Enveric Biosciences provided an update on data underpinning the selection of EB-003 as its lead drug candidate from the Company's next-generation EVM301 Series. As previously announced, EB-003 was selected based on data analyses suggesting the molecule's potential to be a first-in-class approach to addressing difficult-to-treat mental health disorders by promoting neuroplasticity without inducing hallucinations. Importantly, EB-003: Exhibited partial agonism of the 5-HT2A receptor, binding with a Ki of 0.2 uM (micromolar), which is within the range of binding affinity of the known 5-HT2A agonists DMT and psilocin.

Bound the 5-HT1A receptor with a Ki of 3.3 µM. These data points correct previously announced information which stated 0.2 mM and 3.3 mM respectively and indicate a 1000x greater binding affinity compared to what was previously reported. 5-HT2A is the key receptor correlated to the neuroplastogenic activity of this emerging class of novel drugs. 5-HT1A is a known important therapeutic target because other, already-approved medications for neuropsychiatric indications are known to bind this receptor.

EB-003 was identified following a rigorous selection process during which Enveric utilized its proprietary computational chemistry and artificial intelligence (AI) drug-discovery platform, PsyAI?, to simulate interactions between indolethylamine derivatives and the 5-HT2A receptor to design novel molecules with reduced head-twitch response (HTR) in mice. HTR is a rodent behavioral model used to predict whether a molecule is likely to produce hallucinogenic effects in humans. In total, 51 proprietary indolethylamine analogs were screened, from which EB-003 was selected based on key properties including the molecule?s ability to bind to the 5-HT2A receptor and induce neuroplasticity while eliciting no significant HTR across a wide dose range.