Psychedelics Company Filament Signs Licensing Deal With Psyence In US, UK And EU

Filament Health Corp. FLHLF and Psyence Group Inc. PSYGF have inked a worldwide commercial licensing deal.

The agreement allows Psyence the right to commercialize a natural psilocybin compound within the context of palliative care.

Psyence CEO Neil Maresky said that the company is pleased to further develop its partnership with Filament, which he called a “leader in the development of natural psychedelic drug candidates.”

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“Our ability to deliver these much-needed substances to patients around the world is enhanced by Filament’s support,” Maresky said, referring to the clinical trials on palliative care Psyence is currently designing.

Palliative care is a “complex and under-examined area of study,” Filament CEO Benjamin Lightburn said. Psyence is leading the way “with their use of natural psilocybin to treat associated indications.” 

Lighburn praised the partnership and said Filament is looking forward to the advancement of its psilocybin compound, PEX010, in the palliative care field.

The licensing deal gives Psyence exclusivity in the U.K., U.S. and the European Union, and positions Filament as its exclusive drug products supplier within this field.

Filament expects milestone payments of up to $2.2 million over the course of Psyence's clinical development and marketing authorizations, as well as a percentage of future net sales in the low double digits.

Photo courtesy of Indypendenz and Dmytro Tyshchenko on Shutterstock.