Microdosing For Depression: Psychedelics Biotech Signs $66.5M Non-Binding Deal To Out-License Novel Psilocin Prodrug Candidate [Benzinga]
Tuesday, May 14, 2024 1 min read
Key Takeaway: Enveric Biosciences has signed a non-binding term sheet to out-license its Novel Psilocin Prodrugs to MindBio Therapeutics, which focuses on microdosing for psychiatric conditions. This deal follows another non-binding agreement for cancer treatment methods. The collaboration signifies a growing trend in psychedelic research for mental health.
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POSITIVE FACTORS
Enveric Biosciences is advancing its psychedelic research.
The deal with MindBio Therapeutics could enhance treatment options for depression.
The collaboration highlights growing interest in psychedelic medicines.
Full Press Release Details
Psychedelics biotech firm, Enveric Biosciences has signed a non-binding term sheet to out-license a class of Novel Psilocin Prodrugs (NPP) to Vancouver, British Columbia-based biopharma company MindBio Therapeutics Corp CSE: MBIO, which is pioneering novel treatments for psychiatric conditions using microdoses of psychedelic medicines.
The news comes on the heels of Enveric entering into a non-binding term sheet with an undisclosed biotech company (licensee) for an exclusive license to two patented methods aimed at treating breast cancer and other cancers.
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Frequently Asked Questions
What is the purpose of the deal between Enveric and MindBio?
The deal aims to out-license Novel Psilocin Prodrugs for treating psychiatric conditions.
What is microdosing in the context of this article?
Microdosing refers to using small doses of psychedelics to potentially treat mental health issues.
What other agreement did Enveric recently enter into?
Enveric also signed a non-binding term sheet for cancer treatment methods with an undisclosed company.