Enveric Biosciences Announces New Patent Issuances Protecting Multiple Assets Covered by Non-Binding Term Sheets

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, on March 5, 2024, the United States Patent and Trademark Office issued U.S. Patent No. 11,918,594, titled “Multi-Substituent Psilocybin Derivatives” and is further expected to issue, on March 19, 2024, U.S. Patent No. 11,931,338, titled “Nitrilated Psilocybin Derivatives”.

The newly issued patent and soon to be issued patent provide composition of matter claim coverage on numerous potential drug candidates not previously publicly disclosed by Enveric, as well as to six compounds subject to the three recently announced Non-Binding Term Sheets that Enveric entered into with an undisclosed biotechnology company.

“The new patent and soon-to-issue patent expand our patent portfolio and strengthen the opportunity presented to our current and future partners and licensees. They also highlight the breadth of the available patent coverage for other molecules available for licensing in the Company’s Psybrary^TM collections of licensable portfolios,” said Joseph Tucker, Ph.D., Director and CEO of Enveric. “These developments further demonstrate and validate the value of opportunities presented by Enveric to potential licensees seeking to develop novel chemical entities into proprietary, patent protected products intended to address mental health disorders affecting millions of people globally.”

While inviting drug development of its Psybrary^TM collection of compounds by others with the potential of significant financial return, Enveric continues to focus on advancing its own lead programs, EB-002 and EB-003, to develop therapeutics for the treatment of specific mental health disorders and to maximize the impact of its investments.

About Enveric Biosciences

Enveric Biosciences (NASDAQ: ENVB) is a biotechnology company dedicated to the development of novel neuroplastogenic small-molecule therapeutics for the treatment of depression, anxiety, and addiction disorders. Leveraging its unique discovery and development platform, Psybrary, Enveric has created a robust intellectual property portfolio of New Chemical Entities for specific mental health indications. Enveric’s lead program, EB-003, is a first-in-class approach to the treatment of difficult-to-address mental health disorders designed to promote neuroplasticity without inducing hallucinations in the patient. Enveric is also developing EB-002, formerly EB-373, a next generation synthetic prodrug of the active metabolite, psilocin, being studied as a treatment of psychiatric disorders. Enveric is headquartered in Naples, FL with offices in Cambridge, MA and Calgary, AB Canada. For more information, please visit www.enveric.com.