Enveric Biosciences (NASDAQ: ENVB) (”Enveric” or the “Company”), a biotechnology company dedicated to the development of novel small-molecule therapeutics for the treatment of anxiety, depression and addiction disorders, today announced the presentation of results from its lead programs at the 6^th International Neurology & Brain Disorders Conference (INBC) to be held on October 24-26, 2022, in Orlando, Florida (https://neurologycongress.com). The Company’s poster presentations will demonstrate the comprehensive innovation processes behind the rapid development of a large library of new chemical entity (NCE) drug candidates encompassing significant structural diversity and exhibiting therapeutically relevant neuroactive properties.

Enveric’s first poster presentation, related to the EVM201 development program, describes the screening and pharmacological characterization of a portfolio of novel psilocin prodrugs, comprising of nine distinct prodrug classes. All molecules were rationally designed to achieve altered metabolic and pharmacokinetic properties with the intention of improving the drug-like properties and pharmacological profile of EVM201 drug candidates compared to the natural compound, psilocybin.

Dr. Peter Facchini, Chief Innovation Officer, stated, “We are pleased to share with the scientific community the results of our drug discovery program. We look forward to advancing this promising portfolio of molecules in support of our goal to develop improved and innovative mental health treatments for patients in need.”

Enveric’s second poster presentation, related to the EVM301 development program, describes the discovery and characterization of novel methods and tools to accelerate the future discovery of additional promising neuroactive drug candidates.

About Enveric Biosciences

Enveric Biosciences (NASDAQ: ENVB) is a biotechnology company dedicated to the development of novel small-molecule therapeutics for the treatment of anxiety, depression and addiction disorders. 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”, “proposed”, “is expected”, “budgets”, “scheduled”, “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, would, or might occur or be achieved. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements 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 to achieve the value creation contemplated by technical developments; the impact of the novel coronavirus (COVID-19) on Enveric’s ongoing and planned clinical trials; the geographic, social and economic impact of COVID-19 on Enveric’s ability to conduct its business and raise capital in the future when needed; delays in planned clinical trials; the ability to establish that potential products are efficacious or safe in preclinical or clinical trials; the ability to establish or maintain collaborations on the development of therapeutic candidates; the ability to obtain appropriate or necessary governmental approvals to market potential products; the ability to obtain future funding for developmental products and working capital and to obtain such funding on commercially reasonable terms; Enveric’s ability to manufacture product candidates on a commercial scale or in collaborations with third parties; changes in the size and nature of competitors; the ability to retain key executives and scientists; and the ability to secure and enforce legal rights related to Enveric’s products, including patent protection. 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 (SEC), including the Company’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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