• The CIHR is funding clinical trials through its Operating Grants for Psilocybin-assisted Psychotherapy for Mental Health and Substance Use Disorders

VANCOUVER, BC, July 6, 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 that it will supply psilocybin for two clinical trials which have received The Canadian Institutes of Health Research (CIHR) Operating Grants for Psilocybin-assisted Psychotherapy for Mental Health and Substance Use Disorders. The clinical trials will study the effects of Filament's botanical psilocybin drug candidate, PEX010, for alcohol use disorder and treatment resistant depression.

"As a leading producer of pharmaceutical-grade botanical psilocybin, we're proud to support this much-needed psychedelic research on our home soil," said Benjamin Lightburn, CEO and Co-Founder of Filament Health. "By making this donation, we hope to help Canadian researchers grow the evidence base for psilocybin-assisted psychotherapy."

In May 2022, the CIHR announced funding to support clinical trial research into the safety and early efficacy of using psilocybin, in combination with a psychotherapy, to treat substance use and mental health disorders. On June 29, 2023, the CIHR revealed that grants have been awarded to Dr. Leah Mayo of the University of Calgary to study alcohol use disorder, and Dr. Joshua Rosenblatt at the University Health Network to study treatment resistant depression.

"Alcohol use disorder (AUD) is a chronic and relapsing condition that causes significant interpersonal and societal burden, and has few effective treatments," said Dr. Mayo, Principal Investigator of the clinical trial at the University of Calgary and the Bloom Psychedelic Therapy and Research Institute. "New treatment options for AUD are urgently needed, and our trial design relies upon a supply of safe, high quality psilocybin so Filament Health's support is crucial to our success."

Filament Health is recognized for its significant support of global psychedelic research, having donated botanical psilocybin to 12 clinical trials in Canada, the United States, and Europe.

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.