EXCLUSIVE: Enveric Biosciences Announces Non-Binding Deals To License Out Three Types of Drug Compounds
Portfolio Pulse from Lara Goldstein
Enveric Biosciences (NASDAQ:ENVB) has signed three non-binding term sheets with an undisclosed biotech company for the out-licensing of three classes of compounds from its drug portfolio for mental health treatments. These agreements include exclusive, royalty-bearing global licenses, cash buyout options, and future rights to related assets. The compounds, part of Enveric's over 1,000 novel molecules, are aimed at treating depression, anxiety, and addiction disorders. The potential licensing deals could bring Enveric up to $200 million in milestone payments and fees, plus royalties ranging from 2.5% to 10% on future sales.
February 29, 2024 | 11:35 am
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Enveric Biosciences has entered into non-binding agreements for the out-licensing of three compound classes, potentially leading to significant revenue through milestone payments and royalties.
The non-binding agreements for the out-licensing of three compound classes from Enveric Biosciences' portfolio represent a significant step towards monetizing its research and development efforts. The potential for up to $200 million in milestone payments and fees, along with royalties on future sales, could provide a substantial financial boost to the company. This news is likely to be viewed positively by investors, as it not only validates Enveric's drug discovery and development capabilities but also opens up a new revenue stream. The impact on the stock price is likely to be positive in the short term, as the market reacts to the potential for future revenue and the progress in the company's licensing efforts.
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IMPORTANCE 90
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