Microdosing For Depression: Psychedelics Biotech Signs $66.5M Non-Binding Deal To Out-License Novel Psilocin Prodrug Candidate

Benzinga · May 14, 2024 20:00

Psychedelics biotech firm,Enveric Biosciences(NASDAQ:ENVB)has signed a non-binding term sheet to out-license a class of Novel Psilocin Prodrugs(NPP)to Vancouver, British Columbia-basedbiopharma company MindBio Therapeutics CorpCSE: MBIO, which is pioneering novel treatments for psychiatric conditions using microdoses of psychedelic medicines.

The news comes on the heels of Enveric entering into a non-binding term sheet with an undisclosed biotech company (licensee) for an exclusive license to two patented methods aimed at treating breast cancer and other cancers.

Enveric's NPP molecules are designed to be metabolized specifically to release therapeutic levels...

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Microdosing For Depression: Psychedelics Biotech Signs $66.5M Non-Binding Deal To Out-License Novel Psilocin Prodrug Candidate

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