Enveric Biosciences Announces Publication of Four Patent Applications for Psychedelic-Inspired Drug Candidates Patent Applications Aim to Expand Opportunities for Novel Therapeutics to Address a Broad Range of Psychiatri

Biosciences Announces Publication of Four Patent Applications for Psychedelic-Inspired Drug Candidates

Applications Aim to Expand Opportunities for Novel Therapeutics to Address a Broad Range of Psychiatric and Neurological Disorders

Fla., March 15, 2022 - Enveric Biosciences

Inc. (NASDAQ: ENVB) ("Enveric" or the "Company"), a neuroscience-focused

biotechnology company developing next-generation, psychedelic-inspired mental health medicines, today announced that the

Company's first four Patent Cooperation Treaty (PCT) applications for the tryptamine family of novel molecules have been

published by the World Intellectual Property Organization (WIPO). Additional PCT patent applications are expected to publish over

represents the core structural motif for numerous intriguing therapeutically active agents such as the classic psychedelic molecules

N, N-dimethyltryptamine (DMT), psilocybin, psilocin, and 5-MeO-DMT. Many of these molecules are being investigated worldwide as potential

treatments for a broad range of psychiatric and neurologic disorders, including mood and anxiety disorders, post-traumatic stress disorder,

cancer-related distress and more,1,2" said Bob Dagher, MD, Enveric's Chief Medical Officer. "These patent

applications aim to protect Enveric's assets of new drug candidates and place our discovery engine at the forefront of bringing

forward innovative psychiatric and neurologic therapeutics of the future."

is a classic psychedelic molecule that binds to and activates serotonin and other receptors in the brain.1,2 The tryptamine

class includes psilocybin, psilocin, and dimethyltryptamine (DMT), which are naturally occurring psychedelics that are currently under

intense study for therapeutic applications.1 Based on recent and emerging data, the Company believes this class of molecules

may have the potential to produce rapid, profound, and long-lasting benefits for a broad range of indications.

published PCT patent applications protecting Enveric's novel tryptamine-derived molecules, as well as the respective Written Opinion

of the International Searching Authority for each application, are available for review on the WIPO website.

Biosciences (NASDAQ: ENVB) is a cutting-edge

neuroscience company developing next-generation psychedelic-inspired mental health medicines.

Enveric's robust pipeline supports drug development from the clinic to commercialization for millions of patients in need around

the world suffering from conditions that include cancer-related distress, PTSD, and more. 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 statements that are not purely historical, 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 to achieve the value creation contemplated by technical developments;

the impact of the novel coronavirus (COVID-19) on Enveric's ongoing and 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 the Company'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.

Pinto / Allison Soss

Strategic Communications