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Filament Health Corp (FLHLF) is a clinical-stage natural psychedelic drug development company that focuses on the discovery, development, and delivery of safe, standardized, naturally-derived psychedelic medicines. The company's mission is to improve lives by making psychedelic medicines accessible to those in need. Filament has proprietary intellectual property and is advancing the first-ever natural psychedelic drug candidates. Recently, Filament has partnered with Magdalena Biosciences, Inc., a joint venture formed by Jaguar Health, to develop novel prescription medicines from plants for mental health indications, including ADHD, depression, and anxiety in adults. Filament believes that botanical drugs offer new mechanisms of action for treating mental disorders with potentially fewer side effects than traditional medications. The company has a strong focus on research, innovation, and sustainable drug development.
On June 12, 2024, Negev Capital Fund One, L.P. acquired 42,284,443 common shares of Filament Health Corp. via a convertible note due July 13, 2024, and the exercise of outstanding warrants at CAD$0.05 per share. This transaction raised CAD$864,222.15 for Filament. Negev Capital also converted CAD$1,250,000 worth of debentures into 25,000,000 shares. Prior to this, Negev Capital held 8,951,111 shares (4.2% of Filament).
Post-transaction, they now hold 51,235,554 shares, representing 20% of the total shares. The shares were acquired for investment purposes with no current plans for significant changes. Negev Capital may acquire or dispose of additional shares based on market conditions.
Jaguar Health has announced an out-licensing agreement with Magdalena Biosciences for a botanical drug candidate aimed at treating schizophrenia. This drug shows antipsychotic activity with a unique mechanism of action compared to current FDA-approved therapies. Under the deal, Jaguar will receive 10% of all upfront and milestone payments, excluding certain commercial milestones and R&D reimbursements. Additionally, Jaguar will earn royalties on net sales if the drug is FDA-approved and commercialized. The U.S. schizophrenia market is forecasted to reach $8.06 billion by 2030. Jaguar will present at the Lytham Partners Spring 2024 Investor Conference on May 30.
Jaguar Health, Inc. (NASDAQ:JAGX) has established the board of directors for its newly formed joint venture, Magdalena Biosciences, Inc., created with Filament Health Corp. (NEO:FH, OTCQB:FLHLF). The joint venture aims to develop natural prescription medicines targeting mental health issues, including ADHD in adults. Dr. Karen Brunke has been appointed as the acting CEO of Magdalena. Board members include Jaguar's CEO Lisa Conte and Filament's CEO Benjamin Lightburn, both bringing extensive experience in biotechnology and pharmaceuticals. This initiative intends to leverage plant-derived therapies for mental health, aligning with Jaguar's mission.
Filament Health has initiated dosing in the first FDA-approved clinical trial of naturally derived psychedelic drugs, specifically psilocin and psilocybin, at UCSF’s Translational Psychedelic Research Program. This phase one trial aims to assess the effects of three proprietary botanical drug candidates on healthy adults. The company recently raised
Filament Health (OTCQB: FLHLF) has announced that CEO Benjamin Lightburn will present live at VirtualInvestorConferences.com on October 14, 2021, at 4:00 PM ET. This event invites investors to engage with real-time questions regarding Filament’s future plans and recent achievements, including a stock uplisting. Notable highlights include approval for trading on the OTCQB, DTC eligibility, and the first public patent for natural psilocybin extraction. The archived webcast will be available for those unable to attend live.
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