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.