What Enveric Biosciences does

Enveric Biosciences, Inc. (NASDAQ: ENVB) is a development-stage biotechnology company developing neuroplastogenic small-molecule therapeutics for neuropsychiatric disorders including PTSD, treatment-resistant depression, major depressive disorder, and generalized anxiety disorder. The company's core technology is the Psybrary™ platform — a proprietary discovery and development engine that has synthesized hundreds of novel molecules derived from classic psychedelics (DMT, psilocybin, MDMA) with engineered receptor binding profiles. Its lead candidate, EB-003, is designed to selectively engage both 5-HT2A and 5-HT1B receptors to deliver antidepressant and anxiolytic effects without hallucinogenic effects, enabling a prescription model with outpatient administration. Additional pipeline series include EVM301 (carboxylated psilocybin derivatives) and EVM401 (mescaline-derived phenylalkylamines and indolethylamines).

The business model is structured around two revenue paths. First, Enveric out-licenses non-core Psybrary™ assets to pharmaceutical partners — including MycoMedica Life Sciences (EB-002, up to $62M in potential milestones), Aries Science & Technology (topical radiation dermatitis product, up to $61M), Restoration Biologics (cannabinoid-COX-2 conjugates, up to $82M), and TOTEC Pharma (RCANN™ trademark) — generating future milestone and royalty revenue. Second, the company intends to commercialize its core neuroplastogens directly via a prescription model for mental health indications once regulatory approval is secured. The Psybrary™ IP estate is protected by 27 issued U.S. patents and approximately 60 pending applications.

Enveric is operationally lean with 1-10 employees, dual-shore research operations across Cambridge, MA (HQ, relocated from Naples, FL in 2025), Calgary, AB, and Adelaide, Australia (via subsidiary Enveric Therapeutics, Pty. Ltd.), and a market capitalization of approximately $5.5M as of June 2026 on 4.03M shares outstanding at $1.37. The company funds operations through frequent small equity offerings and warrant exercises — $12.2M in gross proceeds during fiscal 2025 and a $5M private placement in April 2026 — while carrying a $1.6M quarterly net loss and $10.3M cash on hand as of mid-May 2026.

Name

Enveric Biosciences

Legal name

Enveric Biosciences, Inc.

Website

https://enveric.com

Company type

Public

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Enveric Biosciences is a clinical-stage biotechnology company (NASDAQ: ENVB) developing neuroplastogenic small-molecule therapeutics for PTSD, treatment-resistant depression, and anxiety, using its proprietary Psybrary™ platform of psychedelic-derived compounds to enable non-hallucinogenic, outpatient prescription treatments.

Ownership category

akta.pro rank

Product category

Psychiatric Therapeutics

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714), Pharmaceutical and Medicine Manufacturing (3254), Scientific Research and Development Services (5417)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Neurology & CNS Specialty Pharmaceuticals (HLAIACAC)

Keywords

• Neuroplastogenic therapeutics
• Psychedelic-derived pharmaceuticals
• Mental health drug discovery
• Cannabinoid biopharmaceuticals
• Novel tryptamine derivatives

Headquarters

HQ city

Naples

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Licensing Revenue: Out-licensing Psybrary™ assets generates milestone payments and royalty revenue. Licensing agreements include MycoMedica Life Sciences ($62M potential milestones for EB-002), Aries Science & Technology ($61M potential milestones for Topical Product), and Restoration Biologics ($82M potential milestones for Cannabinoid-COX-2 Conjugate Compounds).
2. Pharmaceutical Product Sales: Once products receive regulatory approval, the company plans to commercialize neuroplastogenic therapeutics through prescription model for mental health disorders.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

Enveric Biosciences is a pre-commercial biotechnology company developing neuroplastogenic small-molecule therapeutics for neuropsychiatric disorders. Its lead candidate EB-003 is designed to selectively engage 5-HT2A and 5-HT1B receptors to deliver fast-acting antidepressant and anxiolytic effects without hallucinogenic activity. The company leverages The Psybrary™ discovery platform to generate proprietary molecules, with multiple candidates out-licensed to pharmaceutical partners for development in radiation dermatitis, cannabinoid-COX-2 conjugates, and other indications.

Product overview

Enveric Biosciences is a biotechnology company developing a portfolio of neuroplastogenic small-molecule therapeutics for psychiatric and neurological disorders. The core product is EB-003, a lead molecule in clinical development targeting dual 5-HT2A and 5-HT1B receptors. The company operates The Psybrary™, a discovery platform that has generated multiple drug candidate series including EVM301 (carboxylated psilocybin derivatives) and EVM401 (mescaline-derived compounds). Several assets have been out-licensed to partners including MycoMedica Life Sciences (EB-002), Aries Science & Technology (topical radiation dermatitis product), and Restoration Biologics (cannabinoid-COX-2 conjugates). The company is headquartered in Cambridge, MA with offices in Calgary, AB and Naples, FL.

Differentiator

Problem solved

Functional benefit

Brands

• Psybrary: The company's unique discovery and development platform containing a robust IP portfolio of novel molecules for specific mental health indications
• EB-003
• EVM401

Products and services

• EB-003 Neuroplastogenic small-molecule therapeutic designed to selectively engage both 5-HT2A and 5-HT1B receptors to deliver fast-acting, durable antidepressant and anxiolytic effects without hallucinogenic effects. Indicated for difficult-to-treat mental health disorders including PTSD, treatment-resistant depression, and generalized anxiety disorder, with a planned outpatient prescription model.
• EVM401 Series Series of novel phenylalkylamines and indolethylamines, including mescaline-derived compounds, demonstrating promising interactions with key brain receptors involved in mental health disorders and addiction. Being developed for potential treatment of opioid withdrawal, ADHD, anxiety, depression, and substance use disorders.
• EVM301 Series Carboxylated psilocybin derivatives developed as neuroplastogenic molecules targeting neuropsychiatric and addiction disorders, designed to promote neuroplasticity while reducing or eliminating hallucinations. Covered by issued composition-of-matter and methods patents.
• Psybrary™ Discovery Platform Proprietary discovery and development platform that has generated a robust intellectual property portfolio of novel synthetic derivatives of classic psychedelics (DMT, psilocybin, MDMA) with unique receptor binding profiles and pharmacokinetic properties for specific mental health indications. Platform assets are made available for partnering or out-licensing to pharmaceutical companies.
• EB-002 (Out-Licensed to MycoMedica Life Sciences) Drug candidate out-licensed to MycoMedica Life Sciences with up to $62 million in potential milestone payments plus tiered single-digit royalties. Specific indication detail not provided in source.
• Topical Product for Radiation Dermatitis (Out-Licensed to Aries Science & Technology) Topical pharmaceutical product licensed to Aries Science & Technology for development in radiation dermatitis, with up to $61 million in potential milestone payments plus tiered royalties ranging from 2.5% to 10%.
• Cannabinoid-COX-2 Conjugate Compounds (Out-Licensed to Restoration Biologics) Cannabinoid-COX-2 conjugate compounds licensed to Restoration Biologics LLC under two agreements covering pharmaceutical and potential non-pharmaceutical applications for joint disease treatment. Deal terms include up to $82 million in potential milestone payments plus tiered single to low double-digit royalties.

Quantifiable outcome

• Single dose of EB-003 significantly reduced context-induced freezing behavior one hour post-dose (p < 0.05) in validated preclinical PTSD model
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• MagicMed IndustriescoreStrategic or Co-development Partner · 24 May 2021Enveric acquired MagicMed Industries in an all-stock transaction to expand its pipeline of cannabinoid and psychedelic therapies. MagicMed's Psybrary™ platform contributed to Enveric's discovery and development capabilities for creating psychedelic-derived molecules for oncology and CNS disorders including PTSD.
• MycoMedica Life SciencescoreOEM/ Whitelabel/ Licensing PartnerLicensing agreement for EB-002, a topical product for radiation dermatitis. Deal terms include up to $62 million in potential milestone payments plus tiered single digit royalties.
• Aries Science & TechnologycoreOEM/ Whitelabel/ Licensing PartnerLicensing agreement for Topical Product for Radiation Dermatitis. Deal terms include up to $61 million in potential milestone payments plus tiered royalties ranging from 2.5% to 10%.
• Restoration Biologics LLCcoreOEM/ Whitelabel/ Licensing PartnerTwo licensing agreements for Cannabinoid-COX-2 conjugate compounds for pharmaceutical and potential non-pharmaceutical applications. Deal terms include up to $82 million in potential milestone payments plus tiered single to low double digit royalties.
• TOTEC Pharma LLCminorOEM/ Whitelabel/ Licensing PartnerEnveric subsidiary Akos Biosciences licensed the RCANN trademark portfolio to TOTEC Pharma for development of patented cannabinoid crème technology for radiation dermatitis. Agreement grants option to purchase trademark portfolio upon meeting specific development and commercialization milestones.
• Fish and Richardson P.C.coreImplementation/ SI/ Consulting PartnerIntellectual property law firm hired by Enveric to contest a Post-Grant Review petition filed by Gilgamesh Pharmaceuticals against Enveric's patent relevant to bretisilocin molecule acquired by AbbVie in $1.2 billion deal.
• AbbVie Inc.minorOthersFollowing AbbVie's acquisition of Gilgamesh Pharmaceuticals in October 2025, AbbVie withdrew the Post-Grant Review petition filed by Gilgamesh against Enveric's patent covering halogenated psilocybin derivatives. This action left no remaining challenges against Enveric's patent.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Compass Pathways: Clinical-stage company developing psilocybin therapy for treatment-resistant depression. Directly comparable to Enveric as a psychedelic-inspired CNS therapeutics developer targeting overlapping mental health indications, with later-stage assets.
• MindMed: Clinical-stage neuroplastogenic medicine developer with a pipeline of LSD and MDMA-derived candidates for anxiety, depression, and ADHD. Closely comparable to Enveric's neuroplastogen CNS focus with similar target indications and small-molecule strategy.
• atai Life Sciences: Clinical-stage biopharmaceutical company developing psychedelic and complementary therapies for mental health, including DMT-based treatments. Directly comparable to Enveric in psychedelic-inspired CNS drug development and out-licensing/partnering model.
• GH Research: Clinical-stage company developing DMT-based therapies (GH001) for treatment-resistant depression. Comparable to Enveric's neuroplastogenic approach with overlapping 5-HT2A receptor mechanism and same TRD target indication.
• Cybin Inc. Clinical-stage company developing deuterated psilocybin analogs (CYB003) for depression and other CNS indications. Directly comparable to Enveric's psychedelic-derived small-molecule CNS strategy and analogous chemistry-platform approach.
• Sage Therapeutics: Developed Zurzuvae (zuranolone) for postpartum depression and other CNS neuroactive steroid therapies. Comparable to Enveric as a small-molecule CNS therapeutics developer targeting depression and related neuropsychiatric indications.
• Axsome Therapeutics: Commercial-stage CNS biopharmaceutical company with Auvelity (dextromethorphan-bupropion) approved for major depressive disorder. Comparable to Enveric's CNS focus on depression/anxiety with an oral, outpatient prescription model analogous to Enveric's planned EB-003 positioning.
• NRx Pharmaceuticals: Clinical-stage CNS company developing psychedelic-inspired treatments including NRX-101 for suicidal bipolar depression and DMT-based therapies. Directly comparable to Enveric in psychedelic-derived CNS therapeutics with overlapping TRD/suicidality target indications.

Broad incumbents

• AbbVie: Large pharmaceutical company that acquired Gilgamesh Pharmaceuticals (bretisilocin) for ~$1.2B in October 2025, validating the psychedelic-inspired CNS therapeutic class. Comparable as a competitor/partner in the same therapeutic space and relevant acquirer for Enveric's patent estate.
• Neumora Therapeutics: Clinical-stage CNS biopharmaceutical company developing precision neuroscience therapeutics for depression and other neuropsychiatric disorders. Comparable to Enveric as a CNS-focused small-molecule developer with similar target indications and prescription-model strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xtwitter.com/Enveric_bio
• Facebookfacebook.com/EnvericBiosciences
• LinkedInlinkedin.com/company/envericbio

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds11 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Enveric Biosciences