Filament Health Corp. and Psyence Group Inc. announced the conclusion of a royalty bearing, worldwide commercial licensing agreement. The agreement grants Psyence the worldwide right to commercialize Filament's natural psilocybin drug candidate, PEX010 (25 mg), within the context of palliative care.

Psyence is designing marketleading clinical trials in the field of palliative care. The licensing agreement with Filament grants Psyence exclusivity in the United Kingdom, the United States, and the European Union within palliative care, and designates Filament as Psyence's exclusive supplier of drug products within this context. Filament will receive milestone payments of up to $3 million over the course of Psyence's clinical development and marketing authorizations achieved by Psyence, as well as a percentage of future net sales in the low double digits.

Filament's growing technology licensing network now consists of partners using PEX010 to study indications including opioid tapering, palliative care, and alcohol use disorder.