Enveric Biosciences Completes Manufacturing of Proprietary Psilocin Prodrug

Enveric Biosciences (Nasdaq: ENVB) has completed manufacturing of drug material enabling the completion of preclinical work for EB-373, the company’s lead drug candidate, designed as a next-generation proprietary psilocin prodrug.

The company expects to complete all remaining preclinical studies required for Human Research Ethics Committee (HREC) submission in Australia before year-end 2023.

Joseph Tucker, Ph.D., Director and CEO of Enveric, said, “We are excited to highlight the extremely high-quality formulation and manufacturing work of our team and partners as we take the final steps required to bring EB-373 into initial clinical trials. By eliminating the restrictive requirements of handling and shipping controlled substances, our research teams and partners will be able to work more efficiently, saving Enveric time and costs both now and in our future clinical trials.”

Highlights

EB-373 has been developed leveraging the company’s Psybrary™ drug discovery platform to target anxiety disorders.

Enveric plans to immediately commence remaining GLP studies to provide critical data required to initiate human trials for EB-373.

Enveric and its contract development and manufacturing organization partner worked together to optimize and scale up the manufacturing process for EB-373, successfully producing sub-kilogram amounts of the EB-373 salt form with 99% purity.

As a result of this high purity product, Enveric and its research partners will be able to handle and ship EB-373 without restrictive limitations required for controlled substances.

Enveric’s lead drug candidate, EB-373, is a New Chemical Entity (NCE), designed as a next-generation proprietary psilocin prodrug and developed leveraging the company’s Psybrary™ drug discovery platform to target anxiety disorders.

About Enveric Biosciences

Enveric Biosciences (NASDAQ: ENVB) is a biotechnology company dedicated to the development of novel neuroplastogenic small-molecule therapeutics targeting neuronal atrophy 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 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 second program, the EVM301 Series, to offer a first-in-class, new approach to the treatment of difficult-to-address mental health disorders, mediated by the promotion of neuroplasticity without also inducing hallucinations in the patient. Enveric is headquartered in Naples, FL with offices in Cambridge, MA and Calgary, AB Canada. For more information, please visit www.enveric.com.

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Enveric Biosciences Completes Manufacturing of Proprietary Psilocin Prodrug

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