Enveric Biosciences Nabs U.S. Patent For Novel Psilocybin Derivatives, Details Here
Portfolio Pulse from Lara Goldstein
Enveric Biosciences (NASDAQ:ENVB) has been granted a new patent by the U.S. Patent and Trademark Office (USPTO) for the novel composition of matter and methods of use on the psilocybin-based molecules series EVM301. The patent provides Enveric with IP rights for novel compositions and pharmaceutical drug formulations for a family of carboxylated derivatives of tryptamine-based drug candidates. The company expects the patent to add value to its EVM301 compounds series, currently undergoing lead optimization and preclinical characterization.
September 21, 2023 | 4:00 am
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Enveric Biosciences has been granted a new patent for the novel composition of matter and methods of use on the psilocybin-based molecules series EVM301. This is expected to add value to its EVM301 compounds series, currently undergoing lead optimization and preclinical characterization.
The granting of a new patent to Enveric Biosciences for its psilocybin-based molecules series EVM301 is a significant development for the company. This patent provides the company with exclusive rights to the novel compositions and pharmaceutical drug formulations for a family of carboxylated derivatives of tryptamine-based drug candidates. This is expected to add value to its EVM301 compounds series, which is currently undergoing lead optimization and preclinical characterization. This development could potentially increase the company's market value and attract more investors, leading to a positive impact on its stock price in the short term.
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