methods of natural extraction have experienced challenges relating to poor yields, stability, and repeatability. As a result, synthetic preparations of psilocybin have become the industry standard. Leveraging decades of natural extraction expertise, Filament has overcome these issues to produce a superior product at a lower cost.

"This achievement affirms Filament's talent for innovation and demonstrates that we recognize the importance of protecting shareholder value," said Taran Grey, Director of Intellectual Property (IP). "The concern that a third party could irreparably interfere with our operations by asserting IP against us is no longer the same threat as it is for others."

The issuance of Filament's patent comes soon after the Company was granted an amendment to its Health Canada Dealer's License on July 28, 2021, which allows for broad operations with all controlled natural psychedelic substances.