CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Enveric Biosciences (NASDAQ: ENVB) (“Enveric” or the “Company”), a biotechnology company dedicated to the development of novel neuroplastogenic small-molecule therapeutics for the treatment of depression, anxiety, and addiction disorders, today announced the company will build on its recent business development momentum by soliciting Requests-For-Proposal (“RFPs”) for license or sale of its PsyAI™ trademark portfolio as a means of maximizing value for an asset which is no longer strategic given the Company’s focus on drug development. This limited portfolio of US and Canadian trademark assets is held by its subsidiary, Enveric Biosciences Canada, Inc. Enveric has already received two expressions of interest in the licensing or sale of the portfolio of PsyAI™ marks, which has jump-started the RFP process for auctioning the marks.

The PsyAI trademark portfolio was filed with the intent to use it in “providing online non-downloadable computer software for data analytics, machine learning, knowledge management, and predictive analysis of biostatistical data and treatment data, in the field of medical research.” However, the Company has determined that it is in its best interest to focus on the development of its lead compound, EB-003, a potential first-in-class neuroplastogen designed to promote neuroplasticity without inducing hallucinations, which allows the company to pursue monetizing the PsyAI mark through the license or sale to others.

Enveric believes the PsyAI mark is well positioned for possible uses across various industries, particularly at the intersection of psychiatric medicine and Artificial Intelligence (AI). AI continues to disrupt traditional business sectors, including healthcare, that until now have been dominated by person-to-person relationships. According to Precedence Research¹, the global AI market is projected to reach $757B by 2025, while Markets and Markets forecasts the global AI healthcare segment to be valued at $14.9B in 2024². Additionally, Market.us estimates that the global Mental Health AI market will grow from $0.9B in 2023 to $14.9 billion by 2033³.

The demand for AI-driven healthcare solutions is expanding, with applications in diagnostics, treatment planning, patient monitoring, and personalized medicine. AI-powered platforms, including interactive interfaces and avatars, are increasingly used for remote consultations, decision support, and predictive analytics. Many organizations are actively developing AI-driven software for research, clinical applications, and healthcare data analytics, leveraging machine learning and automation to enhance efficiency and patient outcomes. The PsyAI™ mark could serve as a valuable asset in these evolving healthcare markets, supporting AI-drive advancements across multiple medical disciplines.

The period for receiving RFPs for license or sale of the PsyAI portfolio is now open and will remain open until August 31, 2025, with a decision to follow within three (3) months thereafter. RFPs are expected to include an outline of the services for which the proposer expects to use the mark, its corporate history in AI and expected future commitment to AI-supported services, and its proposed key financial and business terms. The RFPs will be received by Enveric in confidence at cgegenheimer@enveric.com.

“We are pleased to have already received expressions of interest in license or purchase of the Enveric’s PsyAI mark and are excited about the potential receipt of RFPs as a path to private auction and maximizing the value captured from this asset. We believe that in the current technology environment this trademark portfolio holds considerable value for those seeking to penetrate the market for services that can positively impact research and support patients in the psychiatric and counseling markets,” said Joseph Tucker, Ph.D., CEO of Enveric. "Now that Enveric is fully focused on the development of EB-003, the PsyAI mark is no longer central to our core growth strategy. We believe this RFP process can be another way in which Enveric can seek to derive value from its assets while it continues its leadership role in the industry by advancing the development of our innovative drug candidate, EB-003, for the treatment of neuropsychiatric conditions.”

About Enveric Biosciences

Enveric Biosciences (NASDAQ: ENVB) is a biotechnology company dedicated to the development of novel neuroplastogenic small-molecule therapeutics for the treatment of depression, anxiety, and addiction disorders. Leveraging its unique discovery and development platform, the Psybrary™, which houses proprietary information on the use and development of existing and novel molecules for specific mental health indications, Enveric seeks to develop a robust intellectual property portfolio of novel drug candidates. Enveric’s lead molecule, EB-003, is a potential first-in-class neuroplastogen designed to promote neuroplasticity, without inducing hallucinations, in patients suffering from difficult-to-address mental health disorders. Enveric is focused on advancing EB-003 towards clinical trials for the treatment of neuropsychiatric disorders while out-licensing other novel, patented Psybrary™ drug candidates to third-party licensees advancing non-competitive market strategies for patient care. Enveric is headquartered in Naples, FL with offices in Cambridge, MA and Calgary, AB Canada. For more information, please visit www.enveric.com.

Forward-Looking Statements

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. 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 filing 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 future funding for product development and working capital on commercially reasonable terms; 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.

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¹ https://www.precedenceresearch.com/artificial-intelligence-market
² https://www.marketsandmarkets.com/Market-Reports/artificial-intelligence-healthcare-market-54679303.html
³ https://market.us/report/ai-in-mental-health-market/

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