Home Market News Micro Cap Stocks Enveric Biosciences Nabs U.S. Patent For Novel Psilocybin Derivatives, Details Here

Enveric Biosciences Nabs U.S. Patent For Novel Psilocybin Derivatives, Details Here

Enveric Biosciences Nabs U.S. Patent For Novel Psilocybin Derivatives, Details Here

The United States Patent and Trademark Office (USPTO) has recently granted Enveric Biosciences (ENVB) a new patent for the unique composition of matter and methods of use of their psilocybin-based molecules series EVM301. Enveric Biosciences is a biotech company that is making significant strides in the development of neuroplasticity-promoting psychoactive compounds for the treatment of depression, anxiety, and addiction disorders.

This patent provides Enveric Biosciences with the intellectual property rights and claims to novel compositions and pharmaceutical drug formulations for a range of carboxylated derivatives of tryptamine-based drug candidates. The company expects that this patent will further enhance the value of its EVM301 compound series, which is currently undergoing lead optimization and preclinical characterization.

Unlike traditional psilocybin-based therapies, Enveric’s compounds in the EVM301 series do not induce hallucinatory effects. These small-molecule therapeutics, known as New Chemical Entities (NCEs), are designed to engage serotonin receptor 5HT2A and other neurotransmitters to promote neuroplasticity and provide therapeutic benefits.

According to Joseph Tucker, Ph.D., Director and CEO of Enveric Biosciences, these molecules have a “unique design” that could revolutionize the treatment of depression and anxiety. They allow for the administration of psilocybin-derived therapeutics without the need for constant supervision by a healthcare professional. This innovation could greatly enhance the commercial potential of EVM301 series-based therapies, benefiting patients and healthcare systems alike by reducing the need for costly and time-intensive supervision requirements during treatment.

Enveric Biosciences has developed all of its New Chemical Entities (NCEs) through its discovery and development platform called “The Psybrary.” This includes their lead program, the EVM201 series of next-generation synthetic psilocin prodrugs, and their lead drug candidate, EB-373, which targets psychiatric disorders.

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Photo: Benzinga edit with photo by Bacsica, aiyoshi597, Gisele Yashar, and Gorodenkoff on Shutterstock.