Clinical-stage psychedelic drug developer Filament Health Corp. (OTCQB: FLHLF) is teaming up with NeoLumina Bioscience Inc. to help test a psilocybin-based drug for eating disorders, the company said Friday.
The licensing agreement allows NeoLumina to use Filament’s proprietary botanical psilocybin drug candidate, PEX010, for its clinical and commercial development to address eating disorders.
PEX010, which is orally administered, received authorization from both the U.S. Food and Drug Administration and Health Canada to commence phase 1 and phase 2 human clinical trials.
“Nearly 10% of the global population suffers from an eating disorder and there are no approved drugs for most types,” NeoLumina CEO Gaetano Morello said in a statement.
NeoLumina is a life sciences company looking to develop “better first-line therapeutic candidates for mental health conditions that are based on psychedelic molecules,” the company said. The licensing agreement provides NeoLumina exclusive use of PEX010 for eating disorders. Additionally, the agreement stipulates that Filament will supply PEX010 to NeoLumina for research.
Under the terms of the contract, Filament is set to receive up to “seven figures” in milestone payments during NeoLumina’s clinical development phase and marketing authorization process. Future commercial royalties up to a low double-digit percentage of net sales are also included in the deal.
NeoLumina joins an expanding roster of Filament’s licensing partners, all utilizing PEX010 to further their clinical trial programs. Current partners are engaged in studies for conditions including opioid tapering, palliative care and alcohol use disorder.