Enveric Biosciences Pursuing Exclusive Out-Licensing of New Chemical Entities for Joint Disease

March 19, 2024

DENVER, Colo., Mar 19, 2024 (247marketnews.com)- Enveric Biosciences (NASDAQ:ENVB) stated, this morning, that it signed two non-binding term sheets to pursue the out-licensing of cannabinoid-COX-2 conjugate compounds for both pharmaceutical and non-pharmaceutical applications for treatment of joint diseases, with an undisclosed company.

“We are pleased to announce that a second biotechnology company has stepped forward looking to join Enveric in moving some of the Company’s promising assets forward,” said Joseph Tucker, Ph.D., Director and CEO of Enveric. “We look forward to working with our partner, and we are confident in their leadership and capabilities to continue the development of these compounds for both pharmaceutical and non-pharmaceutical applications to advance joint disease treatment options for patients. Ultimately, we believe the definitive licensing agreements, once negotiated and finalized, could represent an excellent potential source of revenue for Enveric, and continue to demonstrate the value of Enveric’s extensive portfolio of assets.”

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