Enveric Biosciences Announces Positive Results from Recently Completed IND-enabling ADMET Studies

CAMBRIDGE, Mass. — Enveric Biosciences (NASDAQ: ENVB) (“Enveric” or the “Company”), a biotechnology company advancing novel neuroplastogenic small-molecule therapeutics to address psychiatric and neurological disorders, today announced positive results from recently completed IND-enabling in vitro Absorption, Distribution, Metabolism, Excretion and Toxicity (ADMET) studies for its lead non-hallucinogenic, neuroplastogenic candidate EB-003.

The comprehensive in vitro screen, involving a battery of over 70 individual assays, demonstrated favorable properties of EB-003 including:

• Predicted to have favorable intestinal absorption potential when evaluated in human cell-based membrane permeability tests
• Does not show significant in vitro plasma protein binding suggesting favorable biodistribution and clearance properties when the drug enters the bloodstream
• Demonstrates stability when evaluated against liver metabolism enzymes from multiple species, including human
• Is not a substrate of key liver and renal transporters in vitro, suggesting favorable systemic drug exposure and a more predictable drug elimination profile
• Does not show significant inhibition or induction of major metabolic enzymes and multidrug transporter proteins, reducing the possibility of drug-drug interactions

“These results represent an important milestone in the development of EB-003, provide additional support for its preclinical development profile, and support its continued advancement toward a planned first-in-human clinical trial,” said Joseph Tucker, Ph.D., Director and Chief Executive Officer of Enveric. “So far, the data generated from our IND enabling studies have showcased a differentiated pharmacological profile for EB-003, with the potential to preserve certain therapeutic benefits associated with neuroplasticity while minimizing safety concerns and hallucinogenic impacts.”

Enveric Biosciences (NASDAQ: ENVB) is a biotechnology company focused on developing next-generation, small-molecule neuroplastogenic therapeutics that address unmet needs in psychiatric and neurological disorders. By leveraging a differentiated drug discovery platform and a growing library of protected chemical structures, Enveric is advancing a pipeline of novel compounds designed to promote neuroplasticity without hallucinogenic effects. Enveric’s lead candidate, EB-003, is the first known compound designed to selectively engage both 5-HT2A and 5-HT1B receptors with the potential to deliver fast-acting, durable antidepressant and anxiolytic effects with outpatient convenience.

For more information, please visit www.enveric.com.

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information, including, without limitation, statements regarding the expected issuance of the allowed patent application; the expected scope, strength, value or enforceability of any patent that may issue; Enveric’s intellectual property strategy; the potential therapeutic, neuroplastogenic, non-hallucinogenic, drug-like, blood-brain-barrier penetration, metabolic stability, oral administration or other properties of compounds in the EVM401 Series; the potential treatment of PTSD or other psychiatric or neurological disorders; the potential relevance of methylone-based therapies or third-party clinical data to Enveric’s development programs; and Enveric’s development plans, regulatory strategy and expectations regarding future preclinical or clinical studies. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as “plans,” “expects” or “does not expect,” “proposes,” “budgets,” “explores,” “schedules,” “seeks,” “estimates,” “forecasts,” “intends,” “anticipates” or “does not anticipate,” or “believes,” or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, should, would, or might occur or be achieved. Forward-looking statements may include statements regarding beliefs, plans, expectations, or intentions regarding the future and are based on the beliefs of management as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including, but not limited to, the ability of Enveric to: finalize and submit its IND application to the U.S. Food and Drug Administration; carry out successful clinical programs; achieve the value creation contemplated by technical developments; avoid delays in planned clinical trials; establish that potential products are efficacious or safe in preclinical or clinical trials; establish or maintain collaborations for the development of therapeutic candidates; obtain appropriate or necessary governmental approvals to market potential products; obtain sufficient future funding for product development, clinical development activities, working capital and other operating expenses on commercially reasonable terms, or at all; scale-up manufacture of product candidates; respond to changes in the size and nature of competitors; hire and retain key executives and scientists; secure and enforce legal rights related to Enveric’s products, including patent protection; identify and pursue alternative routes to capture value from its research and development pipeline assets; continue as a going concern; and manage its future growth effectively.

A discussion of these and other factors, including risks and uncertainties with respect to Enveric, is set forth in Enveric’s filings with the Securities and Exchange Commission, including Enveric’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Enveric disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contacts

David Irish

(231) 632-0002

Casey McDonald

(646) 577-8520