Enveric Biosciences Receives Patent Notice of Allowance for Novel Prodrug of Psilocin

This morning, Enveric Biosciences announced receipt of a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for a patent application involving EB-373, Enveric’s new chemical entity (NCE) psilocin prodrug being developed for the treatment of anxiety disorder.

From Joseph Tucker, Director and CEO of Enveric:

“The positive decision from the USPTO related to our lead candidate, EB-373 highlights the innovative designs of the psilocin prodrugs being developed as part of our EVM201 Series, and differentiations in those designs that enable our molecules to potentially elicit a more rapid onset of action, more controlled therapeutic effect, and reduced gastrointestinal side-effects compared to conventional psilocin prodrugs, such as psilocybin…”

Enveric stock, trading on the NASDAQ (ENVB) is up over 120% this morning.

Enveric Biosciences Receives Notice of Allowance from USPTO for Novel Prodrug of Psilocin

• Intellectual property describes composition of matter claims governing Enveric’s lead clinical candidate, EB-373, which is being developed for the treatment of anxiety disorder

Enveric Biosciences (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 EB-373, the Company’s new chemical entity (NCE) psilocin prodrug being developed for the treatment of anxiety disorder.

The soon-to-issue patent, titled, “C4-Carbonothioate-Substituted Tryptamine Derivatives and Methods of Using,” contains composition of matter claims for a family of novel prodrug derivatives of psilocin, including EB-373, Enveric’s lead product candidate. The USPTO issues a Notice of Allowance after making the determination that a patent should be granted from an application.

Additionally, Enveric has filed further composition of matter patent applications with the USPTO for psilocin prodrugs, including compositions comprising a crystalline molecular structure.  Further, companion Patent Cooperation Treaty (PCT) and non-US national patent applications have been filed to pursue global coverage of the EVM201 and EVM301 Series in target market countries, and positive International Search Reports (ISR) written opinions have been received under the PCT for a majority of those applications.

“The positive decision from the USPTO related to our lead candidate, EB-373 highlights the innovative designs of the psilocin prodrugs being developed as part of our EVM201 Series, and differentiations in those designs that enable our molecules to potentially elicit a more rapid onset of action, more controlled therapeutic effect, and reduced gastrointestinal side-effects compared to conventional psilocin prodrugs, such as psilocybin,” said Joseph Tucker, Ph.D., Director and CEO of Enveric. “Possessing multilayered IP for our NCE prodrugs is an important value driver for Enveric and is a key component of our business strategy as we seek to create a portfolio of novel small-molecule therapeutics for the treatment of mental health disorders.”

About Enveric Biosciences
Enveric 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.

Investor Relations Contact
Tiberend Strategic Advisors, Inc.
Daniel Kontoh-Boateng
(862) 213-1398
dboateng@tiberend.com

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