NeoLumina's license for Filament's botanical psilocybin drug candidate provides exclusive global right to clinical and commercial development for eating disorders
VANCOUVER, BC, June 30, 2023 /CNW/ - Filament Health Corp. (OTCQB: FLHLF) (NEO: FH) (FSE: 7QS) ("Filament" or the "Company"), a clinical-stage natural psychedelic drug development company, today announced an exclusive global licensing agreement with NeoLumina Bioscience Inc. ("NeoLumina"), a company focused on the development and commercialization of novel therapeutics inspired by psychedelics. Under the terms of the agreement, Filament will license its proprietary botanical psilocybin drug candidate, PEX010, and associated intellectual property, to NeoLumina for clinical and commercial development related to eating disorders. PEX010 is formulated as an oral capsule, and has both US Food and Drug Administration and Health Canada authorization to enter into phase 1 and phase 2 human clinical trials.
"Nearly 10 percent of the global population suffers from an eating disorder and there are no approved drugs for most types," said Gaetano Morello, ND, Chief Executive Officer of NeoLumina. "With current evidence indicating that psychedelics can be effective in mental health conditions with unmet medical needs, including eating disorders, we are pleased to partner with Filament, a leader in the development of pharmaceutical-grade botanical psychedelic drug candidates, to advance our clinical and commercial aspirations."
NeoLumina is a life sciences company that aims to develop better first-line therapeutic candidates for mental health conditions that are based on psychedelic molecules. The licensing agreement with Filament grants NeoLumina global exclusive use of PEX010 for eating disorders and designates Filament as NeoLumina's supplier of PEX010 within this context. Filament will receive milestone payments of up to seven figures over the course of NeoLumina's clinical development and marketing authorizations, as well as future commercial royalties up to a low double-digit percentage of net sales.
"NeoLumina is pioneering the use of psychedelics for use in a variety of mental health disorders," said Benjamin Lightburn, Chief Executive Officer of Filament. "We are proud to partner with them and to see advancement of our drug candidate addressing this important area of unmet need for eating disorders."
NeoLumina joins a growing list of Filament 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 (OTCQB:FLHLF) (NEO:FH) (FSE:7QS)
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.
Learn more atwww.filament.health and onTwitter, Instagram andLinkedIn.
FORWARD LOOKING INFORMATION
Certain statements and information contained herein may constitute "forward-looking statements" and "forward-looking information," respectively, under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "expect", "anticipate", "continue", "estimate", "may", "will", "should", "believe", "intends", "forecast", "plans", "guidance" and similar expressions are intended to identify forward-looking statements or information. Forward-looking statements herein include, but are not limited to, statements regarding the benefits of psilocin as compared to psilocybin. The forward-looking statements are not historical facts, but reflect the current expectations of management of Filament regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. Forward-looking statements regarding the Company are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Filament to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including results of the clinical trial. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Filament will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE Filament Health Corp.
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