Filament Health Corp (OTCQB:FLHLF) told investors that its Magdalena Biosciences joint venture (JV) with Jaguar Health has completed an import of coca leaf to Filament’s Metro Vancouver research and development facility.
The clinical-stage natural psychedelic drug development company said its wholly-owned subsidiary Psilo Scientific received the imported leaves, which will be used for initial research purposes to look at neuropsychiatric indications.
Filament said the coca leaf was acquired from Empresa Nacional de la Coca (ENACO), the only company in Peru authorized to collect, distribute and export coca leaf and their derived products, and authorized by the Peruvian Health Authority, Dirección General de Medicamentos Insumos y Drogas (DIGEMID).
With Magdalena, it is now in the process of seeking full Nagoya Protocol compliance in Peru. The Nagoya Protocol is an international agreement that aims to ensure the fair and equitable sharing of benefits arising from the utilization of genetic resources and associated traditional knowledge held by indigenous and local communities.
“We appreciate Filament and Magdalena’s efforts to ensure that they have fully followed all of the requirements of ENACO, and that they are working through the process to obtain full compliance with the Nagoya Protocol in Peru,” Richard Caballero, director of Industrial Commercialization at ENACO, said.
Filament explained that 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.
“This import is a significant achievement which validates the work of our regulatory team and affirms our ability to develop productive relationships with government agencies globally,” Filament Health CEO and Magdalena board member Benjamin Lightburn added.
“We are grateful to the Peruvian government for its cooperation, and to Steven King, PhD, Chief Sustainable Supply Officer at Jaguar Health, who facilitated the relationship with DIGEMID and ENACO on behalf of Filament and Magdalena. We look forward to continued collaboration with Magdalena and Jaguar to pioneer this valuable research.”
Filament Health is a clinical-stage natural psychedelic drug development company. The company’s platform of proprietary intellectual property enables the discovery, development, and delivery of natural psychedelic medicines.
Contact the author at stephen.gunnion@proactiveinvestors.com