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Friday, May 17, 2024 1 min read
Key Takeaway: Enveric Biosciences has entered into a non-binding term sheet to out-license a class of novel psilocin products to MinBio Therapeutics. This agreement could yield up to $66.5 million in milestone payments, marking a significant step for the development-stage company. The deal may bolster Enveric's pipeline and investor interest.
Price reaction · baseline $159.12 (2024-05-17T16:31:00.000Z) · hit during market hours · 1 other ENVB headline(s) in the window, move may be shared
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POSITIVE FACTORS
Enveric Biosciences has secured a significant deal with MinBio Therapeutics.
The potential milestone payments could reach up to $66.5 million.
This partnership could enhance Enveric's product pipeline.
Full Press Release Details
Enveric Biosciences signed a non-binding term sheet to out-license a class of novel psilocin products to MinBio Therapeutics for up to $66.5 million in milestone payments.
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Frequently Asked Questions
What is the deal between Enveric and MinBio?
Enveric Biosciences has signed a non-binding term sheet to out-license psilocin products to MinBio Therapeutics.
How much could Enveric earn from this deal?
The deal could yield up to $66.5 million in milestone payments for Enveric.
What type of products are involved in the agreement?
The agreement involves a class of novel psilocin products developed by Enveric.