Enveric Biosciences (NASDAQ: ENVB) said its shares descended early Monday, as the biotechnology company dedicated to the development of novel neuroplastogenic small-molecule therapeutics for the treatment of depression, anxiety and addiction disorders, today announced a poster presentation highlighting novel screening processes and technologies exclusive to Enveric’s EVM301 Series. The poster will be presented at the International Conference on Molecular Biology and Biochemistry 2023 (ICMBB 2023) taking place in Toronto from September 18-19. Enveric’s EVM301 Series encompasses new chemical entity (NCE) tryptamine pharmaceutical drug candidates designed to engage the serotonin 5HT2A receptor and other neurotransmitter receptors with the intent to promote neuroplasticity and therapeutic benefit without inducing hallucinatory effects.
During the conference, Innovation VP Jillian Hagel will present the poster titled, “Screening for Non-hallucinogenic Neuroplastogens as Drug Candidates for the Treatment of Anxiety, Depression, and Posttraumatic Stress Disorder.” The poster provides an overview of the screening protocol employed in the development of Enveric’s EVM301 Series, which has resulted in the synthesis of a catalog of proprietary compounds derived from the structures of serotonin (5-hydroxytryptamine) and psychedelic molecules such as N,N-dimethyltryptamine (DMT) and psilocin (4-hydroxy-DMT). The poster further highlights protocols for modeling the potential of each compound to reduce or eliminate hallucinations, which may permit the administration of the drug at a dose that induces neuroplasticity and may be beneficial in the targeted treatment of CNS disorders.
ENVB shares lost four cents, or 1.8%,to $2.24.