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Enveric Biosciences Signs Out-Licensing Agreement with MycoMedica Life Sciences for EB-002
Enveric Biosciences (NASDAQ: ENVB)has signed a licensing agreement with MycoMedica Life Sciences for its EVM201 program, including drug candidate EB-002, a synthetic prodrug for treating neuropsychiatric disorders. The agreement includes potential milestone payments up to $62 million plus tiered single-digit royalties on future sales. MycoMedica receives exclusive global rights and will assume responsibility for all development phases. This strategic move allows Enveric to focus on advancing EB-003, their novel non-hallucinogenic neuroplastogen drug candidate, while maintaining potential future revenue streams from EB-002. The company plans to file an Investigational New Drug application for EB-003 in 2025.
Enveric Biosciences (NASDAQ: ENVB)has signed a licensing agreement with MycoMedica Life Sciences for its EVM201 program, including drug candidate EB-002, a synthetic prodrug for treating neuropsychiatric disorders. The agreement includes potential milestone payments up to $62 million plus tiered single-digit royalties on future sales. MycoMedica receives exclusive global rights and will assume responsibility for all development phases. This strategic move allows Enveric to focus on advancing EB-003, their novel non-hallucinogenic neuroplastogen drug candidate, while maintaining potential future revenue streams from EB-002. The company plans to file an Investigational New Drug application for EB-003 in 2025.
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