Enveric Biosciences Expands Portfolio of Drug Development Candidates and Files New Provisional Patent Application

NAPLES, Fla., March 29, 2022 /PRNewswire/ - Enveric Biosciences (NASDAQ: ENVB) ("Enveric" or the "Company"), a neuroscience company developing next-generation, psychedelic-inspired mental health medicines, announces the filing of a provisional patent application based on new discoveries by the Company.  

The application describes more than 100 novel individual molecules and, if the broadest claims are allowed, could protect more than 10,000 possible new drug development candidates.  The patent application and claimed drug candidates fall into the Company's EVM201 second-generation, psychedelic-derived drug development program, with an initial target indication of cancer-related distress (CRD) and the potential to be expanded into additional mental health indications.

Dr. Peter Facchini, Ph.D., Chief Innovation Officer at Enveric, noted, "Our proprietary PsyAI™ artificial intelligence technology was used to design and provisionally rank a large and diverse collection of psychedelic-inspired molecules for further development. The majority of these new molecules, all of which are protected by this most recent provisional patent application, have already been synthesized in quantities sufficient to evaluate their safety and pharmacological properties, including receptor-binding profiles and behavioral analyses in animals. Based on our extensive in silico and experimental data, we are hopeful that we can nominate our lead candidates for entry into Enveric's EVM201 preclinical development later this year."

About Cancer Related Distress
The aim of palliative care for patients with cancer is to alleviate suffering.¹ Patients facing life-threatening illness often feel hopeless, powerless, and demoralized.¹ They suffer clinically significant anxiety and depression, and the resulting existential distress can lead to a loss of meaning or purpose in life and a desire for hastened death.¹  As many as 1 in 2 patients with cancer experience significant psychological distress, collectively referred to as Cancer Related Distress (CRD).²  Available treatments for psychological distress have had limited efficacy in patients with cancer. ¹ Psychedelic-assisted therapy has recently shown exceptional promise in helping to alleviate the psychological and existential burdens, including CRD, that many patients with life-threatening illnesses face every day.¹

References:

1. Rosenbaum D, Boyle AB, Rosenblum AM, Ziai S, Chasen MR. Psychedelics for psychological and existential distress in palliative and cancer care. Curr Oncol. 2019;26(4):225-226. Doi: 10.3747/co.26.5009
2. Mehnert S, Hartung TJ, Friedrich M, et al. one in two cancer patients is significantly distressed: prevalence and indicators of distress. Psycho-Oncology. 2018;27(1):75-82. Doi: 10.1002/pon.4464

About Enveric Biosciences
Enveric Biosciences (NASDAQ: ENVB) is a cutting-edge neuroscience company developing next-generation psychedelic-inspired mental health medicines. Enveric's robust pipeline supports drug development from the clinic to commercialization for millions of patients in need around the world suffering from conditions that include cancer-related distress, PTSD, and more. 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 statements that are not purely historical, 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 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 the Company'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.

SOURCE Enveric Biosciences