FILAMENT HEALTH IS ISSUED SECOND PATENT BY UNITED STATES PATENT AND TRADEMARK OFFICE AND REPORTS Q1 RESULTS & More News Here

The patent describes the extraction and standardization of secure doses of psychedelic compounds

The Company additionally studies first quarter 2022 monetary outcomes and operational highlights

VANCOUVER, BC, May 17, 2022 /CNW/ – Filament Health Corp. (OTCQB: FLHLF) (NEO: FH) (FSE: 7QS) (“Filament” or the “Company”), a clinical-stage pure psychedelic drug improvement firm, right now introduced that it has been issued a second patent by the United States Patent and Trademark Office (USPTO) for the extraction and standardization of pure psilocybin and related psychedelic compounds. The patent describes important know-how for remodeling variable psychedelic uncooked supplies into pharmaceutical-grade, standardized drug candidates.

“The issuance of Filament’s first US patent is a testament to the strength of our drug development platform,” mentioned Benjamin Lightburn, Chief Executive Officer. “This approval represents important progress for our intellectual property portfolio.”

Filament has developed progressive know-how to extract and standardize secure doses of pure compounds from magic mushrooms. The Company at the moment holds 5 patents, together with the first-ever patent for the extraction and standardization of pure psilocybin, which was issued on August 3, 2021.

First Quarter Financial Results and Operational Highlights

Filament launched its first quarter monetary outcomes and operational highlights for the interval ended March 31, 2022. Financial outcomes and operational highlights from the Company’s first quarter of 2022 and subsequent interval embrace:

• Cash and money equivalents of over $3.6 million;
• Issued patents by the Canadian Intellectual Property Office and the United States Patent and Trademark Office patents for the extraction and standardization of pure psilocybin;
• Held a pre-investigational new drug software assembly with the United States Food and Drug Administration discussing Filament’s pure psychedelic drug candidates, drug improvement technique and long-term plans;
• Entered right into a licensing settlement with Cybin Therapeutics to license and supply Filament’s proprietary botanical drug candidate, PEX010 (25mg), for 2 Phase II medical trials with, certainly one of which has acquired Health Canada authorization;
• Entered right into a licensing settlement with ATMA Journey Centers to supply PEX010 (25mg) to be used in a Phase I security trial, for which ATMA has acquired Health Canada authorization;
• Entered right into a licensing settlement with Psyence Group Inc. to supply PEX010 (25mg) and the related mental property to be used in Psyence’s upcoming medical trials within the United Kingdom.

ABOUT FILAMENT HEALTH (OTCQB:FLHLF) (NEO:FH) (FSE:7QS)

Filament Health is a clinical-stage pure psychedelic drug improvement firm. We consider that protected, standardized, naturally-derived psychedelic medicines can enhance the lives of many, and our mission is to see them within the fingers of everybody who wants them as quickly as attainable. Filament’s platform of proprietary mental property permits the invention, improvement, and supply of pure psychedelic medicines for medical improvement. We are paving the way in which with the first-ever pure psychedelic drug candidates.

Learn extra at www.filament.well being and on Twitter, Instagram and LinkedIn.

FORWARD LOOKING INFORMATION

Certain statements and data contained herein might represent “forward-looking statements” and “forward-looking information,” respectively, underneath Canadian securities laws. Generally, forward-looking data might be recognized by way of forward-looking terminology reminiscent of, “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “should”, “believe”, “intends”, “forecast”, “plans”, “guidance” and related expressions are supposed to determine forward-looking statements or data. The forward-looking statements are usually not historic information, however mirror the present expectations of administration of Filament concerning future outcomes or occasions and are primarily based on data at the moment accessible to them. Certain materials components and assumptions have been utilized in offering these forward-looking statements. The forward-looking statements mentioned on this press launch might embrace, however are usually not restricted to, data in regards to the impression of the patent on the Company’s enterprise and the power of the Company to safe future patents. Forward-looking statements concerning the Company are primarily based on the Company’s estimates and are topic to identified and unknown dangers, uncertainties and different components that will trigger the precise outcomes, ranges of exercise, efficiency or achievements of Filament to be materially totally different from these expressed or implied by such forward-looking statements or forward-looking data, together with standing of patent functions and the power to safe patents. There might be no assurance that such statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, readers shouldn’t place undue reliance on forward-looking statements and forward-looking data. Filament is not going to replace any forward-looking statements or forward-looking data which are integrated by reference herein, besides as required by relevant securities legal guidelines.

SOURCE Filament Health Corp.

For additional data: MEDIA RELATIONS: Anna Cordon, Director of Communications, 778.245.9067, [email protected]; INVESTOR RELATIONS: KCSA Strategic Communications, Adam Holdsworth, 347.487.6788, [email protected]

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