FILAMENT HEALTH ANNOUNCES INTERIM RESULTS FROM PHASE I CLINICAL TRIAL AT THE UNIVERSITY OF CALIFORNIA SAN FRANCISCO

Healthy subjects have been dosed with Filament's botanical psilocybin and psilocin drug candidates

VANCOUVER, BC, May 30, 2023 /CNW/ - Filament Health Corp. (OTCQB: FLHLF) (NEO: FH) (FSE: 7QS) ("Filament" or the "Company"), a clinical–stage natural psychedelic drug development company, today announced interim safety reporting from its Phase I clinical trial in partnership with the University of California, San Francisco (UCSF)'s Translational Psychedelic Research Program (TrPR). Four healthy subjects have been dosed with Filament's botanical psilocybin drug candidate, PEX010, as well as the Company's botanical psilocin drug candidates, PEX020 and PEX030.

"These are the first reported clinical trial results regarding a naturally sourced psychedelic drug. We are pleased with our progress thus far," said Dr. Joshua Woolley, MD/Ph.D., director of TrPR and the study's Principal Investigator. "Because the drug candidates have been well-tolerated, the study will continue as planned."

Fifteen doses of Filament's drug candidates have been given, and all were reported to be well tolerated with no serious or unexpected adverse events. This is the first FDA-approved clinical trial of a naturally-derived psychedelic drug candidate, as well as the first time that psilocin has been directly administered in a clinical trial.

"We're proud to continue our relationship with UCSF and to have such promising early results," said Benjamin Lightburn, Chief Executive Officer and Co-Founder of Filament Health. "This industry-first trial is a testament to Filament's innovative drug development and operational capabilities."

ABOUT FILAMENT HEALTH (OTCQB:FLHLF) (NEO: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 for clinical development. We are paving the way with the first-ever natural psychedelic drug candidates.

Learn more at www.filament.health and on Twitter, Instagram, and LinkedIn.

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. 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 the Company are based on the Company'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 status of patent applications and the ability to secure patents. 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.

SOURCE Filament Health Corp.

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