Enveric Biosciences Announces New Patent Issuances Protecting Multiple Assets Covered by Non-Binding Term Sheets
12 Marzo 2024 - 12:00PM
Business Wire
Patents extend compositional protection to
proprietary compounds
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,
on March 5, 2024, the United States Patent and Trademark Office
issued U.S. Patent No. 11,918,594, titled “Multi-Substituent
Psilocybin Derivatives” and is further expected to issue, on March
19, 2024, U.S. Patent No. 11,931,338, titled “Nitrilated Psilocybin
Derivatives”.
The newly issued patent and soon to be issued patent provide
composition of matter claim coverage on numerous potential drug
candidates not previously publicly disclosed by Enveric, as well as
to six compounds subject to the three recently announced
Non-Binding Term Sheets that Enveric entered into with an
undisclosed biotechnology company.
“The new patent and soon-to-issue patent expand our patent
portfolio and strengthen the opportunity presented to our current
and future partners and licensees. They also highlight the breadth
of the available patent coverage for other molecules available for
licensing in the Company’s PsybraryTM collections of licensable
portfolios,” said Joseph Tucker, Ph.D., Director and CEO of
Enveric. “These developments further demonstrate and validate the
value of opportunities presented by Enveric to potential licensees
seeking to develop novel chemical entities into proprietary, patent
protected products intended to address mental health disorders
affecting millions of people globally.”
While inviting drug development of its PsybraryTM collection of
compounds by others with the potential of significant financial
return, Enveric continues to focus on advancing its own lead
programs, EB-002 and EB-003, to develop therapeutics for the
treatment of specific mental health disorders and to maximize the
impact of its investments.
About Enveric Biosciences
Enveric 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, Psybrary™, Enveric has created a robust
intellectual property portfolio of New Chemical Entities for
specific mental health indications. Enveric’s lead program, EB-003,
is a first-in-class approach to the treatment of
difficult-to-address mental health disorders designed to promote
neuroplasticity without inducing hallucinations in the patient.
Enveric is also developing EB-002, formerly EB-373, a next
generation synthetic prodrug of the active metabolite, psilocin,
being studied as a treatment of psychiatric disorders. Enveric is
headquartered in Naples, FL with offices in Cambridge, MA and
Calgary, AB Canada. For more information, please visit
www.enveric.com.
Forward-Looking Statements
This 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, should, 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: negotiate and finalize
definitive agreements based on the three out-licensing term sheets
and perform pursuant to the terms thereof; 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 research and
development pipeline assets; continue as a going concern; and
manage its future growth effectively. The three out-licensing term
sheets identified herein are non-binding and may not result in
definitive agreements or attainment of the licensing fees
referenced therein.
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, 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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Investor Relations Tiberend Strategic Advisors, Inc.
Daniel Kontoh-Boateng (862) 213-1398 dboateng@tiberend.com
Media Relations Tiberend Strategic Advisors, Inc. Casey
McDonald (646) 577-8520 cmcdonald@tiberend.com
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