Filament Health Corp has entered into a licensing agreement with Reset Pharmaceuticals Inc. As per the agreement, Reset Pharma will use its botanical psilocybin drug candidate, PEX010, for a phase 2 clinical trial studying demoralization syndrome.

The clinical-stage natural psychedelic drug development company noted that PEX010 is formulated as a capsule for oral administration. It is currently being administered in multiple phase 1 and phase 2 human clinical trials that have been approved by the US Food and Drug Administration and Health Canada.

"We believe that demoralization syndrome is a complex and under-examined area of study. We are thrilled to develop a partnership with Reset Pharma and look forward to the advancement of our drug candidate in this important field," said Filament CEO Benjamin Lightburn.

Reset Pharma has joined a growing list of its licensing partners using PEX010 to advance their clinical trial programs. The partners are focused on indications including opioid tapering, palliative care, and alcohol use disorder.

"Clinical trial data indicates that psilocybin may be effective in treating demoralization syndrome, so we are pleased to partner with Filament, a leader in the development of pharmaceutical-grade botanical psilocybin, to advance our clinical trial," said Reset Pharma co-founder and interim CEO Jan-Anders Karlsson, adding, "Reset Pharma's lead program focuses on developing a psilocybin-related product to treat demoralization syndrome in patients with cancer. We believe that these patients have significant levels of demoralization with a perceived lack of control, hopelessness and helplessness, an increased risk of suicide, and currently have no effective treatment options."