Enveric Biosciences Inc (NASDAQ:ENVB) Enters Deal To Acquire Diverse Biotech’s Exclusive License

Enveric Biosciences has received an exclusive license from Diverse Biotech. The license gives the company a nod to undertake the development of new drugs targeting cancer treatment. Most cancer patients struggle with severe side effects, and the company targets ending the nightmare.

Enveric focuses in the development of effective therapies

Every will take advantage of Diverse Biotech’s patented drug delivery platform in the quest to come up with a leading solution that boosts therapeutic outcomes among patients. The company says that the conjugation of cannabidiol (CBD) with a select group of existing drugs will see it expand its pipeline a great deal as it seeks to provide top solutions to struggling patients.

Diverse Biotech signs the exclusive licensing agreement with Enveric Biosciences in a quest to expand its CBD conjugate platform. The company hopes that the move will enable it to focus on providing oncology supportive care services, which might later translate into the generation of significant profits.

Longstreet applauds the new collaboration

The company’s Interim CEO Brian Longstreet sees the latest collaboration as a step towards the right direction, outling that it will enable them to develop therapies and channels them to the markets as fast as possible. The official speaks out on the huge gap that compels them to work with speed to serve the unmet medical needs. Longstreet sees the large patient population as a significant opportunity for the company to ensure health and well-being.

The new agreement requires Enveric to obtain five molecules, adding to the company’s target indications list. Sources indicate four of the molecules as being dermatology-focused, whereas the remaining one happens to be pin-focussed.

Scientists and formulators to streamline processes

Diverse Biotech’s scientists and formulators will streamline matters for Enveric in synthesizing and validating the drugs in question. The company focuses on its preclinical and clinical activities, and sees the latest collaboration as a progressive one.

The Chairman and CEO of Enveric Biosciences says that their eye is focused on developing new and improved drug lots. Hed refers to his company as a patient-centric type that will stop at nothing to minimize cancer treatment side effects.