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December 07, 2022

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Filament Health (FH.NEO) taps Optimi Health (OPTI.C) for mushroom supply

Filament Health (FH.NEO) taps Optimi Health (OPTI.C) for mushroom supply

Filament Health (FH.E) inked a supply deal with Optimi Health (OPTI.C) for psilocybin mushrooms for testing and analysis by Filament’s research team.

These mushrooms come at the behest of Optimi’s recently completed 20,000 square foot European Good Manufacturing Practice (EU-GMP) certified growing facility located in Princeton, British Columbia.

“Our supply agreement with Filament Health is an excellent fit for both parties. Filament’s commitment to the development of unique intellectual properties using natural psychedelic medicines, and to the advancement of natural psilocybin in the space as a whole, are well aligned with our own values and goals for the future of psychedelics,” said Bill Ciprick, CEO of Optimi.

The deal makes perfect sense.

Filament Health is a psychedelic drug development company with a strong intellectual property portfolio for drug discovery, development and delivery of psychedelic medicines for clinical development. Optimi provides EU-GMP grade psilocybin and functional mushrooms. They’re purpose-built to produce scalable, natural mushroom formulations. At present, their goal is to be a globally trusted, compassionate supplier of safe and natural GMP-grade psilocybin.

Filament highlights at a glance:

  • Cash and cash equivalents of over $3.6-million;
  • Issued patents by the Canadian Intellectual Property Office and the United States Patent and Trademark Office patents for the extraction and standardization of natural psilocybin;
  • Held a preinvestigational new drug application meeting with the United States Food and Drug Administration discussing Filament’s natural psychedelic drug candidates, drug development strategy and long-term plans;
  • Entered into a licensing agreement with Cybin Therapeutics to license and provide Filament’s proprietary botanical drug candidate, PEX010 (25 milligrams), for two phase II clinical trials with, one of which has received Health Canada authorization;
  • Entered into a licensing agreement with ATMA Journey Centers to provide PEX010 (25 mg) for use in a phase I safety trial, for which ATMA has received Health Canada authorization;
  • Entered into a licensing agreement with Psyence Group Inc. to provide PEX010 (25 mg) and the associated intellectual property for use in Psyence’s upcoming clinical trials in the United Kingdom.

Both companies have agreed to a one-year term, which would allow Filament to place orders for whole, dried fruiting body mushrooms.

“We are pleased to partner with Optimi as we build out our own supply chain and explore external suppliers. This is an important step for Filament, and we look forward to determining the compatibility of Optimi’s product with our industry-leading natural extraction technology,” said Benjamin Lightburn, Filament Health’s CEO.

At least for right now psilocybin is the most actively studied psychedelic in clinical trials across the world, and both companies think this agreement communicates that safety and research are not only necessary, but imperative, to growing a safe and secure supply for natural psilocybin.

—Joseph Morton

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