The import was conducted in collaboration with the government of Peru
Magdalena Biosciences is focused on developing novel, natural prescription medicines derived from plants for mental health indications
VANCOUVER, BC, Dec. 16, 2024 /CNW/ -Filament Health Corp. (OTCQB: FLHLF) (Cboe CA: FH) (FSE: 7QS) ("Filament" or "Filament Health"), a clinical-stage natural psychedelic drug development company, today announced that Magdalena Biosciences ("Magdalena"), a joint venture formed by Filament and Jaguar Health, Inc. (Nasdaq: JAGX) ("Jaguar Health"), successfully completed an import of six kilograms of coca leaf from Peru to Filament's Metro Vancouver research and development facility. This is the second import of coca leaf that Magdalena has completed. It was authorized by the Peruvian Health Authority, Dirección General de Medicamentos Insumos y Drogas (DIGEMID), and acquired from the Empresa Nacional de la Coca (ENACO), the only company in Peru authorized to distribute coca leaf.
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"We are pleased to partner with Filament Health and Magdalena to facilitate this second import of coca leaf," said Silveria Dongo Gonzales, Technical Director of ENACO. "We appreciate Filament and Magdalena's diligent efforts in maintaining a productive relationship with ENACO."
Magdalena was founded on a mission to develop novel, natural prescription medicines derived from plants for mental health indications including attention-deficit/hyperactivity disorder (ADHD) in adults. The coca leaf imported from Peru will be used for the development of a botanical drug candidate for the treatment of ADHD.
"By importing this significant volume of raw material, we are able to begin the important work of exploring coca leaf's therapeutic potential for the treatment of ADHD," said Benjamin Lightburn, Chief Executive Officer of Filament Health and Magdalena Board Member. "This import was a significant regulatory achievement by our team and we are grateful to the Peruvian government for its ongoing partnership."
ABOUT FILAMENT HEALTH (OTCQB:FLHLF) (CBOE:FH) (FSE:7QS) Filament Health is a clinical-stage natural psychedelic drug development company. We believe that safe, standardized, naturally-derived psychedelic medicines can improve the lives of many, and our mission is to see them in the hands of everyone who needs them as soon as possible. Filament's platform of proprietary intellectual property enables the discovery, development, and delivery of natural psychedelic medicines. We are paving the way with what we believe to be the first-ever natural psychedelic drug candidates.
ABOUT MAGDALENA BIOSCIENCES Jaguar Health, Inc. and Filament Health Corp. formed Magdalena Biosciences, Inc. as a joint venture in 2023 to develop novel, natural prescription medicines derived from plants for mental health indications including attention-deficit/hyperactivity disorder (ADHD) in adults. Boulder, Colorado-based One Small Planet, founded by Will Peterffy, has committed to funding of US$1,000,000. The goal of the collaboration is to extend the botanical drug development capabilities of Jaguar and Filament in order to develop pharmaceutical-grade, standardized drug candidates for mental health disorders.
FORWARD LOOKING INFORMATION Certain statements and information contained herein may constitute "forward-looking statements" and "forward-looking information," respectively, under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "expect", "anticipate", "continue", "estimate", "may", "will", "should", "believe", "intends", "forecast", "plans", "guidance" and similar expressions are intended to identify forward-looking statements or information. Forward-looking statements herein include, but are not limited to, statements regarding Nagoya Protocol compliance and the outcome of any coca leaf research. The forward-looking statements are not historical facts, but reflect the current expectations of management of Filament regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. Forward-looking statements regarding Filament are based on Filament's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Filament to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including results of the clinical trial. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Filament will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
