Enveric Biosciences Files Portfolio of Patent Applications for Tryptamine-Based Molecules Robust Portfolio of Psychedelic-Inspired Molecules Positions Enveric to Achieve Global Patent Protection to potentially Cover Mill

Files Portfolio of Patent Applications for

Robust Portfolio of Psychedelic-Inspired Molecules

Positions Enveric to Achieve Global Patent

Protection to potentially Cover Millions of Novel

Pharmaceutical Candidates

March 1, 2022 - Enveric Biosciences (NASDAQ: ENVB) ("Enveric" or

the "Company"), a neuroscience-focused pharmaceutical company developing next-generation, psychedelic-inspired mental

health medicines, today announces that it has filed its 10th Patent Cooperation Treaty ("PCT") patent

application directed to tryptamine-based derivative molecules, completing the Company's broad series of PCT applications

covering this family of compounds.

The Company's robust tryptamine-derivative

intellectual property portfolio claims novel molecules structurally related to certain naturally occurring psychedelics, such as dimethyltryptamine

(DMT), psilocybin, psilocin, and 5-MeO-DMT. Some of the naturally occurring molecules are themselves currently

being investigated by researchers around the world as potential treatments for a broad range of psychiatric and neurologic disorders

including depression, anxiety, schizophrenia, obsessive-compulsive disorder, posttraumatic stress disorder, eating disorders, pain, autism,

and Alzheimer's disease.1,2

"With the aim of optimizing commercial and regulatory

success, a primary focus of Enveric is the creation of novel molecules with improved pharmaceutical characteristics that are also protected

by composition of matter, manufacturing, and method-of-use patent claims," said Dr. Peter Facchini, Chief Innovation Officer, Enveric.

"Enveric's extensive intellectual property portfolio enables the Company to invest in, and harness, the therapeutic potential

of these molecules. In our pursuit to maximize the potential of our large and diverse library of novel and protected drug candidates,

we intend to pursue out-licensing opportunities to collaborate with other leading drug development companies with a similar focus on delivering

benefits to patients suffering from psychiatric and neurologic disorders".

Biosciences (NASDAQ: ENVB) is a neuroscience-focused pharmaceutical company developing next-generation,

psychedelic-inspired mental health medicines. Enveric's robust pipeline supports drug

development from the clinic to commercialization aimed to help millions of patients in need around the world suffering from conditions

that include cancer-related distress, PTSD and more. For additional information, please visit www.enveric.com.

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 pre-clinical or 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 pre-clinical

or 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