Enveric Biosciences Announces Manuscript Describing the Development of Lead Product Candidate, EB-373, to be Featured on the Cover of the Journal of Medicinal Chemistry
November 27 2023 - 8:00AM
Business Wire
Peer-reviewed article describes the creation of
a library of novel prodrug derivatives of psilocin from which
EB-373 was selected
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 a
research article describing the development of lead therapeutic
candidate, EB-373, a novel psilocin prodrug, will be published on
the cover of the Journal of Medicinal Chemistry, a peer-reviewed
journal published by the American Chemical Society (ACS).
The article entitled, “Novel psilocin prodrugs with altered
pharmacological properties as candidate therapies for
treatment-resistant anxiety disorders,” describes the creation of a
library of novel prodrug derivatives of psilocin, incorporating a
diversity of established and metabolically amenable functional
groups that alter the absorption, physiological processing, and
overall exposure of this psychoactive agent. The modifications made
in the generation of the library of compounds offer the potential
to reduce the duration of the psychedelic experience generated by
psilocybin, while maintaining the long-term mental health benefits
of psilocin.
“The publication in the Journal of Medicinal Chemistry, notably
as the issue’s cover article, is a major step in validating the
proficiency of Enveric’s innovation engine by demonstrating the
comprehensive processes employed to rapidly generate and screen a
large library of novel psilocin compounds,” said Joseph Tucker,
Ph.D., Director and CEO of Enveric. “As described in the peer
reviewed article, our team of leading researchers have developed a
rigorous approach to evaluating novel Psybrary compounds,
integrating numerous screening assays with early preclinical
assessments to quickly identify promising compounds and allow us to
confidently nominate drug candidates, with the highest therapeutic
potential.”
Enveric is advancing preclinical development of EB-373 with
extensive toxicology and tolerability studies that have continued
to generate promising regulatory data establishing favorable safety
profile for the novel psilocybin prodrug. The company expects to
complete all enabling preclinical studies by the end of 2023.
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, 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
psychiatric disorders. Enveric is also advancing its second
program, the EVM301 Series, expected 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.
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 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: 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 cannabinoid clinical
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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version on businesswire.com: https://www.businesswire.com/news/home/20231126422057/en/
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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