Enveric Biosciences Receives Notice of Allowance from USPTO for Development of C4-Carbonothioate-substituted Tryptamine Derivatives for Novel Prodrug of Psilocin
31 October 2023 - 11:00PM
Business Wire
Expands its intellectual property portfolio
with composition of matter claims governing lead clinical
candidate, EB-373, a psilocin prodrug being developed for the
treatment of depression and anxiety disorders.
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 that
it has received a Notice of Allowance (NoA) from the United States
Patent and Trademark Office (USPTO) for a patent application
involving EB-373, the Company’s new chemical entity (NCE) prodrug
of psilocin.
The soon-to-issue patent, titled, “C4-Carbonothioate-substituted
Tryptamine Derivatives and Methods of Using,” contains composition
of matter claims for a family of novel prodrug derivatives of
psilocin, including EB-373, Enveric’s lead product candidate. The
USPTO issues an NoA after making the determination that a patent
should be granted from an application.
Enveric has filed multiple composition of matter patent
applications with the USPTO for psilocin prodrugs, including those
comprising a crystalline molecular structure, and has submitted
additional filings for companion Patent Cooperation Treaty and
non-US national patent applications in an effort to obtain broad
protections in target countries for its EVM201 and EVM301 Series of
compounds. To date, the USPTO has issued seven NoAs for patent
applications claiming compounds in the EVM201 and EVM301 Series.
Two applications are now granted patents that specifically protect
EB-373; and one application is now a granted patent covering
certain EVM301 compounds. We believe the Company is establishing a
robust intellectual property position that protects the Company’s
lead compounds through this growing portfolio of allowed patent
applications and patents.
“Extensive and multilayered IP for our NCE compounds is an
important value driver for Enveric as we seek to develop improved
treatments for patients living with severe and difficult to treat
mental health disorders,” said Joseph Tucker, Ph.D., Director and
CEO of Enveric. “This recent positive decision from the USPTO
strengthens the IP for our lead candidate, EB-373, and highlights
the advanced molecular design capabilities of our research team in
developing unique and novel psilocin prodrugs. We look forward to
bringing EB-373 to clinical trials soon to assess the potential of
this compound to elicit a more rapid onset of action, more
controlled therapeutic effect, and reduced gastrointestinal
side-effects compared to conventional psilocin prodrugs, such as
psilocybin.”
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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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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