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This Company is Paving the Way Naturally with Psychedelic Drug Development

·3 min read

Image provided by Filament Health

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

As the power of psychedelics in treating mental health conditions becomes more widely known and trusted, some companies are already ahead of the game with research and development (R&D) as well as intellectual property (IP) protection. Filament Health is among them.

Headquartered in Vancouver, Canada, Filament Health (NEO: FH) is an exclusively natural psychedelic drug discovery and extraction technology company. It works with psychedelic extracts from lab-grown and regeneratively harvested plants, including proprietary drug candidates that are soon scheduled to enter into FDA clinical trials.

The company holds the belief that measurable and efficacious natural psychedelic medicines will be a catalyst to addressing many of the world’s mental health problems. It seeks to investigate all naturally occurring psychedelic plant and fungi species to provide an optimal option for widespread adoption of these substances.

Filament is already proving itself to be a leader in the industry, having received the first patent issued for the extraction of natural psilocybin. The company also produced the first Good Manufacturing Process (GMP) batch of pharmaceutical-grade natural psilocybin as well as executed the first export of natural GMP psychedelics to the United States. None of this should come as a surprise because of its team’s expertise.

The Team

Filament Health is home to a well-seasoned team of experts in botanical extraction, intellectual property, biotech, pharma, commercialization and capital markets.

Prior to founding Filament, Ben Lightburn was the CEO of privately-held extraction technology company Mazza Innovation. Lightburn took Mazza from the pre-pilot stage to a full-scale 35,000 sq. ft. GMP facility, complete with IP protection. Lightburn led the company to a successful exit in 2018, and today the essential scientific and operational team from Mazza make up Filament Health.

The team has also made some strategic partnerships to assist with its vision.

Breaking Barriers with Licenses and Partnerships

Filament holds a leading natural psychedelics IP portfolio and runs an in-house GMP production facility. This is made possible because of its Health Canada Dealer’s License — Filament is one of the first companies in the world to obtain this license for all-natural psychedelic compounds.

More specifically, this license enables Filament to propagate psychedelic plants and fungi, conduct genetic research, perform extraction procedures, supply its own clinical trials and distribute IP and drug candidates.

Filament Health has recently partnered with University of California, San Francisco (UCSF) and its Translational Psychedelic Research (TrPR) Program to begin two investigator-initiated FDA clinical trials in 2021, led by the program’s Director, Dr. Joshua Woolley. This will include a Phase I study of a compound that has never before been administered in an FDA clinical trial.

Filament’s R&D includes all controlled natural psychedelics such as DMT, harmaline, mescaline and more. Its goal is to unlock the vast potential of dozens of psychoactive plant species, and the company is confident that its solid platform positions Filament to rapidly scale its drug discovery pipeline.

Coming to the States and Q2 Financial Highlights

On September 7, 2021, Filament Health announced that it received notification from the Financial Regulatory Authority (FINRA) that its shares are qualified to begin trading on the OTC Pink Market (the OTC) in the U.S. under the symbol FLHLF. The company has also submitted an application for uplisting shares to the OTCQB® Venture Market (OTCQB).

On August 17, 2021, Filament released its Q2 financials. The report highlighted the company’s well-capitalized position with cash and cash equivalents of $7.8 million as of June 30, 2021. It also noted the company’s closure on a $5 million private placement leading into its June 22, 2021 listing on Canada’s NEO Exchange.

Filament’s mission is to see safe, approved, natural psychedelics in the hands of everyone who needs them as soon as possible. Stay up to date and find out more at https://filament.health/.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.