Enveric Biosciences Sells Cancer Patents As It Paves Way For Mental Health Treatments
Enveric Biosciences Inc. has announced the sale of a cancer-related patent portfolio, including patents and pending applications in several countries, focusing on cannabidiol as a treatment for cancer. This move allows the company to concentrate on developing novel neuropathogenic small-molecule therapeutics for mental health disorders, such as depression, anxiety, and addiction. Enveric plans to further advance its candidates EB-003 and EB-002, which target hallucinations and utilize a synthetic prodrug of psilocin. CEO Joseph Tucker expressed confidence in the deal, stating that it will enable Enveric to invest in neuroplastogens for mental health while offering strong patent protection for the undisclosed buyers, who are expected to research and develop cannabidiol-based therapies for specific cancer types.
