Enveric Biosciences(NASDAQ:ENVB), a Nasdaq-listed psychedelics biotech firm, has entered into a non-binding term sheet with an undisclosed biotech company (licensee) for an exclusive license to two patented methods aimed at treating breast cancer and other cancers. These methods utilize cannabinoids in combination with chemotherapeutic drugs.
As per the agreement, the licensee will obtain an exclusive, global license to these methods, along with any devices and drugs developed to implement them. The licensee will also take on all future preclinical and clinical development responsibilities on a royalty-bearing basis for both human and animal pharmaceutical applications.
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