Enveric Signs Term Sheets To Pursue Out-licensing Of Three Classes Of Compounds

(RTTNews) - Enveric Biosciences (ENVB) has signed three non-binding term sheets with an undisclosed biotechnology company to pursue the out-licensing of three classes of compounds. Enveric could be eligible to receive future development and sales milestone payments and execution fees for the three licenses, which in total could add up to $200 million. Royalty rates on each of the three licenses could range from 2.5% up to 10% on future sales, the company said.

Enveric Biosciences noted that the compound classes under the term sheets come from two of the seven portfolios of preclinical molecules that the company recently unveiled as available for out-licensing.

Shares of Enveric Biosciences are up 160% in pre-market trade on Thursday.

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