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Benzinga
Benzinga
Business
Fermin Orgambide

Psyence, Filament Strike Magic Mushroom Product Licensing Agreement: What You Need To Know

OTCQB

Psyence Group (OTCQB:PSYGF) and Filament Health Corp. (OTCQB:FLHLF) announced the signing of a licensing agreement: Filament is to license its proprietary psilocybin derived drug, PEX010, and the associated IP to Psyence for use in its upcoming clinical trials.

Thanks to this license, Psyence will have exclusivity for the drug in the United Kingdom for studying its effects on anxiety and depression and associated ailments within the context of palliative care.

Psyence will provide the mushrooms, while Filament will process the raw material and manufacture a dosage form for use in future clinical trials.

Earlier this year, Filament signed a licensing agreement for PEX010 with private therapeutic bioscience company Cybin Therapeutics.

At the moment, Filament's proprietary drug has received authorization from the FDA and Health Canada to enter into Phase 1 and Phase 2 clinical trials.

Photo: Courtesy of Marco Allegretti on Unsplash.

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