Enveric Biosciences Sells Cannabinoid-Related IP to Focus on Emerging Psychedelic-Inspired Drugs
Enveric Biosciences (“Enveric”) has reportedly now sold one of its portfolios comprised of patents and patent applications for cancer treatment that combines cannabidiol (“CBD”) with additional therapeutic agents to an undisclosed purchaser. The portfolio contains patents issued in the U.S., Australia, Canada, China, Europe and Japan, as well as pending patent applications in Canada, Israel and Korea.
The decision to sell this portfolio stems from the Company’s reported focus on developing “psychedelic-inspired drug technologies that offer the potential to treat severe mental health disorders without the hallucinogenic effect typically associated with psychedelic-based molecules,” such as EB-002 and EB-003.
EB-002 is a synthetic prodrug of psilocin – an inactive compound that develops into an active drug once metabolized through the body. It aims to replicate the effect of psilocin, found in a variety of fungi species, to address treatment-resistant anxiety. According to research on the psilocin prodrug, it has “the potential to maintain the long-term benefits of psilocybin therapy while attenuating the duration of psychedelic effects.”
EB-003 is a neuroplastogen that promotes brain functioning in a manner similar to traditional psychedelics without inducing psychoactive effects such as hallucinations. The company believes EB-003 will be particularly impactful as a “treatment for difficult to address mental health disorders.”
According to the Director and CEO of the Company, Joseph Tucker, Enveric reportedly intends to further its mission by licensing a unique collection of preclinical compounds recently revealed, including psilocybin prodrugs and derivatives and MDMA derivatives, representing a marked growth of its intellectual property portfolio.
Authors: Kasia Donovan and Ayesha Khanna, 2023/2024 Articling Student-At-Law
Authors
Expertise
Insights
-
Intellectual Property
Bacardí Toasts to a Successful Appeal
There has been a new development in a long-standing trademark dispute between Bacardí and the Cuban government entity, Cubaexport, over the "Havana Club" name. Bacardí won its appeal at the US… -
Intellectual Property
Warhol: Landmark Copyright Case Settles
The Andy Warhol Foundation for the Visual Arts has reportedly agreed to settle a copyright infringement proceeding with Lynn Goldsmith over a photograph of Prince that Goldsmith claimed Andy Warhol… -
Intellectual Property
Boeing Lawsuit Blasts Off: Virgin Galactic Accused of Stealing Trade Secrets
Boeing and its subsidiary, Aurora Flight Sciences, are reportedly suing Virgin Galactic, a space tourism start-up, for allegedly misappropriating trade secrets and failing to pay $25 million for work… -
Intellectual Property
All Posts Game, Set, Match: Sony PlayStation Victorious in Patent Infringement Lawsuit
In 2017, Genuine Enabling Technology (“GET”) filed a complaint against the Sony Corporation (“Sony”), which included a claim that Sony infringed one of its patents related to a method of communication… -
Intellectual Property
Goodmans Wins Leading IP Law Firm – IP Patents at the Lexology Awards: North America 2024
We are proud to share Goodmans has won Leading IP Law Firm - IP Patents at the Lexology Awards: North America 2024. These awards celebrate outstanding achievements and world class client… -
Intellectual Property
Protecting Heads and the Ideas Inside: Yamaha’s Augmented Reality Helmet
A Yamaha patent application has been published for a new design of an augmented reality (AR) motorcycle helmet. The design introduces transparent lenses, which aim to combine the power of the AR…