Enveric Biosciences is a biotechnology company “developing a next-generation mental health and oncology treatment clinical discovery platform” for naturally occurring and synthetic compounds to be used in palliative care. Its psychedelic- and cannabinoid-based drugs target unmet medical needs such as skin conditions commonly experienced by cancer patients.
The company’s engagement in research, development, and commercialization is achieved through existing and planned partnerships with institutions, clinics, and other biotech companies. As of October 2021, Enveric’s partners include the University of Calgary, Soroka University Medical Center, and St. George’s University of London.
Enveric uses PsyAI, an artificial intelligence program, to efficiently identify viable psychedelic pharmaceutical candidates from a “Psybrary” of compounds — a library of psychedelic derivative compounds developed by MagicMed at its University of Calgary laboratory. Enveric obtained the Psybrary through its May 2021 acquisition of MagicMed, marking an expansion from cannabinoid drug development into psychedelics. According to a press release, the acquisition included “13 patent applications filed for derivatives of psilocybin and DMT, two patent applications filed for derivatives of mescaline and MDMA with further intellectual property protection for mescaline, MDMA, ibogaine, and LSD in-process” at the time of closing.
Enveric’s IP portfolio includes several patents and patent applications pertaining to the use of cannabidiol (CBD) and CBD in combination with other cancer treatments. Its formulations combining cannabinoids with chemo- and immunotherapy medicinal compounds aim to improve treatment efficacy and duration. They also enable lower doses, therefore decreasing unwanted side effects. The company has initiated trials assessing the safety and efficacy of its lead synthetic cannabidiol product, EV101. EV101 targets glioblastoma, a cancer of the brain and/or spinal cord.