ENVB - EXCLUSIVE: Enveric Biosciences Announces Non-Binding Deals To License Out Three Types of Drug Compounds | Benzinga
Enveric Biosciences (NASDAQ:ENVB), a Florida-headquartered biotech company developing novel neuroplasticity-promoting small molecule therapeutics for depression, anxiety and addiction disorders treatment has signed three non-binding term sheets with another (undisclosed) biotechnology company toward the out-licensing of three classes of compounds.
The three term sheets contemplate that the undisclosed licensee would receive exclusive, royalty-bearing global licenses to develop and sublicense the assets, along with cash buyout options and future option rights to substantially related assets in the Enveric portfolio. The licensee would assume responsibility for all future preclinical and clinical development for all human and/or animal pharmaceutical applications.
The compounds are sourced from Enveric's drug portfolio, consisting of over 1,000 novel molecules targeting specific mental health indications. These new chemical entities have been generated using its discovery and development platform ("Psybrary,") along with proprietary computational chemistry and AI ...