Enveric Biosciences receives second patent allowance for PTSD drug

CAMBRIDGE, Mass. - Enveric Biosciences (NASDAQ:ENVB) announced Wednesday it has received a second Notice of Allowance from the United States Patent and Trademark Office for compounds in its EVM401 Series, expanding its intellectual property portfolio for mental health disorder treatments. The company, which InvestingPro data shows has seen an impressive 12% return over the past week, appears undervalued according to Fair Value analysis.

The allowed patent application covers methylone-inspired compounds engineered as non-hallucinogenic modulators of neurotransmitters relevant for neuropsychiatric disorders, particularly post-traumatic stress disorder (PTSD).

These compounds share pharmacophoric elements with methylone, an MDMA analog recently associated with positive Phase 2 results for PTSD treatment, but feature novel chemical structures that provide patent protection. Unlike methylone, which lacks composition of matter patent exclusivity due to its structure being in the public domain, Enveric’s differentiated benzodioxole analogs offer proprietary protection.

"With this second patent allowance for the EVM401 Series, Enveric continues to strengthen its position as a first-in-class developer of neuroplastogenic small-molecule therapeutics," said Joseph Tucker, CEO of Enveric, according to the company’s press release. Get deeper insights into Enveric’s financial health and growth potential with InvestingPro, which offers 12 additional exclusive ProTips and comprehensive financial metrics.

The company indicated further preclinical testing will be required to evaluate safety, pharmacokinetics, and functional activity against PTSD and other psychiatric endpoints before advancing to clinical trials.

Enveric’s lead molecule, EB-003, is designed to promote neuroplasticity without inducing hallucinations in patients with difficult-to-address mental health disorders. The company’s drug development is based on its proprietary Psybrary platform, which houses information on the use and development of molecules for specific mental health indications.

The information is based on a press release statement from the company.

In other recent news, Enveric Biosciences has reported several noteworthy developments. The company’s experimental drug, EB-003, demonstrated promising results in a preclinical study for post-traumatic stress disorder (PTSD), showing a significant reduction in fear responses in mice. Additionally, Enveric announced that EB-003 exhibits activity as an agonist of the serotonin receptor 5-HT1B, which is a known target for various neurological conditions. Furthermore, the company secured a U.S. patent for novel compounds that may benefit sleep and central nervous system disorders, focusing on their interaction with the melatonin MT1 receptor. In another study, EB-003 showed positive outcomes in a depression model, with mice displaying reduced depression-like behavior. Enveric has also filed a provisional patent for new molecules with potential therapeutic applications in neurodegenerative diseases, highlighting their possible role in enhancing brain-derived neurotrophic factor activity. These developments reflect Enveric’s ongoing efforts in advancing treatments for psychiatric and neurological conditions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.