Business
Enveric Biosciences Reports Full-Year 2021 Financial Results and Provides Business Update
NAPLES, Fla., March 31, 2022 /PRNewswire/ - Enveric Biosciences Inc. (NASDAQ: ENVB) ("Enveric" or the "Company"), a neuroscience-focused biotechnology company
About this update from Enveric Biosciences, Inc.
[{"type":"text","content":"NAPLES, Fla., March 31, 2022 /PRNewswire/ - Enveric Biosciences Inc. (NASDAQ: ENVB) (\"Enveric\" or the \"Company\"), a neuroscience-focused biotechnology company developing next-generation, psychedelic-inspired mental health medicines, today reported its financial results for the full year ended December 31, 2021, and provided a business update.\n\"2021 was a foundational year that set the stage for Enveric to execute on its strategy in the future,\" said Dr. Joseph Tucker, Enveric's Chief Executive Officer. \"With the acquisition of MagicMed in September 2021, we immediately began moving forward with the clinical development strategy of our next-generation treatments and therapies for mental health. We find ourselves strategically positioned with an experienced team of industry professionals, collaborative partners including the University of Calgary, a growing intellectual property portfolio, and a robust Central Nervous System pipeline of promising drug candidates. As we build upon the three core pillars of our success, Drug Development, Drug Discovery, and Intellectual Property, we are focused on creating effective mental health medicines.\"\nCorporate Updates During and Subsequent to the Fourth Quarter 2021:\nClinical Trials\nAnnounced collaboration with the University of Calgary on a groundbreaking clinical trial for EVM-201 in cancer-related distress. A clinical trial, expected to launch in 2023, of EVM-201, a second-generation psychedelic treatment, for Cancer Related Distress will be led by HBI researcher, Dr. Valerie Taylor, Head of the Department of Psychiatry, in Calgary, Canada.Announced positive preclinical data for EV102 radiodermatitis drug candidate. EV102 has demonstrated a significant and meaningful reduction in dermatitis severity, skin redness, and duration in a preclinical rodent model.PsyAITM, an artificial intelligence platform, successfully identified viable psychedelic molecules for further drug discovery from Enveric's initial list of 500 psychedelic molecular compounds within its \"Psybrary.\" We believe it is a first of its kind to employ this machine-learning technology against an extensive psychedelic molecule library to evaluate higher-likelihood molecules that treat conditions that include cancer-related distress, PTSD, and other central nervous system (CNS) indications.IP Portfolio\nFiled and p...