Enveric Biosciences Celebrates and Supports 2023 Mental Health Awareness Month

By: Enveric Biosciences, Inc. via Business Wire

May 02, 2023 at 07:30 AM EDT

Enveric is advancing EB-373, a psilocin prodrug for anxiety disorders and its EVM301 Series of novel non-hallucinatory brain plastogens to treat mental health disorders.

Enveric Biosciences, Inc. (NASDAQ: ENVB) (“Enveric” or the “Company”), a biotechnology company dedicated to the development of novel small-molecule therapeutics for the treatment of anxiety, depression, and addiction disorders, today announced its support of Mental Health Awareness Month this May as the company advances its novel development programs to improve the treatment of mental health disorders.

Anxiety disorders continue to be a large unmet need, affecting approximately 40 million adults in the U.S., around 19.1% of the population every year, according to the Anxiety & Depression Association of America.¹ Anxiety disorders including generalized anxiety, panic disorder, social anxiety disorder, and phobias affect people in a wide variety of ways, and can be debilitating, chronic, and severely harmful to their quality of life. Enveric is developing therapies that target the underlying biology of mental health conditions, with a focus on reducing symptoms and improving patients' overall well-being.

Enveric’s lead development candidate for the treatment of anxiety disorders, EB-373, is a proprietary psilocin prodrug selected from Enveric’s EVM201 Series and developed leveraging the Company’s Psybrary™ drug discovery platform. Enveric is planning to conduct a multi-cohort, dose-ascending study Phase 1 clinical trial of EB-373 to evaluate the drug’s safety and tolerability. Additionally, Enveric is advancing its next generation EVM301 Series aimed at eliminating the psychedelic experience, reducing safety concerns, improving brain plasticity, and hence offering a novel and holistic approach for treating central nervous system disorders.

“We are proud to join other leaders and organizations in the mental health community to commemorate May as Mental Health Awareness Month,” said Joseph Tucker, Ph.D., Director and CEO of Enveric Biosciences. “Mental health diseases impact millions of people in the United States and around the world, however they often go undiagnosed and mistreated because the symptoms are not as ‘visible’ as other biological diseases. As such, it is important as an industry that we utilize all opportunities to build awareness and capitalize on breakthroughs in drug design and research, including the advancement of psychedelic-derived compounds, to develop better treatments for anxiety disorders and other mental health conditions.”

Reference:

Anxiety & Depression Association of America. Anxiety Disorders - Facts & Statistics. Published October 28, 2022. Accessed April 19, 2023. https://adaa.org/understanding-anxiety/facts-statistics.

About Enveric Biosciences

Enveric Biosciences (NASDAQ: ENVB) is a biotechnology company dedicated to the development of novel small-molecule therapeutics for the treatment of anxiety, depression, and addiction disorders. Leveraging its unique discovery and development platform, The Psybrary™, Enveric has created a robust Intellectual Property portfolio of New Chemical Entities for specific mental health indications. Enveric’s lead program, the EVM201 Series, comprises next generation synthetic psilocybin analogues that are considered prodrugs of the active metabolite, psilocin. Enveric is developing the first product from the EVM201 Series – EB-373 – for the treatment of anxiety disorders. Enveric is also advancing its third generation of therapeutics, the EVM301 Series, to offer a holistic approach for treating central nervous system disorders. 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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