Accomplished pharmaceutical industry leader
brings to Enveric extensive experience in clinical operations,
asset strategy and product development
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, announced today the
appointment of Lynn Gallant to the position of Vice President,
Clinical Operations. Ms. Gallant brings more than 25 years of
clinical operations and trial management experience to Enveric and
will work alongside Bob Dagher, M.D., Chief Medical Officer, to
oversee the ongoing development of the company’s EVM201 Series and
EVM301 Series clinical programs.
“Lynn possesses more than 25 years of experience in the
pharmaceutical industry, including leadership positions at both
large and emerging pharmaceutical companies. As our newly appointed
Vice President, Clinical Operations, she will be responsible for
driving the clinical development of our EVM201 and EVM301 product
platforms,” said Joseph Tucker, Ph.D., Director and CEO of Enveric
Bioscience. “During her impressive career, Lynn has led numerous
clinical programs from ‘first-in-human’ to Phase 3, managing
performance targets to meet company goals, maintain resources, and
coordinate process development to ensure optimal trial outcomes. We
are delighted that Lynn is joining Enveric’s senior team as we
prepare to initiate a clinical trial investigating EB-373, the
first product from the EVM201 Series, for the treatment of anxiety
disorders.”
Ms. Gallant was most recently Vice President, Clinical
Operations at BlueRock Therapeutics, a subsidiary of Bayer, where
she led multiple clinical programs investigating the company’s cell
and gene therapy platform across several disease indications.
Additionally, Ms. Gallant worked with BlueRock’s regulatory team to
prepare and secure Investigation New Drug (IND) applications, fast
track submissions, and breakthrough and orphan drug designations.
Prior to BlueRock, Ms. Gallant served as Executive Director,
Clinical Operations at Bioverativ, a Sanofi Genzyme company. During
her tenure at Bioverativ, Ms. Gallant was responsible for leading
the company’s clinical operations and providing strategic direction
for its rare blood disease portfolios across multiple indications
from development to commercialization to post market access.
Earlier in her career, she held clinical operations and trial
manager positions at EMD Serono, the healthcare business of Merck
KGaA, Sunovion Pharmaceuticals, Genzyme Corporation, and Stryker
Biotech. Ms. Gallant holds a B.S. in Medical Biology from the
University of New England.
Ms. Gallant stated: “I am excited to join Enveric at a pivotal
time for the company as we plan to soon advance EB-373 into the
clinic for the treatment of anxiety disorders. I look forward to
working with Enveric’s leadership and R&D teams as we seek to
transform the lives of patients living with mental illness by
developing novel treatments that open new pathways to target
impaired neural circuitry, with the overarching goal of improving
brain health.”
The Company granted restricted stock units (“RSUs”) convertible
into an aggregate of 10,000 shares to Ms. Gallant, to become
employed by the Company as Vice President, effective as of February
22, 2023, as an inducement award outside of the Company’s 2020
Long-Term Incentive Plan. Subject to certain exceptions including
change in control or termination of employment, the awarded RSUs
shall vest in four equal installments on each of the first four
anniversaries of the date of grant. The grant was approved by the
board of directors of the Company and made as an inducement
material to Ms. Gallant entering into employment with the Company
in accordance with NASDAQ Listing Rule 5635(c)(4).
About EB-373
Enveric’s lead drug candidate, EB-373, is next generation
synthetic psilocybin analogue developed leveraging its Psybrary™
drug discovery platform. Enveric selected EB-373 from its EVM200
Series targeting novel and innovative treatments for anxiety
disorders. In preclinical studies, EB-373 show positive serotonin
5-HT2A receptor stimulation in vivo, based on induction of the
characteristic Head Twitch Response (HTR) behavioral marker in
healthy mice. And in an animal behavioral model of anxiety, the
Marble Burying Test, the compound exhibited anxiolytic benefit in
chronically stressed mice.
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 psilocybin analogues that are considered
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 third
generation of therapeutics, the EVM301 Series, to offer a holistic
approach for treating central nervous system disorders. 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 consist of not
purely historical statements, 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 of Enveric to successfully spin-off its cannabinoid assets;
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 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/20230222006096/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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