• Reset Pharma has licensed Filament's botanical psilocybin drug candidate for a phase 2 clinical trial studying demoralization syndrome

VANCOUVER, BC, Aug. 31, 2023 /CNW/ - Filament Health Corp. (OTCQB: FLHLF) (NEO: FH) (FSE: 7QS) ("Filament" or "Filament Health"), a clinical-stage natural psychedelic drug development company, today announced that it has entered into a licensing agreement with Reset Pharmaceuticals Inc. ("Reset Pharma"), a privately held biotechnology company focused on the development of innovative treatments to address mental health indications related to life-altering diseases. Under the terms of the agreement, Filament will license its proprietary botanical psilocybin drug candidate, PEX010, and associated intellectual property, to Reset Pharma for a phase 2 clinical trial for the treatment of demoralization syndrome. PEX010 is formulated as a capsule for oral administration, and is currently being administered in multiple US Food and Drug Administration- and Health Canada-approved phase 1 and phase 2 human clinical trials.

"Clinical trial data indicates that psilocybin may be effective in treating demoralization syndrome, so we are pleased to partner with Filament, a leader in the development of pharmaceutical-grade botanical psilocybin, to advance our clinical trial," said Jan-Anders Karlsson, Co-Founder and Interim Chief Executive Officer of Reset Pharma.

"Reset Pharma's lead program focuses on developing a psilocybin-related product to treat demoralization syndrome in patients with cancer. We believe that these patients have significant levels of demoralization with a perceived lack of control, hopelessness and helplessness, an increased risk of suicide, and currently have no effective treatment options."

The licensing agreement with Filament grants Reset Pharma use of PEX010 for a phase 2 FDA clinical trial.

"We believe that demoralization syndrome is a complex and under-examined area of study," said Benjamin Lightburn, Chief Executive Officer of Filament. "We are thrilled to develop a partnership with Reset Pharma and look forward to the advancement of our drug candidate in this important field."

Reset Pharma 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.

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 what we believe to be the first-ever natural psychedelic drug candidates.

Learn more atwww.filament.health and onTwitter, Instagram andLinkedIn.

FORWARD LOOKING INFORMATION

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