Clinical-stage natural psychedelic drug development company supporting treatment of mental health conditions Filament Health Corp. (NEO: FH) (OTCQB: FHLLF) announced having entered into a licensing agreement with Cybin Therapeutics (CT).
Cybin Therapeutics is a private biotechnology company specializing in advancing psychedelic pharmaceutical treatments for various mental health conditions and neurological conditions.
According to the agreement, Filament Health will license PEX010, its botanical psilocybin drug candidate to Cybin Therapeutics for two upcoming phase 2 clinical trials addressing the alcohol use disorder and depression.
The agreement also covers other two clinical trials slated for this year. Both companies failed to disclose the financial terms of the agreement.
“This agreement with Cybin Therapeutics demonstrates Filament’s ability to license our technology and facilitate our partners’ trials. Our mission is to support the treatment of mental health conditions through the discovery and delivery of exclusively-natural psychedelic medicines, and we are proud to aid CT’s efforts. We view this as the first of many agreements in a long partnership,” said the CEO of Filament Health, Benjamin Lightburn.
Cybin Therapeutics filed Clinical Trial Application (CAT) with health Canada a while back for its first trial last year. The company is also looking forward to begin its depression study this year.
“We are excited to advance our mission of creating psilocybin-based therapies for a number of treatment areas. Filament’s unique, all-natural drug candidates combined with our experienced team, we believe, create an ideal environment for creating research-based protocols, formulations, and outcomes for healing,” said CT’s founder, Josh Taylor.