FILAMENT HEALTH ENTERS INTO EXCLUSIVE LICENSE AGREEMENT WITH UNIVERSITY OF ALABAMA AT BIRMINGHAM FOR DATA FROM A CLINICAL TRIAL OF PSILOCYBIN FOR THE TREATMENT OF COCAINE USE DISORDER

The data supports Filament's PEX010 drug development program targeting stimulant use disorders 

PEX010 is a first-in-class botanical psilocybin drug candidate currently under investigation in 52 clinical trials worldwide for 14 mental health indications

VANCOUVER, BC, June 17, 2025 /CNW/ - Filament Health Corp. (OTC: FLHLF) ("Filament" or the "Company"), a clinical–stage natural psychedelic drug development company, today announced that it has entered into an exclusive global license agreement with the University of Alabama at Birmingham (UAB) for intellectual property related to a recently completed Phase 2 placebo-controlled clinical trial of psilocybin as a treatment for cocaine use disorder (CUD). The study investigated the safety and efficacy of a single-dose of psilocybin compared to placebo comparator in 40 adult patients with severe CUD. The trial was led by Principal Investigator Peter Hendricks, Ph.D., University Professor and Heersink Endowed Chair of Psychiatry at the UAB Department of Psychiatry and Behavioral Neurobiology, and a globally recognized expert in psychedelic-assisted therapies for addiction.

"The results of the study demonstrated that psilocybin was well-tolerated and that a single dose resulted in a significant and durable reduction in cocaine use among people with CUD who were representative of cocaine users from the Deep South region of the United States. This is notable as most psychedelic trials fail to recruit participants representative of the population of those who could benefit from care.," said Dr. Hendricks. "We expect to have our data published in a peer-reviewed journal later this year and are excited to contribute to the science and possibly help bring to the clinic a promising treatment for cocaine and other stimulant use disorders in the future."

Filament has obtained rights to access and use the data, know-how, and associated intellectual property from the clinical study, in furtherance of the Company's own proprietary development programs in stimulant use disorders. The partnership will also enable Dr. Hendricks to serve as an advisor to Filament Health and to advance research into other substance use conditions.

"This agreement marks an important step in our mission to advance PEX010 and our other programs for the treatment of patients with stimulant use disorders," said Benjamin Lightburn, Co-Founder and Chief Executive Officer of Filament. "We are a leading developer of psychedelic drug candidates for substance use disorders and other mental health conditions. The positive data from Dr. Hendricks' trial, as well as his knowledge of clinical practices and ongoing counsel, will be significant assets in facilitating the advancement of our research."

ABOUT FILAMENT HEALTH (OTC:FLHLF)
Filament Health is a clinical-stage natural psychedelic drug development company. We believe that safe, standardized, naturally-derived psychedelic medicines can improve the lives of many, and our mission is to see them in the hands of everyone who needs them as soon as possible. Filament's platform of proprietary intellectual property enables the discovery, development, and delivery of natural psychedelic medicines for clinical development. We are paving the way with the first-ever natural psychedelic drug candidates.

Learn more at www.filament.health and on Twitter, Instagram, and LinkedIn.

FORWARD LOOKING INFORMATION
Certain statements and information contained in this press release and the documents referred to 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. 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 the timing and results of clinical trials, the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory, court and shareholders approvals; the ability of the parties to satisfy, in a timely manner, the other conditions to the completion of the proposed business combination; other expectations and assumptions concerning the transactions contemplated in the proposed business combination; the available funds of the parties and the anticipated use of such funds; the availability of financing opportunities; legal and regulatory risks inherent in the psychedelic drug development industry; risks associated with economic conditions, dependence on management and currency risk; risks relating to U.S. regulatory landscape; risks relating to anti-money laundering laws and regulation; other governmental and environmental regulation; public opinion and perception of the psychedelic drug development industry; risks related to the economy generally; risk of litigation; conflicts of interest; risks relating to certain remedies being limited and the difficulty of enforcement of judgments and effect service outside of Canada; and risks related to future acquisitions or dispositions. 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 Health Corp.