Enveric Biosciences to out-license psilocin prodrug to MindBio
License out/in
Preview
Source: Pharmaceutical Technology
MindBio will develop a drug candidate from the licensed NPP class for neuropsychiatric conditions such as depression. Credit: Stock-Asso / Shutterstock.com.
Enveric Biosciences has entered a non-binding term sheet with MindBio Therapeutics for the out-licensing of a class of psilocin prodrugs (NPP) aimed at treating mental health disorders.
The library of NPP compounds of Enveric comprises molecules with enhanced gastrointestinal stability and absorption, and variable pharmacokinetic properties due to cleavable substitutions.
MindBio will develop a drug candidate from the licensed NPP class for neuropsychiatric conditions such as depression.
Upon finalising a definitive agreement, the company would gain an exclusive global licence for the drugs, formulations, methods of usage and devices developed to use the compound from Enveric.
See Also:AB-2100 by Arsenal Biosciences for Metastatic Renal Cell Carcinoma: Likelihood of Approval
Preview
Source: Pharmaceutical Technology
FB-102 by Forte Biosciences for Alopecia Areata: Likelihood of Approval
Preview
Source: Pharmaceutical Technology
MindBio would also take over all the preclinical, clinical and commercial development responsibilities for both human and animal pharmaceutical applications on a royalty-bearing basis.
The deal also includes rights for sublicensing and options for a cash buyout.
MindBio Therapeutics CEO Justin Hanka stated: “We are pleased to explore an opportunity to draw on the molecular discovery engine at Enveric and believe this novel and patented asset significantly strengthens our intellectual property pipeline and aligns with our strategy to develop innovative, protected compounds with fine-tuned formulation and dosing strategies.
“We look forward to the prospect of progressing this asset into clinical trials as we seek to bring important and beneficial therapies to patients in need.”
In December 2023, Enveric selected EB-003 as the lead drug candidate from its EVM301 series for difficult-to-treat mental health disorders.
For more details,please visit the original website
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Targets
-Hot reports
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Leverages most recent intelligence information, enabling fullest potential.