Enveric Biosciences to sell cancer-related patent portfolio, terms undisclosed

Enveric Biosciences announced the company has agreed to sell one of its cancer-related patent portfolios for an undisclosed amount. Enveric plans to continue to focus and invest in the development of its lead candidates EB-003, a first-in-class neuroplastogen designed to eliminate hallucinations, and EB-002, formerly EB-373, a next generation synthetic prodrug of the active metabolite, psilocin. The patents and applications being sold disclose and claim the synergistic combination of cannabidiol and second therapeutic agents for the treatment of cancer. The divested portfolio includes patents issued in the U.S., Australia, Canada, China, Europe, and Japan, with patent applications pending in Canada, Israel, and Korea. Enveric retains no ownership rights in the divested portfolio, any companies owned by, or to be formed by the recipients.