The patent describes the extraction and standardization of stable doses of psychedelic compounds and strengthens Filament's industry-leading IP portfolio
VANCOUVER, BC, Aug. 17, 2022 /CNW/ - Filament Health Corp. (OTCQB: FLHLF) (NEO: FH) (FSE: 7QS) ("Filament" or the "Company"), a clinical-stage natural psychedelic drug development company, today announced that it has been issued an eighth patent for the extraction and standardization of natural psilocybin and associated psychedelic compounds. Filament's latest patent was issued by the Canadian Intellectual Property Office (CIPO) and describes technology for transforming variable psychedelic raw materials into pharmaceutical-grade, standardized drug candidates.
"Filament's 100% pending application to issued patent success rate demonstrates our team's talent given that the industry average is less than 50%," said Taran Grey, Director of Intellectual Property. "Before Filament, shelf stable psilocin was seen as an impossibility. We have created psilocin as a revenue generating reality, and we continue to lock down the intellectual property to produce it. From multi-solvent extraction to purification to controlled dephosphorylation to standardization and delivery methods, I am deeply proud of our research department's work product; IP and otherwise."
Filament has developed innovative technology to extract and standardize stable doses of natural compounds from magic mushrooms. On August 3, 2021, Filament was issued the first-ever patent for the extraction and standardization of natural psilocybin. Since then, the Company has been issued a further four patents by CIPO and three by the United States Patent and Trademark Office.
ABOUT FILAMENT HEALTH (OTCQB: FLHLF) (NEO: FH) (FSE: 7QS)
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. 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 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. The forward-looking statements discussed in this press release may include, but are not limited to, information concerning the impact of the patent on the Company's business and the ability of the Company to secure future patents. 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 status of patent applications and the ability to secure patents. 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.