Full Press Release Details
Biosciences Announces Bioproduction Platform Using Novel Cane Toad Enzyme for Psychedelic-Inspired Drug Discovery
details the bioproduction of novel indolethylamine-type drug candidates with potential use in psychiatric medicine
Mass., March 14, 2023 - Enveric Biosciences (NASDAQ: ENVB) ("Enveric" or the "Company"), a biotechnology
company dedicated to the development of novel small-molecule therapeutics for the treatment of anxiety, depression, and addiction disorders,
announced today new research detailing the first-ever isolation of a novel indolethylamine N-methyltransferase from cane toad
(Rhinella marina) and the successful development of a bioproduction platform for the isolation and pharmacological screening of
novel indolethylamines. A manuscript detailing the research has been submitted for peer-reviewed publication and is currently accessible
via the following open access platform https://www.researchsquare.com/article/rs-2667175/v1.
described in the paper, titled, "Bioproduction platform using a novel cane toad (Rhinella marina) N-methyltransferase for psychedelic-inspired
drug discovery," researchers at the University of Calgary, led by Peter Facchini, Ph.D., professor and Chief Innovation Officer
at Enveric, successfully isolated a novel indolethylamine N-methyltransferase - RmNMT - from cane toads, representing
the first alkaloid biosynthetic gene and cognate enzyme isolated from toad. Unlike functionally similar mammalian and fungal enzymes,
the researchers determined that the efficiency and promiscuity of RmNMT made it suitable for the bioproduction of new-to-nature indolethylamine
derivatives. From this discovery, the researchers have established an innovative platform for the bio-based production, purification,
and screening of novel indolethylamine-type drug candidates with potential use in psychiatric medicine. Subsequent purification and screening
experiments involving RmNMT revealed important observations on candidate stability, receptor activity, and ability to induce hallucination
psychedelic-inspired, novel drug compounds at scale requires bioproduction platforms as an alternative to traditional chemical synthesis.
Unfortunately, most bioproduction platforms fail to achieve the throughput, scale and versatility of synthetic chemistry due, in great
part, to a lack of efficient and promiscuous catalysts," stated Dr. Facchini. "This manuscript describes not only the production
of novel, psychedelic-inspired compounds using our newly discovered toad NMT, but also illustrates how these compounds can be rapidly
purified and subjected to in vitro and in vivo pharmacological screening."
mission is to bring science to psychedelics' to identify and develop novel compounds for the treatment of mental health
conditions that are underserved by current therapeutic options," stated Joseph Tucker, Ph.D. Director and CEO, Enveric Biosciences.
"To this end, we expect to soon initiate a first-in-human clinical trial of our lead product - EB-373 - for the treatment
of anxiety disorders, while simultaneously advancing our EVM301 program to enable the development of next-generation compounds that are
optimized with psychoactive properties but without the hallucinatory effect. The discovery of RmNMT and the advancement of a differentiated
bioproduction platform, as described in the manuscript, exemplifies Enveric's ability to leverage unique approaches to create new
molecules with novel and potentially beneficial pharmacology for the treatment of mental health disorders."
Biosciences (NASDAQ: ENVB) is a biotechnology company dedicated to the development of novel small-molecule therapeutics for the treatment
of anxiety, depression, and addiction disorders. Leveraging its unique discovery and development platform, The Psybrary , Enveric
has created a robust Intellectual Property portfolio of New Chemical Entities for specific mental health indications. Enveric's
lead program, the EVM201 Series, comprises next generation synthetic psilocybin analogues that are considered prodrugs of the active
metabolite, psilocin. Enveric is developing the first product from the EVM201 Series - EB-373 - for the treatment of anxiety
disorders. Enveric is also advancing its third generation of therapeutics, the EVM301 Series, to offer a holistic approach for treating
central nervous system disorders. Enveric is headquartered in Naples, FL with offices in Cambridge, MA and Calgary, AB Canada. For more
information, please visit www.enveric.com.
press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These
statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking
statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology
such as "plans," expects" or "does not expect," "proposed," "is expected," "budgets,"
"scheduled," "estimates," "forecasts," "intends," "anticipates" or "does
not anticipate," or "believes," or variations of such words and phrases, or by the use of words or phrases which state
that certain actions, events or results may, could, would, or might occur or be achieved. Forward-looking statements consist of not purely
historical statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking
statements are based on the beliefs of management as well as assumptions made by and information currently available to management. Actual
results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including,
but not limited to, the ability of Enveric to successfully spin-off its cannabinoid assets; the ability to achieve the value creation
contemplated by technical developments; the impact of the novel coronavirus (COVID-19) on Enveric's planned clinical trials; the
geographic, social and economic impact of COVID-19 on Enveric's ability to conduct its business and raise capital in the future
when needed; delays in planned clinical trials; the ability to establish that potential products are efficacious or safe in preclinical
or clinical trials; the ability to establish or maintain collaborations on the development of therapeutic candidates; the ability to
obtain appropriate or necessary governmental approvals to market potential products; the ability to obtain future funding for developmental
products and working capital and to obtain such funding on commercially reasonable terms; Enveric's ability to manufacture product
candidates on a commercial scale or in collaborations with third parties; changes in the size and nature of competitors; the ability
to retain key executives and scientists; and the ability to secure and enforce legal rights related to Enveric's products, including
patent protection. A discussion of these and other factors, including risks and uncertainties with respect to Enveric, is set forth in
Enveric's filings with the Securities and Exchange Commission (SEC), including Enveric's Annual Report on Form 10-K and its
Quarterly Reports on Form 10-Q. Enveric disclaims any intention or obligation to revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as required by law.
Strategic Advisors, Inc.
Strategic Advisors, Inc.