Enveric Biosciences Receives Notice of Allowance for EVM301 Series of Drug Candidates

Key Terms

notice of allowance regulatory

A notice of allowance is an official confirmation from a patent office that a patent application has met all necessary requirements and is approved for granting. It signals that the invention is likely to receive legal protection soon, which can be important for investors considering the value and exclusivity of a new product or technology. Think of it as a green light indicating that the invention is on track to become legally protected.

Once issued, this new U.S. Patent will expand the scope of Enveric’s EVM301 patent portfolio of potential neuroplastogenic molecules for treatment of neuropsychiatric conditions.

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Enveric Biosciences (NASDAQ: ENVB) (“Enveric” or the “Company”), a biotechnology company advancing novel neuroplastogenic small-molecule therapeutics to address psychiatric and neurological disorders, today announced that it has received a Notice of Allowance from the United States Patent and Trademark Office (“USPTO”) for a patent application pertaining to its EVM301 Series of molecules being developed as potential treatments for mental health disorders.

The USPTO issues a Notice of Allowance after making the determination that a patent should be granted from an application.

Entitled, “N-heterocycle substituted tryptamine derivatives and methods of using,” the application will add to the portfolio of patents issued for Enveric’s EVM301 Series of molecules. The compositions claims and methods of use claims covered by this patent will further broaden Enveric’s pipeline by covering additional potential neuroplastogenic non-hallucinogenic molecules and strengthening its potential to target neuropsychiatric and addiction disorders for patients with few other options.

“We continue to work diligently to reinforce our patent estate around our lead asset, EB-003 and the EVM301 Series of compounds, which we see as vital in order to generate value for Enveric shareholders,” said Joseph Tucker, Ph.D., Director and CEO of Enveric. “We believe EB-003 holds great potential as the first known compound designed to selectively engage both 5-HT₂_A and 5-HT₁_B receptors to deliver fast-acting, durable antidepressant and anxiolytic effects, while being specifically designed to promote neuroplasticity and minimize hallucinogenic effects, allowing administration in outpatient setting."

About Enveric Biosciences

Enveric Biosciences (NASDAQ: ENVB) is a biotechnology company focused on developing next-generation, small-molecule neuroplastogenic therapeutics that address unmet needs in psychiatric and neurological disorders. By leveraging a differentiated drug discovery platform and a growing library of protected chemical structures, Enveric is advancing a pipeline of novel compounds designed to promote neuroplasticity without hallucinogenic effects. Enveric’s lead candidate, EB-003, is the first known compound designed to selectively engage both 5-HT₂_A and 5-HT₁_B receptors to deliver fast-acting, durable antidepressant and anxiolytic effects with outpatient convenience.

For more information, please visit www.enveric.com.

Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as "plans," "expects" or "does not expect," "proposes," "budgets," "explores," "schedules," "seeks," “sees,” "estimates," "forecasts," "intends," "anticipates" or "does not anticipate," or "believes," or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, should, would, or might occur or be achieved. Forward-looking statements may include statements regarding beliefs, plans, expectations, or intentions regarding the future and are based on the beliefs of management as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including, but not limited to, the ability of Enveric to: finalize and submit its IND filing to the U.S. Food and Drug Administration; carry out successful clinical programs; achieve the value creation contemplated by technical developments; avoid delays in planned clinical trials; establish that potential products are efficacious or safe in preclinical or clinical trials; establish or maintain collaborations for the development of therapeutic candidates; obtain appropriate or necessary governmental approvals to market potential products; obtain future funding for product development and working capital on commercially reasonable terms; scale-up manufacture of product candidates; respond to changes in the size and nature of competitors; hire and retain key executives and scientists; secure and enforce legal rights related to Enveric’s products, including patent protection; identify and pursue alternative routes to capture value from its research and development pipeline assets; continue as a going concern; and manage its future growth effectively.

A discussion of these and other factors, including risks and uncertainties with respect to Enveric, is set forth in Enveric’s filings with the Securities and Exchange Commission, including Enveric’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Enveric disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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Source: Enveric Biosciences