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Pioneer in Botanical Psychedelics Drug Development

Leader in naturally derived psychedelics. Stewarded by a leadership team steeped in the expertise of botanical extraction, Filament Health Corp. listed on the CBOE:FH (formally NEO) and OTCQB:FLHLF, can count itself as the first and only company that has naturally derived psychedelics in clinical trials. A multibillion-dollar white space psychedelics opportunity beckons. Despite the long history and use of botanical psychedelics and documented evidence of their safety and efficacy, the psychedelics renaissance currently underway is being fueled almost exclusively by synthetics. Filament’s rare ability to navigate the complexities of natural psychedelics extraction and standardization through its unique intellectual property (IP)-protected technology platform creates a white space opportunity to tap into a much-needed psychedelic drug market opportunity, which some estimates indicate could be worth $12 billion by the end of the decade. Emphasis on burgeoning SUDs epidemic. Filament has sharpened the focus of its internal drug development program to address SUDs due to their large unmet need. As defined by the FDA Botanical Drug Guidance issued in 2016, documented use of botanical psychedelics means that PEX010, Filament’s lead psilocybin-based drug candidate, is well-positioned for fast-track clinical development. To that point, the FDA has approved PEX010 to go directly to a Phase IIa trial, which is expected to commence in 1Q24 to study its effect on MAUD. The company has also recently received authorization from Health Canada for a Phase II study of the drug for OUD. Filament plans to initiate a Phase IIa trial early next year. Strategic and financial benefits from a growing partnership network. Key to Filament’s growth strategy is its substantial and expanding partnership network. This includes the exclusive out-licensing of its drug technology to third-party psychedelic drug developers for use in clinical trials for indications outside of Filament’s core focus. This not only gives the company access rights to valuable safety data, but it also delivers pre-commercialization milestone-based revenue that can help partially fund its core activities. Commercialization licensing agreements offer considerable revenue upside potential in the longer term from royalties. Filament has also developed strategically invaluable collaborative ties with academic and philanthropic research organizations, giving it access to a substantial body of psychedelics research and data. Earlier pathway to profitability. Filament may have the opportunity to out-license some or all its internal developments at the late stage of the clinical trial process, which would bring forward revenue by several years and allay significant upfront costs. Our assumptions indicate that should the out-licensing option be taken for its two most advanced programs involving PEX010, Filament could generate positive EBITDA and EBIT in 2026 and 2027. SPAC merger transaction adds to financial optionality. As part of its financial strategy, Filament has agreed to merge with SPAC Jupiter Acquisition Corp. (NASDAQ:JAQC). This will result in an uplisting to the NASDAQ exchange through which it should gain greater exposure to a larger pool of institutional investors, allowing it greater access to the capital markets for funds. Furthermore, major board listed comps are substantially higher.