Full Press Release Details
Biosciences Receives Notice of Allowance from USPTO for C4-Carboxylic Acid-substituted
Tryptamine Derivatives for Next Generation Psilocin
composition of matter claims expand intellectual property for Enveric's EVM201 Series
Mass., May 24, 2023 - Enveric Biosciences, Inc. (NASDAQ: ENVB) ("Enveric" or the "Company"),
a biotechnology company dedicated to the development of novel small-molecule therapeutics for the treatment of anxiety, depression, and
addiction disorders, today announced that it has received a Notice of Allowance from the United States Patent and Trademark Office (USPTO)
for a patent application involving its EVM201 Series. This is the second Notice of Allowance from the USPTO for intellectual property
governing the EVM201 Series. Notices of Allowance are issued by the USPTO after it has made a determination that a patent should be granted
from an application.
soon-to-issue patent, titled, "C4-Carboxylic Acid-Substituted Tryptamine Derivatives and Methods of Using," contains composition
of matter claims for a family of novel prodrug derivatives of psilocin that is structurally different from the recently announced Notice
of Allowance for C4-carbonothioate-substituted tryptamine derivatives. Collectively, it is expected that the two patent families will
provide 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,
latest Notice of Allowance related to our EVM201 Series highlights the unique psilocin prodrug designs being developed by our R&D
team, which are differentiated from other psilocybin-assisted therapies in both design and expected function," said Joseph Tucker,
Ph.D., Director and CEO of Enveric. "Securing intellectual property to protect our technological advances is a critical component
to our growth strategy, and we anticipate multiple additional claims in the coming months for both our EVM201 and EVM301 Series."
addition to the two EVM201 Series-focused Notices of Allowance, Enveric has filed 10 distinct patent families to date protecting its
EVM301 Series. Enveric's EVM301 Series of small molecule therapies are specifically designed to promote neuroplasticity and show
efficacy in animal models of depression and anxiety without inducing the hallmark hallucinations of other psychedelic or psychedelic-inspired
Biosciences (NASDAQ: ENVB) is a biotechnology company dedicated to the development of novel 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 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; manage its future growth effectively;
achieve the intended benefits of the cost reduction plan to the extent or as quickly as anticipated transition from third-party
service providers supporting R&D efforts to internal science teams without any adverse impact on Enveric's ongoing and planned
clinical trials; and engage the cost reduction plan efforts without negatively impacting Enveric's business operations and reputation.
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 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.
Strategic Advisors, Inc.
Strategic Advisors, Inc.