Enveric Bio rises on plans to sell cannabinoid-related therapy patent

Enveric Biosciences

23/02/2024 15:18

** Shares of biotech firm Enveric Biosciences  ENVB.O  rise
15.5% to 98 cents 
    ** Co says it has agreed to sell one of its cancer-targeting
cannabinoid-related therapy patent portfolio for an undisclosed
amount
    ** Cannabinoids or cannabis-based drugs are used for
alleviating severe pain and inflammation    
    ** ENVB plans to focus in the development of its lead
candidates, EB-003 and EB-002, which are therapies to treat
mental health disorders 
     ** The divested portfolio includes patents issued in the
U.S., Australia, Canada, China, Europe, and Japan, with patent
applications pending in Canada, Israel, and Korea- ENVB  
    ** Stock has fallen 63.8% in the last 12 months 
    

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))