Filament Health (OTCQB: FLHLF) has inked a licensing deal with biotech firm Reset Pharmaceuticals Inc. to test a psychedelic-based drug for treating a severe form of emotional distress.
Under the agreement, Filament will license its botanical psilocybin drug candidate, PEX010, to Reset Pharma for a phase 2 clinical trial.
“Clinical trial data indicates that psilocybin may be effective in treating demoralization syndrome,” said Jan-Anders Karlsson, co-founder and interim CEO of Reset Pharma.
While there’s growing interest in psychedelics as potential treatments for various mental health conditions, Reset Pharma is specifically honing in on the plight of cancer patients who grapple with intense feelings of demoralization, risking suicide, and currently lacking effective treatments.
“We believe that demoralization syndrome is a complex and under-examined area of study,” Filament CEO Benjamin Lightburn said in a statement. “We are thrilled to develop a partnership with Reset Pharma and look forward to the advancement of our drug candidate in this important field.”
Multiple other entities have already licensed Filament’s PEX010 for clinical trials, looking to address issues such as opioid addiction and alcohol-related disorders.