Enveric Biosciences Receives Notice of Allowance from USPTO for Development of C4-Carbonothioate-substituted Tryptamine Derivatives for Novel Prodrug of Psilocin

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.”