ENVB - Microdosing For Depression: Psychedelics Biotech Signs $66.5M Non-Binding Deal To Out-License Novel Psilocin Prodrug Candidate | Benzinga
Psychedelics biotech firm, Enveric Biosciences (NASDAQ:ENVB) has signed a non-binding term sheet to out-license a class of Novel Psilocin Prodrugs (NPP) to Vancouver, British Columbia-based biopharma company MindBio Therapeutics Corp CSE: MBIO, which is pioneering novel treatments for psychiatric conditions using microdoses of psychedelic medicines.
The news comes on the heels of Enveric entering into a non-binding term sheet with an undisclosed biotech company (licensee) for an exclusive license to two patented methods aimed at treating breast cancer and other cancers.
Enveric's NPP molecules are designed to be metabolized specifically to release therapeutic levels of systemic psilocin at varying rates. The company has generated a library of NPP compounds protected by an issued US patent and further claimed in two pending US patent applications and three international PCT patent applications. The library of NPP compounds includes molecules with varying properties such as enhanced gastrointestinal (GI) stability, increased absorption properties, and variable cleavable substitutions producing altered pharmacokinetic properties.
"We look forward to working with ...