Enveric to expand existing manufacturing agreement with CDMO partner for enhanced supply of non-GMP and GMP EB-373 drug substance

Enveric Biosciences (NASDAQ: ENVB) (“Enveric” or the “Company”), a biotechnology company dedicated to the development of novel small-molecule therapeutics for the treatment of anxiety, depression, and addiction disorders, today announced the development of an improved formulation of EB-373 designed to enhance the drug product’s scalability, stability, and delivery for ongoing preclinical studies and planned clinical development. EB-373, Enveric’s lead product candidate, is a new chemical entity (NCE) psilocin prodrug being developed for the treatment of anxiety disorder.

The optimized, Phase 1-ready formulation of EB-373 utilizes a novel salt form that is expected to enable more efficient and scalable manufacturing of drug material. Enveric and its CDMO partner, which specializes in development of psilocin-based active pharmaceutical ingredients (APIs) for large-scale manufacturing, will collaborate on non-GMP manufacturing of sub-kilogram amounts of the EB-373 salt form in the near term, followed by GMP manufacturing in the coming months. The optimized formulation and manufacturing will immediately support the completion of preclinical work and will enable Enveric to fill requirements with the Australian regulatory authorities towards the initiation of clinical trials.

“The work by our team of chemists and our CDMO partner has enabled Enveric to take a key step towards the clinic with the development of an optimized formulation and manufacturing process for EB-373,” said Joseph Tucker, Ph.D., Director and CEO of Enveric. “We now possess a formulation of EB-373 that is ideally suited for the large-scale production that is needed for later-stage clinical trials and eventual commercialization, while maintaining the drug properties that make EB-373 a potentially groundbreaking treatment of anxiety disorder, including the potential for more rapid onset of action, more controlled therapeutic effect, and reduced gastrointestinal side-effects compared to conventional psilocin prodrugs.”