Filament Announces First GMP Batch of Pharmaceutical Grade Natural Psilocybin

VANCOUVER, BC, June 11, 2021 /CNW/ - Filament Ventures Corp., doing business as Filament Health ("Filament" or the "Company"), an exclusively-natural psychedelic drug discovery and extraction technology company, today announced it has completed its first Good Manufacturing Practice ("GMP") batch of pharmaceutical-grade natural psilocybin extract. Filament's GMP extracts are set to be administered in clinical trials in collaboration with the Translational Psychedelic Research Program ("TrPR")  at the University of California, San Francisco ("UCSF"). To date, no FDA-approved clinical trial has been conducted using natural psilocybin.

"Our team has established the technologies necessary to produce stabilized pharmaceutical-grade extracts from natural psychedelic species. These technologies are the subjects of our five patent application families," said Filament's CEO, Benjamin Lightburn.  "All of this has been completed in our facility which has both a Health Canada Dealer's License and GMP production, setting us ahead of many industry participants."

Filament's industry-leading facility positions the Company well to explore additional psychoactive compounds with several already under investigation. Filament has submitted an application for amendment to its Health Canada Dealer's License to include all controlled natural psychedelic substances, including N,N-dimethyltryptamine ("DMT"), mescaline, and others. Filament has additionally developed extracts of several non-controlled psychoactive alkaloids.

"It is very possible that the best psychedelic therapeutic is yet to be identified, either as a standalone compound or as a naturally-occurring combination" said Ryan Moss, Director of Research at Filament. "We believe that looking to the natural world provides the best avenue to identify potential candidates and, using our suite of patent-pending technologies, transform them into pharmaceutical-grade formulations for clinical study."

Filament has already identified one such compound which may provide therapeutic advantages compared to psilocybin, evidence of which will be sought in an upcoming phase 1  trial at UCSF.

ABOUT FILAMENT HEALTH

Filament is an exclusively-natural psychedelic drug discovery and extraction technology company. Its mission is to see safe, approved, natural psychedelics in the hands of everyone who needs them as soon as possible. Filament believes measurable and efficacious medicines will be a catalyst to addressing many of the world's mental health problems and that natural psychedelics provide an optimal option for widespread adoption of these substances. Filament engages in natural extraction technology and commercialization, utilizing its intellectual property portfolio, in-house good manufacturing practices and a Health Canada psilocybin Dealer's License. Filament is headquartered in Vancouver, British Columbia.

Learn more at www.filament.health and get the latest updates via Filament's newsletter and  LinkedIn page.

FORWARD LOOKING INFORMATION

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. The forward-looking statements discussed in this press release may include, but are not limited to, information concerning Filament's and TrPR's ability to conduct clinical trials; Filament's ability to identify potential psychedelic therapeutic candidates; the nature, timing, and possible success of research and clinical programs now underway or planned; and the likelihood, timing, and scope of possible regulatory approval of the amended Health Canada Dealer's License. . 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 capital expenditures and other costs. 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.

SOURCE Filament Ventures Corp.

MEDIA CONTACT: Anna Cordon, Director of Communications, 778.245.9067, [email protected]