Enveric Biosciences Announces Broad Range of Patent Issuances

BywpengineNovember 4, 2024No Comments

New patents expand the number and type of compounds available for development and the possible indications targeted, increasing the potential value of Enveric's drug candidate library

CAMBRIDGE, Mass. - Enveric Biosciences (NASDAQ: ENVB) ("Enveric" or the "Company"), a biotechnology company dedicated to the development of novel neuroplastogens for the treatment of neuropsychiatric disorders, today announces the expansion of patent protection for a broad range of molecules in its EVM301 portfolio through the issuance of five additional US patents and the recent allowance of three more patent applications by the United States Patent and Trademark Office.

The U.S. Patent Nos. 11,845,727; 11,858,895; 11,891,359; 11,998,557 and 12,128,058 join four other patents previously announced, bringing the total to nine issued U.S. patents covering the EVM301 portfolio and its drug candidate library. Enveric's Psybrary™ is a proprietary catalogue of over 1,000 tryptamine derivative molecules that incorporates receptor engagement and functional data to correlate structure with biological activity.

"The increasing depth and breadth of the EVM301 portfolio of molecules with strong intellectual property backing expands the value-capture opportunities available to Enveric," said Dr. Joseph Tucker, CEO of Enveric. "The EVM301 portfolio extends across a broad range of tryptamine derivative molecules including, but not limited to, carboxylated, aminated, prenylated, glycosylated, nitrilated, and halogenated derivative molecules, and combinations of two or more of these functional motifs, in the form of multi-substituent tryptamine derivatives."

Enveric's drug discovery engine has also uncovered molecules demonstrating enhanced preference for 5-HT2C receptors. "Included in our portfolio are several molecules, protected by issued patent claims, with potential as antiepileptic and anti-obesity drug candidates, which have demonstrated enhanced binding preference for the 5-HT2C receptor relative to other serotonergic, dopaminergic, and adrenergic receptor targets," reported Dr. Tucker.

The lead candidate derived from the EVM301 Series of compounds, EB-003, which targets major undertreated mental health indications including treatment-resistant depression and anxiety, is currently in preclinical development to support filing an Investigational New Drug (IND) application in 2025. The favorable safety profile of EB-003 is supported by receptor engagement data with key serotonergic targets that suggest the ability to promote clinically important neuroplasticity without inducing hallucinations, a significant safety concern limiting the potential to reach patients.

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, a next generation synthetic prodrug of the active metabolite, psilocin, being studied as a treatment for 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," "proposes," "budgets," "schedules," "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 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 any of its out-licensing term sheets and perform pursuant to the terms thereof; carry out successful clinical programs; 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.

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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