Enveric Biosciences signs licensing agreement with Diverse Biotech

Enveric Biosciences has announced that it has signed an exclusive, perpetual licensing agreement with Diverse Biotech to develop new molecules for the treatment of cancer and other debilitating diseases.

According to the agreement, Enveric will procure five molecules –one of which is pain-focussed and the other four are dermatology-focussed – adding to the Company’s list of target indications.

Enveric will also be receiving the services of Diverse Biotech’s scientists and formulators to help it synthesise and validate these drugs along its pre-clinical and clinical journey.

Founded in 1994, in Naples, Florida, USA, Enveric is a biotechnology company that focusses on developing new, rigorously tested cannabinoid medicines to alleviate the side effects of chemotherapy and improve the quality of life for cancer patients.

Founded in Orlando, Florida, in 2013, Diverse Biotech is a biopharmaceutical company dedicated to developing novel molecules and therapeutics for the treatment of cancer and other debilitating diseases, by combining the core component cannabidiol (CBD) with other targeted medicines, through advanced conjugate chemistry.

Enveric plans to research and develop Diverse Biotech’s new drugs by blending cannabidiol (CBD) with existing, standard-of-care drugs through Diverse Biotech’s patented and advanced chemistry drug delivery platform, while simultaneously expanding its pipeline of development candidates.

Diverse Biotech Interim CEO Brian Longstreet said: “This exclusive licensing agreement with Enveric aims to expand our CBD conjugate platform into oncology supportive care indications for the first time. We believe that our collaboration has the potential to advance this science more efficiently, ultimately bringing therapies to market faster to help serve unmet medical needs in this large patient population.”

Enveric Biosciences chairman and CEO David Johnson said: “This is an exclusive, novel way of bringing together CBD and well-known, existing compounds that hold promise to create a new, improved drug class. As a patient-centric company, Enveric is constantly looking for new ways to eliminate or minimise cancer treatment side effects for patients in need. With its anti-inflammatory properties, CBD holds so much potential to help these patients, especially since status-quo treatments are not an adequate solution. We are confident that, with this impressive team of experts and Diverse Biotech’s conjugate technology platform, this relationship can help us to expand our potential treatment options for cancer patients who continue to suffer around the globe.

“Enveric has a clear focus to serve cancer patients’ supportive care needs with our current pipeline consisting of innovative early-stage formulations. We intend to continue to add to that portfolio by moving forward internal development initiatives and targeted external business opportunities. Our new molecules from Diverse Biotech provide us with more options to address these difficult indications while building on our IP portfolio and expanding our access to leading scientific talent.”