Full Press Release Details
Biosciences Announces New U.S. Patent for C4-Carboxylic Acid-Substituted Tryptamine Derivatives
patent provides additional composition of matter and methods of use claims for Enveric's tryptamine-derived prodrugs including
EB-373, a new chemical entity psilocin prodrug
Mass., September 5, 2023 - Enveric Biosciences (NASDAQ: ENVB) ("Enveric" or the "Company"), a biotechnology
company dedicated to the development of novel neuroplastogenic small-molecule therapeutics for the treatment of anxiety, depression,
and addiction disorders, today announced that the United States Patent and Trademark Office (the "USPTO") has issued U.S.
Patent No. 11,746,087, titled "C-4 Carboxylic Acid Substituted Tryptamine Derivatives and Methods of Using," pertaining to
the Company's EVM201 Series and lead candidate EB-373, a psilocin prodrug being developed for the treatment of anxiety disorder.
September 5, 2023, the new patent provides Enveric with intellectual property rights for compositions and methods for tryptamine-derived
prodrugs utilizing C4 carboxylic acid substituted tryptamine derivatives. This patent complements the recently issued U.S.
Patent No. 11,707,447, titled "C4-Carbonothioate-substituted Tryptamine Derivatives and Methods of Using," providing Enveric
with a robust intellectual property portfolio governing psilocin prodrugs designed to potentially elicit a more rapid onset of action,
more controlled therapeutic effect, and reduced gastrointestinal side-effects compared to conventional psilocin prodrugs, such as psilocybin.
EB-373 was developed from Enveric's EVM201 Series of molecules, which are rationally designed to achieve altered metabolic and
pharmacokinetic properties.
patent issuance from the USPTO adds another important pillar to Enveric's intellectual property portfolio as we continue to distinguish
our tryptamine-based prodrugs from similar compounds being developed for the treatment of mental health disorders," said Joseph
Tucker, Ph.D., Director and CEO of Enveric. "Both our EVM201 Series, led by EB-373, and our EVM301 Series are designed to capitalize
on the potential of neuroplastogens that can enhance neuroplasticity while minimizing unwanted side effects, including prolonged and
unpredictable hallucinatory experiences. We expect continued positive IP-related developments in the coming months that, we believe,
will serve to further highlight the differentiation and value of EB-373 and our EVM201 and EVM301 Series of compounds."
lead drug candidate, EB-373, is a New Chemical Entity (NCE), designed as a next-generation proprietary psilocin prodrug and developed
leveraging the company's Psybrary drug discovery platform to target anxiety disorders. In preclinical studies, EB-373 displayed
efficient prodrug parameters, demonstrating rapid and complete generation of psilocin both in vitro and when orally administered. Mice
treated with EB-373 demonstrate dose-dependent induction of head twitch response characteristic of psilocin. In the Marble Burying Test,
an animal behavioral model of anxiety, EB-373 was able to promptly rescue the enhanced rate of marble burying observed in chronically
stressed mice, in line with the control baseline behavior and with long-term anxiolytic benefits lasting the length of the study, 7 days
Biosciences (NASDAQ: ENVB) is a biotechnology company dedicated to the development of novel neuroplastogenic 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 developing
the first product 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 in the patient. 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 may
include historical statements and statements regarding beliefs, plans, expectations, or intentions regarding the future and 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: carry out successful clinical programs in Australia; achieve the value creation contemplated by technical developments;
avoid delays in planned clinical trials; establish that potential products are efficacious or safe in preclinical or clinical trials;
establish or maintain collaborations for 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 of product candidates; respond to changes in the size and nature of competitors; hire and retain key executives and scientists;
secure and enforce legal rights related to Enveric's products, including patent protection; identify and pursue alternative routes
to capture value from its cannabinoid clinical development pipeline assets; continue as a going concern; and manage its future growth
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, 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.
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