Full Press Release Details
Biosciences Announces Manuscript Detailing the Development of Novel Psilocin Prodrugs for the Treatment of Anxiety and Other Mental Health
highlights the potential of Enveric's EVM201 Series aimed at developing psilocin prodrugs with altered metabolic profiles that
offer superior administration and treatment benefits, but reduce pharmacological exposure
Mass., May 22, 2023 - Enveric Biosciences, Inc. (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,
has announced new research results detailing the development of novel psilocin prodrug derivatives targeting treatment of mental health
disorders. A manuscript describing the research has been submitted for peer-reviewed publication and is currently accessible via the
following open access platform: https://biorxiv.org/cgi/content/short/2023.05.16.540994v1
paper entitled, "Novel psilocin prodrugs with altered pharmacological properties as candidate therapies for treatment-resistant
anxiety disorders," outlines comprehensive research performed by scientists at Enveric, supported by affiliated partners at the
University of Calgary, and led by Dr. Peter Facchini, Ph.D., professor of biochemistry and Chief Innovation Officer at Enveric. Foundational
to the work was the creation of a library of novel prodrug derivatives of psilocin, the active metabolite responsible for the effects
of psilocybin, incorporating a diversity of established and metabolically favorable functional groups that reduce the duration of the
psychedelic experience produced by psilocybin, while maintaining the long-term mental health benefits. Beginning with twenty-eight unique
compounds representing nine distinct prodrug classes, the researchers screened each molecule to generate five unique prodrug derivatives
with properties matching and exceeding psilocybin. Of these active prodrugs, two distinct molecules were selected to proceed further
as potential therapies for anxiety disorders.
has shown therapeutic benefit for the treatment of numerous psychiatric diseases; however, due to the high intensity and duration of
the psychedelic experience, there is a significant barrier to its widespread therapeutic application," said Dr. Facchini. "To
address this issue, we designed a series of novel psilocin prodrug derivatives that are able to release therapeutically relevant levels
of the psychoactive agent psilocin, with improved pharmacokinetic concentration and profiles. We believe this work has the potential
to bring dramatically improved drug candidates to the clinic as potential novel therapies for anxiety disorders."
research described in this manuscript demonstrates the potential of Enveric's discovery platform and engine to identify and develop
novel psilocin prodrugs that offer key improvements over conventional psilocybin-assisted therapies," said Joseph Tucker, Ph.D.,
Director and CEO of Enveric Biosciences. "Our lead product candidate, EB-373, which was derived from this important work, offers
the potential to elicit a more rapid onset of action, more controlled therapeutic effect, and reduced side-effects, which we believe
differentiates it from other drugs as a potential novel treatment for anxiety 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 prodrugs of the active metabolite, psilocin. Enveric is progressing
its lead candidate from the EVM201 Series - EB-373 - for the treatment of anxiety disorders. Enveric is also advancing its
second program, the EVM301 Series, to offer a first-in-class, new approach to the treatment of difficult-to-address mental health disorders,
mediated by the promotion of neuroplasticity without inducing hallucinations. 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
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which state that certain actions, events or results may, could, would, or might occur or be achieved. Forward-looking statements may
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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: achieve the value creation contemplated by technical developments; avoid delays in planned preclinical and clinical
trials; carry out successful clinical programs; raise capital in the future when needed; establish that potential products are efficacious
or safe in preclinical or clinical trials; establish or maintain collaborations on the development of therapeutic candidates; obtain
appropriate or necessary governmental approvals to market potential products; obtain future funding for product development and working
capital on commercially reasonable terms; scale-up manufacture product candidates; respond to changes in the size and nature of competitors;
hire and retain key executives and scientists; and 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
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future events or otherwise, except as required by law.
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