Filament Health — SPAC Merger (July 2023)
28 slides from Filament Health's SPAC merger presentation, Jul 24, 2023
Slide 1: Investor Presentation - Proposed Business Combination with Jupiter Acquisition Corporation
Cor p or ate P re s e ntat ion - J uly 2023 Psychedelic Medic ines Naturally Derived Ju ly 2023 Inve s tor P res e ntati o n Proposed Business Combination with Jupiter Acquisition Corporation
Slide 2: Disclaimer
F ILAM ENT H EALTH In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 2 Disclaimer This presentation (this “Presentation”) is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to the proposed business combination b
Slide 3: Summary Transaction Overview
F ILAM ENT H EALTH Summary Transaction Overview • Filament Health Corp. (“Filament”) signed a Business Combination Agreement on July 18, 2023, to combine with Jupiter Acquisition Corporation (Nasdaq:JAQC) (“Jupiter”) • Combined company will operate under the same management team as Filament Health C
Slide 4: Detailed Transaction Overview
In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 F ILAM ENT H EALTH 4 Detailed Transaction Overview Illust r ative S o u r c es & U s es S o u r c es ( I n U S D mil l ions) 14.8 $ Ju p iter Cash in Trus t 1 176.0 $ Stock Iss u ance to Fila men t 5.0 $ Cash from PIP E 2 195.8 $ Total S o u r c es
Slide 5: Filament Health Value Pillars
F ILAM ENT H EALTH In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 5 Filament Health Value Pillars ● Patented botanical drug development platform to create clinical - stage drug candidates ● Exceptional IP benefits from complex botanical API with faster path to clinic and ongoing distribution via
Slide 6: Botanical drugs defined by FDA guidance
F ILAM ENT H EALTH ● Defined by the FDA Botanical Drug Guidance (2016) 1 , botanical drugs: ○ Are derived from plant materials, algae, macroscopic fungi, and combinati o n s thereof ○ Have a complex combination of multiple active compounds, rather than one sing l e compound ○ Typical l y ha v e d oc
Slide 7: Botanical Drug Advantages
In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 F ILAM ENT H EALTH 7 Botanical Drug Advantages 1. Intellectual Property ● Process patents for manufacturing methods (extraction, purification, standardization) ● Small changes in the source material, manufacturing methods, or formulation can cause l
Slide 8: Botanical Drug Advantages: Efficacy and Fast Track to Clinic
In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 F ILAM ENT H EALTH 8 3. Efficacy Benefits and Consumer Preference ● Positive efficacy benefit from several compounds working together (entourage effect) is not possible in synthetics or natural isolates ● Natural drugs have a completely different im
Slide 9: Second Generation Psychedelic Compounds
In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 F ILAM ENT H EALTH S ec ond Gene r ati o n Psychedelic Compo u nds: ● While patentable, have unknown safety and efficacy requiring costly and risky preclinical work ● Seek to shorten treatment time; whether this can be accomplished remains to be see
Slide 10: Currently in FDA Trials: Psychedelic Botanical Drugs
In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 F ILAM ENT H EALTH 10 Currently in FDA Trials: Psychedelic Botanical Drugs Technology enables rapid creation of unique, protected drug candidates with fast - track to clinical development Tar g et I ndications Pha s e I I Pha s e I R&D St a nda r di
Slide 11: Drug Development Focus - Substance Use Disorders
In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 F ILAM ENT H EALTH 11 Drug Development Focus - Substance Use Disorders C lear endpo ints and s ignificant unm et nee ds ● Among Americans aged 12 or older in 2021, 8.6% (or 24 million peop l e) had a t l ea s t one dru g use disorder in the p a st y
Slide 12: Stimulant Use Disorder Opportunity
In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 F ILAM ENT H EALTH 1. Key Substance Use and Mental Health Indicators in the United States: Results from the 2021 National Survey on Drug Use and Health 2. NCHS Data Brief: Drug Overdose Deaths in the United States, 1999 – 2019 3. Filament management
Slide 13: Opioid Use Disorder Opportunity
In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 F ILAM ENT H EALTH ● In the latest (2021) national survey, 9.2 million Americans reported opioid misuse of which 5.6 million reported an opioid use disorder (OUD) 1 ● Overdose deaths nearly doubled from 7.4 to 15.5 deaths per 100,000 standard popula
Slide 14: Pre-Marketing Authorization Sales
In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 F ILAM ENT H EALTH 14 Pre - Marketing Authorization Sales Significant revenue opportunities and first - mover advantage in both pharma and non - pharma emerging markets Prescription: Several jurisdictions have enabled pre - marketing authorization d
Slide 15: Strategic Out-Licensing Program
F ILAM ENT H EALTH Strategic Out - Licensing Program ● Fi l a ment Mile s tone p a yments are gener a ted each Pha s e I I an d /or I I I clini cal trial conduc t ed ● Marketing authorization milestones are separately tr i g g ered in each major ju r is d ic t i o n Illu strative Contract S tru ct u
Slide 16: Select Current Customers
F ILAM ENT H EALTH LICENSING Select Current Customers Rev e nu e - gen e r ating, st r at e gic ou t - lic e n s ing part n er ships Arrangement Drug Pha s e I I Pha s e I Indication Customer Commercial Licensing P EX 010 (2 5 m g ) P a ll iative Care Ps y en c e G r o u p No n - Comme r cial Licens
Slide 17: Significant Intellectual Property Portfolio
In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 F ILAM ENT H EALTH Significant Intellectual Property Portfolio 18 issued patents and at least 47 additional patent applications believed to create significant barriers to entry ● There are a finite number of ways to extract, purify, and standardize
Slide 18: Enabling a Thriving Research Ecosystem
F ILAM ENT H EALTH Enabling a Thriving Research Ecosystem Indication Status Dosage Drug Sponsor Depression 1mg PEX010 Uni v ersity of T o r on t o order A l c o hol Use Dis 25mg PEX010 Brugmann University Hospital order Alc o hol Use Dis 25mg PEX010 Copenhagen U. Ho s pital s t ant De p r ession Tre
Slide 19: Magdalena Biosciences Joint Venture
F ILAM ENT H EALTH Magdalena Biosciences Joint Venture (20% own e rship) ● Provide f unding of U S $ 1 . 0 M on the achievement of de fined milestones In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 19 Value - creating joint venture leveraging Filament’s R&D expertise ● Formed US - based joint ve
Slide 20: Vertically-Integrated Supply Chain
In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 F ILAM ENT H EALTH Vertically - Integrated Supply Chain ~3,500 ft 2 GMP - comp l iant manufacturing, re sear ch, an d devel opment facility o n Br itish Col u m bia In stitute of Techno l ogy campus P r op aga tio n , ex trac t ion, p r oduction , d
Slide 21: Filament Management Team
F ILAM ENT H EALTH Filament Management Team Deep experience in botanical extraction, intellectual property, biotech, pharma, commercialization, and capital markets Benjam i n L i g htb u r n CE O, D irector C o - Founder B. Sc (P h ysics ), M B A P r o v e n en tr ep r e neur and le ad er sp e ci al
Slide 22: Filament Board of Directors
F ILAM ENT H EALTH Filament Board of Directors Jon Con l in Director Par t n e r at F asken Cor p or ate and commerci al lawy e r special izing in co m p anies in the t echnol o g y and h e al t h scie n ces s e c t or s incl ud ing v e nt u r e ca p i t ali sts and start - ups Ma ureen O’Co n ne l
Slide 23: Overview of the Jupiter Acquisition Corporation Team
F ILAM ENT H EALTH Overview of the Jupiter Acquisition Corporation Team Jupiter Overview J u p i te r i s a spe c i al p u rpose ac q u i si ti o n c o m pa n y (“SPAC”) created to enter into a business c o m b i n at i o n w i th a c o m pa n y w h ere th e m an ag e m e n t te am c an m ake a tran
Slide 24: Indicative valuation considerations
In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 F ILAM ENT H EALTH ● In d icative v a lu a ti on ran g e can b e e s ti ma ted by comparing Filament to related psychedelics and mental hea l th f oc u sed public companies trading on U S national exchanges at dif f erent sta g es of development ● B
Slide 25: Psychedelic comparable companies
In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 F ILAM ENT H EALTH informational purposes only and do not purport to reflect the real, assumed or potential valuation of the combined company. The valuations should not be relied upon in making an investment decision with respect to the potential pu
Slide 26: Selected Clinical Stage Psychedelic Comparable Companies
In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 F ILAM ENT H EALTH informational purposes only and do not purport to reflect the real, assumed or potential valuation of the combined company. The valuations should not be relied upon in making an investment decision with respect to the potential pu
Slide 27: Risk Factors
F ILAM ENT H EALTH In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 27 The risks listed below are certain of the general risks related to the business of Filament Corp. ("Filament"). This list is not exhaustive and has been prepared solely for the purpose of inclusion in this presentation and not
Slide 28: Glossary
F ILAM ENT H EALTH In v e st or P r e s e ntat i o n - Ju l y 2 0 2 3 28 Glossary Active Compounds: Substance formed from two or more elements that exerts a direct physiological effect on a plant, animal or another microorganism Active Metabolite: An agent produced following metabolism of a drug, wh