Enveric
Biosciences Announces Successful Synthesis and Filing of
Provisional
Patent for EV104 - Cannabinoid + Celecoxib Conjugate
Target
Indications include Osteoarthritis and Other Pain
Conditions
NAPLES,
Fla., February 08, 2022 -- InvestorsHub NewsWire
-- Enveric
Biosciences (NASDAQ: ENVB) ("Enveric" or the "Company"), a
neuroscience company developing next-generation,
psychedelic-inspired mental health, and oncology treatments,
today announced the development
of EV104a and EV104b, new molecular conjugates for Osteoarthritis
("OA") and other pain indications.
The treatment paradigm for OA, as
reflected in a recent review "Future Directions for the
Management of Pain in Osteoarthritis" by Nidhi Sofat, is largely unsatisfactory and
based on alleviating pain using NSAIDs and other pharmacotherapies
or intra-articular injection of corticosteroids, or hyaluronic
acid. Newer therapeutic alternatives, including combination
treatments, are needed for optimal control of symptoms. Enveric
recently licensed an Innovative Platform technology from Diverse
Biotech that led to the successful synthesis of EV104a, and EV104b,
two new chemical entity conjugates of cannabidiol (CBD) linked to
celecoxib.
EV104a and EV104b are
specifically designed to optimize pharmacokinetics and therapeutic
synergy via improved delivery, targeting abilities, and potency to
potentially be more efficacious and display fewer side effects than
current treatments. Enveric has confirmed the stability of the
molecules and the robustness of the manufacturing method.
Pre-clinical in vitro testing and characterization of these
molecules is underway. This program aims to create a new treatment
with improved tolerability, decreased toxicity, fewer side effects,
and enhanced long-term efficacy.
The EV104 celecoxib-cannabinoid
conjugates are protected by a recently filed provisional United
States patent application claiming the compositions, methods of
synthesis, and methods of treatment for inflammatory medical
conditions.
"We are pleased to announce the
creation of EV104a and EV104b for the potential treatment of OA and
other pain indications. Despite available therapies, individuals
with OA continue to suffer and look for new treatments to remediate
their pain. As the Company moves forward to execute our clinical
development plans, we believe our assets have the potential to
demonstrate superior efficacy with a more favorable safety profile
compared to current standards of treatment," said Dr. Joseph
Tucker, CEO of Enveric Biosciences.
Osteoarthritis is the most common
form of arthritis and a leading cause of disability, resulting in a
reduced quality of life. Enveric's EV104 program entered
pre-clinical testing to advance into clinical development with the
hope of offering better options for patients living with
pain.
About
Enveric Biosciences
Enveric Biosciences (NASDAQ:
ENVB) is an innovative biotechnology company developing
next-generation mental health and oncology treatments and clinical
discovery platform, leveraging psychedelic-derived molecules for
the mind and synthetic cannabinoids for the body. Enveric's robust
pipeline supports drug discovery efforts and clinical development
programs to enable the potential commercialization of effective
treatments for millions of patients in need around the world. For
more information, please visit www.enveric.com.
Cautionary
Statement Regarding 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 value
creation contemplated by technical developments; 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
Natalie Dolphin
Enveric Biosciences
Inc.
416.706.6364
ndolphin@enveric.com