• The clinical trial will study PEX010, Filament's botanical psilocybin drug candidate

VANCOUVER, BC, March 15, 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 approval from the United States Food and Drug Administration (FDA) for a clinical trial at the University of California San Francisco's Translational Psychedelic Research Program (TrPR). The investigator initiated trial will study the effects of PEX010, Filament's botanical psilocybin drug candidate, for the treatment of methamphetamine use disorder (MAUD).

MAUD is a growing public health emergency that is associated with serious health consequences. In the United States, the prevalence and mortality of MAUD has doubled over the past decade, yet available treatments have limited efficacy. Psilocybin offers a possible breakthrough – a single dose has been found to dramatically increase abstinence and reduce consumption in individuals with substance use disorders. The goal of this trial will be to determine the safety, tolerability, and feasibility of psilocybin therapy for people living with MAUD.

"We're pleased to support this much-needed research," said Benjamin Lightburn, Chief Executive Officer and Co-Founder of Filament Health. "This trial is the first time that naturally-derived, non-synthetic psilocybin will be studied for methamphetamine use disorder, and represents an important step for Filament into the treatment of substance use disorders."

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 for clinical development. We are paving the way with the first-ever natural psychedelic drug candidates.

Learn more at www.filament.healthand on Twitter, Instagram, and LinkedIn.

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. 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 status of patent applications and the ability to secure patents. 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.