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Clinical-stage psychedelics drug development company Filament Health Corp. (OTCQB:FLHLF) has obtained two new patents for the extraction and standardization of natural psilocybin and associated psychedelic compounds by the USPTO.
Filament’s proprietary technology to extract and standardize stable doses of natural compounds from magic mushrooms received the first-ever patent on August 3, 2021, and built on other three patents by the USPTO and five by the Canadian IP Office.
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The two new patents, which describe technology for transforming variable psychedelic raw materials into pharmaceutical-grade drug candidates, add to the company’s IP portfolio which now consists of ten patents for extracting and standardizing methods of natural psychedelics.
Filament’s IP director Taran Grey said that when the company was founded it was thought that producing stable psilocin was impossible.
“We have since been granted patent protection for successful production of psilocin at all stages of manufacture: from extraction to purification to standardization and beyond,” Grey stated, exemplifying with Filament’s issued patents around noningestive administration.
“The fact that we have never had a patent application denied, compared to the industry average of a less than 50% success rate, is further validation of this talent," he said.
Photo courtesy of Susie Hedberg and only_kim on Shutterstock.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.