Enveric Biosciences Signs Non-Binding Term Sheets to Pursue the Exclusive Out-Licensing of Three Classes of Compounds
The compounds come from Enveric’s extensive library of over 1,000 novel molecules generated using the Company’s Psybrary™ platform and proprietary computational chemistry and artificial intelligence (AI) drug-discovery system (PsyAI™).
- The compounds come from Enveric’s extensive library of over 1,000 novel molecules generated using the Company’s Psybrary™ platform and proprietary computational chemistry and artificial intelligence (AI) drug-discovery system (PsyAI™).
- The three term sheets contemplate that the undisclosed licensee would receive exclusive, royalty-bearing global licenses to develop and sublicense the assets, along with cash buyout options and future option rights to substantially related assets in the Enveric portfolio.
- The licensee would assume responsibility for all future preclinical and clinical development for all human and/or animal pharmaceutical applications.
- The compound classes under the term sheets come from two of the seven portfolios of preclinical molecules that Enveric recently unveiled as available for out-licensing .