Psyence Group provides update on Filament Health commercial licensing agreement

As previously disclosed, Psyence Group and Filament Health (FLHLF) concluded an IP licensing agreement, relating to the supply and licensing of PEX010 by Filament in connection with phase II clinical trials evaluating nature derived psilocybin as a potential treatment for Adjustment Disorder within the context of palliative care. All right, title and interest in and to the R&D Licensing Agreement and the license contemplated therein has been assigned from Psyence Group to Psyence Biomed (PBM) so that Psyence Biomed may pursue the execution of its upcoming Phase IIb clinical trial. As further previously disclosed, Psyence Group and Filament Health Corp. also concluded a binding term sheet, relating to the commercial licensing of PEX010, which remained subject to the terms of a definitive agreement. Following further discussions, the parties have mutually agreed to terminate the Commercial Term Sheet. Filament will continue to support the supply of PEX010 for Psyence Biomed’s upcoming Phase IIb trial while Psyence Biomed is evaluating two exclusive supply and license agreements with duly licensed suppliers operating in the United Kingdom and North America.