An emerging trend in some bioscience startups is the development of both cannabis and psychedelics products. One such company is Enveric Biosciences, headquartered in Naples, Florida, which hopes to leverage psychedelics-derived molecules for the mind and create synthetic cannabinoids for the body in the treatment of cancer.
Joe Tucker, CEO and director of Enveric Biosciences, said that Enveric doesn’t have any near term aspirations of literally combining cannabinoids and psychedelics. “Enveric is a drug development company” he said. “So when you go down that path, it’s generally about a single molecule, what a single molecule is doing, a single indication that you’re going after. But you can see numerous applications where a patient could take a cannabinoid for their cancer, and a psychedelic separately approved for their mental health, and it could be the same patient benefit for both.”
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Enveric’s artificial intelligence tool, PsyAI, which Tucker said they built from scratch, enables the company to narrow down the potential compound variations to best target specific mental or physical ailments. PsyAI can help researchers at the company target indications and accelerate the pathway to an Investigational New Drug (IND) designation from the U.S. Food and Drug Administration (FDA).
