Full Press Release Details
Biosciences Expands IP Portfolio with New U.S. Patent for Novel Carboxylated Psilocybin Derivatives Supporting its EVM301 Series of Drug
to novel composition of matter and pharmaceutical drug formulations encompass EVM301 Series of drug candidates, targeting various difficult-to-treat
mental health disorders by promoting neuroplasticity without inducing hallucinations
Mass., September 20, 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 depression, anxiety and
addiction disorders, today announced that the United States Patent and Trademark Office issued U.S. Patent No. 11,752,130, titled "Carboxylated
Psilocybin Derivatives and Methods of Using," pertaining to the Company's EVM301 Series of molecules being developed as potential
treatments for mental health disorders.
new patent, issued September 12, 2023, provides Enveric with intellectual property rights with claims to novel compositions and pharmaceutical
drug formulations for a family of carboxylated derivatives of tryptamine-based drug candidates. The Company expects the patent to further
strengthen and add value to Enveric's EVM301 Series of compounds, which are undergoing lead optimization and preclinical candidate
characterization procedures. Enveric's EVM301 Series encompasses new chemical entity tryptamine derivatives designed to engage
the serotonin 5HT2a receptor and other neurotransmitter receptors with the intent to promote neuroplasticity and therapeutic benefit
without inducing hallucinatory effects.
EVM301 Series consists of small molecule therapies designed with the intent to enhance neuroplasticity while reducing or eliminating
hallucinations associated with other psychedelic or psychedelic-inspired agents," said Joseph Tucker, Ph.D., Director and CEO of
Enveric. "This unique design could be potentially game-changing in the treatment of depression and anxiety as it offers the opportunity
to administer psilocybin-derived medications without the requirement for a healthcare professional to observe during dosing. We believe
this could greatly enhance the commercial opportunity of EVM301 Series-based therapies, benefiting patients and healthcare systems broadly
by reducing the need for costly and time-intensive requirements for supervision throughout the treatment. For these reasons, Enveric
is seeking to build a robust intellectual property portfolio for our EVM301 Series with this U.S. patent providing a critical IP cornerstone."
Biosciences (NASDAQ: ENVB) is a biotechnology company dedicated to the development of novel neuroplastogenic small-molecule therapeutics
for the treatment of depression, anxiety, 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 psychiatric disorders. Enveric is also advancing
its second program, the EVM301 Series, expected 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 also 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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Strategic Advisors, Inc.