Enveric Biosciences Out-Licenses Key Program To MycoMedica In $62M Deal
Enveric Biosciences Inc (NASDAQ:ENVB), a biotechnology company specializing in neuroplastogen therapeutics for mental health conditions, has entered into a licensing agreement with MycoMedica Life Sciences.
Enveric will out-license its EVM201 program, including the drug candidate EB-002 (formerly EB-373), to MycoMedica. The partnership is set to bring forward the development of EB-002, a synthetic prodrug of psilocin for treating neuropsychiatric disorders, including depression.
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Under the terms of the agreement, MycoMedica gains exclusive, global rights to EB-002, including its formulations, usage methods and associated medical devices.
MycoMedica will assume responsibility …