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Enveric Biosciences Receives Notice of Allowance from USPTO for Development of Glycosylated Psilocybin Derivatives
Expands intellectual property portfolio with composition of matter and methods of use claims governing Enveric’s EVM301 Series of drug candidates CAMBRIDGE,
About this update from Enveric Biosciences, Inc.
[{"type":"text","content":"\nExpands intellectual property portfolio with composition of matter and methods of use claims governing Enveric’s EVM301 Series of drug candidates\n\n\n CAMBRIDGE, Mass.--(BUSINESS WIRE)--\nEnveric 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 from the United States Patent and Trademark Office (USPTO) for a patent application pertaining to its EVM301 Series of molecules being developed as potential treatments for mental health disorders.\n\n\nThe soon-to-issue patent titled, “Glycosylated Psilocybin Derivatives and Methods of Using,” contains composition of matter and methods of use claims for a family of novel prodrug derivatives of glycosylated psilocybin. Enveric is progressing its EVM301 Series of compounds through lead generation and candidate characterization efforts as it aims to develop compounds that engage the serotonin 5HT2a receptor and other neurotransmitter receptors to promote neuroplasticity. The USPTO issues a Notice of Allowance after making the determination that a patent should be granted from an application.\n\n\n“Extensive and multilayered intellectual property for our novel 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 adds to the intellectual property for our EVM301 Series of molecules. These molecules have the potential to change the paradigm of treatment of depression and anxiety disorders. The clinical objective for this class of molecules is to generate therapeutic benefit without inducing the hallmark hallucinations associated with most psychedelic and psychedelic-inspired molecules. If the Company is successful in this effort, it could permit these molecules to be administered without requiring a healthcare professional to be present during treatment. When compared to the market of first-generation psychedelics under development, Enveric believes this new paradigm would significantly enhance the commercial potential for its EVM301 Se...