NAPLES, Fla., Oct. 5, 2021 /PRNewswire/ -- Enveric
Biosciences (NASDAQ: ENVB) ("Enveric" or the "Company"),
a patient-centric biotechnology company developing next-generation
mental health and oncology treatments by leveraging
psychedelic-derived molecules for the mind and synthetic
cannabinoids for the body, today announced that
PsyAITM – an artificial intelligence tool
designed by April19 to provide comprehensive pharmaceutical
design, manufacturing, pharmacology predictive and validating
methodologies – has successfully identified viable psychedelic
molecules for further drug discovery from Enveric's initial list of
500 psychedelic molecular compounds within its "Psybrary."
PsyAI has accelerated the development of optimized
pharmaceutical candidates, each tailored specifically for
difficult-to-treat mental health indications. Enveric believes it
will be the first psychedelic drug discovery and development
company to employ this machine-learning technology against an
extensive psychedelic molecule library to evaluate
higher-likelihood molecules that treat conditions that include
cancer-related distress, PTSD, and other central nervous system
(CNS) indications.
Enveric's adoption of PsyAI technology, which utilizes a set of
machine-learning models and other computational techniques,
including 3D structure generation and docking, is expected to
result in predictive outputs on relative drug potential from
Enveric's "Psybrary" of known and novel compounds. Enveric intends
to use the results in predicting drug likeness, CNS exposure, oral
bioavailability, toxicity, serotonin 5HT-2A receptor affinity and
activity. The Company expects to combine the predictions into a
multi-parameter score to rank the compounds by desirability and
patentability on a comparative basis to a dataset of FDA-approved,
orally available CNS drugs.
Additionally, this technology has helped Enveric identify
clusters of compounds that are likely to undergo metabolic
conversion into promising active compounds within the human body,
therefore acting as prodrugs. Further analysis and examination of
these prodrugs, also known as Generation 2 psychedelics, may expand
the scope of the "Psybrary" and offer possible ways of improving or
modifying the pharmacokinetic profiles of drug candidates.
"Through these machine-learning models, we believe we now have a
greater ability to characterize and categorize our 'Psybrary'
substituents, allowing Enveric to focus on the most promising
molecules, accelerate development, and increase our confidence in
the psychedelic drug candidates selected for advancement," said
Dr. Joseph Tucker, CEO of
Enveric. "As we work to bring more psychedelics from discovery to
the clinical phase, this is a powerful step in helping us develop
the right drug candidates needed to address the global mental
health challenges millions suffer from, beginning with
cancer-related distress."
"Beyond identifying specific psychedelic molecules to pursue
from its existing pipeline, we believe that Enveric will also have
the ability to expand future 'Psybrary' development to focus into
the clusters of molecular compounds that have the highest potential
to become viable drug candidates," said Dr. Peter Facchini, Enveric's Chief Scientific
Officer. "We expect this new technology will now bring Enveric yet
another step closer to providing much-needed supportive care for
cancer patients suffering from the debilitating side effects of
cancer treatment."
About Enveric Biosciences
Enveric
Biosciences (NASDAQ: ENVB) is an innovative biotechnology
company developing a next-generation mental health and oncology
treatment clinical discovery platform, leveraging
psychedelic-derived molecules for the mind and synthetic
cannabinoids for the body. Enveric's robust pipeline supports drug
development from the clinic to commercialization for millions of
patients in need around the world suffering from conditions that
include cancer-related distress, PTSD and more. 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, would, or might
occur or be achieved. Forward-looking statements consist of
statements that are not purely historical, including any statements
regarding beliefs, plans, expectations, or intentions regarding the
future. Such forward-looking statements 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 to achieve the synergies and value creation contemplated by
the amalgamation; the ability to promptly and effectively integrate
MagicMed's businesses; disruption from the integration of MagicMed
making it more difficult to maintain business, contractual and
operational relationships; the impact of the novel coronavirus
(COVID-19) on Enveric's ongoing and planned clinical trials; the
geographic, social and economic impact of COVID-19 on Enveric's
ability to conduct its business and raise capital in the future
when needed; delays in planned clinical trials; the ability to
establish that potential products are efficacious or safe in
preclinical or clinical trials; the ability to establish or
maintain collaborations on the development of therapeutic
candidates; the ability to obtain appropriate or necessary
governmental approvals to market potential products; the ability to
obtain future funding for developmental products and working
capital and to obtain such funding on commercially reasonable
terms; Enveric's ability to manufacture product candidates on a
commercial scale or in collaborations with third parties; changes
in the size and nature of competitors; the ability to retain key
executives and scientists; and the ability to secure and enforce
legal rights related to Enveric's products, including patent
protection. 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
(SEC), including the Company'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.
Investor Contacts
Valter
Pinto / Allison Soss
KCSA Strategic Communications
212.896.1254 / 212.896.1267
valter@kcsa.com / asoss@kcsa.com
Media Contacts
Raquel
Cona / Joe McIntyre
KCSA Strategic Communications
212.896.1204 / 856.381.8996
rcona@kcsa.com / jmcintyre@kcsa.com
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SOURCE Enveric Biosciences