Business
Enveric Biosciences Signs Definitive Agreement to Acquire Exclusive License for Novel Molecules from Diverse Biotech
- License has the Potential to Expand Enveric's Planned Capabilities to Address Cancer Treatment Side Effects - - Innovative Conjugation Platform Aims to
About this update from Enveric Biosciences, Inc.
[{"type":"text","content":"- License has the Potential to Expand Enveric's Planned Capabilities to Address Cancer Treatment Side Effects -\n - Innovative Conjugation Platform Aims to Provide Superior Therapeutic Outcomes for Patients by Leveraging Cannabinoids to Improve the Standard of Care and Reduce Side Effects Associated with Cancer Treatments -\n\n\nNAPLES, Fla., March 10, 2021 /PRNewswire/ -- Enveric Biosciences (NASDAQ: ENVB) (\"Enveric\" or the \"Company\"), a patient-first biotechnology company developing novel cannabinoid medicines to improve quality of life for cancer patients, announced today that it has acquired an exclusive, perpetual license from Diverse Biotech, a biopharmaceutical company focused on developing new molecules for treating oncology and other debilitating diseases. Enveric plans to research and develop these new drugs with the goal of alleviating the side effects that cancer patients experience. Through the conjugation of cannabidiol (CBD) with existing, standard-of-care drugs via Diverse Biotech's patented, advanced chemistry drug delivery platform, Enveric intends to expand its pipeline of development candidates that seek to deliver superior therapeutic outcomes for patients. \n\"This exclusive licensing agreement with Enveric aims to expand our CBD conjugate platform into oncology supportive care indications for the first time,\" said Brian Longstreet, Interim CEO, Diverse Biotech. \"We believe that our collaboration has the potential to advance this science more efficiently, ultimately bringing therapies to market faster to help serve unmet medical needs in this large patient population.\" \nAs part of the agreement, Enveric will add to the Company's list of target indications by obtaining five molecules, four of which are dermatology-focused and one that is pain-focused. Enveric will also gain access to Diverse Biotech's scientists and formulators to help synthesize and validate these drugs, as the company moves through pre-clinical and clinical activities. \n\"This is an exclusive, novel way of bringing together CBD and well-known, existing compounds that hold promise to create a new, improved drug class,\" added David Johnson, Chairman and CEO, Enveric Biosciences. \"As a patient-centric company, Enveric is constantly looking for new ways to eliminate or minimize cancer treatment side effects for patients in need. Wit...