Enveric Biosciences Identifies Neuroplastogen Candidates with Potential to Address Neurodegenerative Disease

Enveric files provisional patent application on newly identified group of molecules

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 psychiatric and neurological disorders, today announced that it has filed a new provisional patent application with claims to methods and pharmaceutical formulations for use on a family of molecules discovered to offer potential to address neurodegenerative disease. If confirmed through further testing, the potential of this newly identified group of molecules expands the market potential for Enveric drug candidates in a new direction.

Neurodegenerative diseases are a heterogenous group of progressive neurological disorders characterized by the gradual loss of neurons, leading to a decline in cognitive, motor and other neurological functions. It has been estimated by the World Health Organization (WHO) that approximately 50 million people worldwide are affected by neurodegenerative diseases, with seven million in the United States.

Broad claims in the patent application describe a group of molecules that enhance brain derived neurotrophic factor (“BDNF”) activity and address conditions where the BDNF/TrKB pathway plays a major role. BDNF and its receptor TrKB support neuroprotection and adult neurogenesis and enhance myelination by increasing the density of oligodendrocyte progenitor cells. While additional pre-clinical testing is needed to confirm the enhancement of BDNF activation, preliminary studies have revealed promotion of neuronal development in a cell-based assay.

“Based on our team’s research, future molecules that emerge from this family could represent therapeutic candidates to develop for Alzheimer’s Disease and other neurodegenerative diseases,” said Joseph Tucker, Ph.D., CEO and Director of Enveric. "In addition to the potential to promote BDNF signaling, an established therapeutic target in neurodegenerative diseases, a prototype molecule from the family has been tested in vivo and revealed encouraging pharmaceutical and pharmacokinetic (PK) characteristics.”

The preliminary PK profile suggests that the orally delivered compound effectively enters the bloodstream, penetrates the brain, and is subsequently and rapidly cleared from plasma. Further, this molecule did not display 5HT2B receptor activation, which would have been an indicator of cardiovascular risk potential.

“Based on the discovery and characterization work done to date, we believe further investigation of this family of molecules is warranted,” said Dr. Tucker.

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 psychiatric and neurological disorders. Leveraging its unique discovery and development platform Psybrary™, which houses proprietary information on the use and development of existing and novel molecules for specific mental health indications, Enveric seeks to develop a robust intellectual property portfolio of novel drug candidates. Enveric’s lead molecule, EB-003, is a potential first-in-class neuroplastogen designed to promote neuroplasticity, without inducing hallucinations, in patients suffering from difficult-to-address mental health disorders. Enveric is focused on advancing EB-003 towards clinical trials for the treatment of neuropsychiatric disorders while out-licensing other novel, patented Psybrary™ platform drug candidates to third-party licensees advancing non-competitive market strategies for patient care. Enveric is headquartered in Naples, FL with offices in Cambridge, MA and Calgary, AB Canada. For more information, please visit www.enveric.com.

Forward-Looking Statements

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