Today, Diverse Biotech announced that it had finalized a strategic transaction with Enveric Biosciences. The transaction is about licensing exclusive worldwide development and commercializing rights for five novel compounds addressing cancer treatment’s side effects. Diverse Biotech has created an advanced chemistry drug discovery platform. It combines cannabinoids with other molecules to create several new drug candidates.
They try to create drugs with potentially greater efficiency and a more favorable side effect profile than the standard therapy. The terms of the agreement say that Diverse will receive an undisclosed upfront payment and royalties on the sale of commercialized compounds in the territory.
Brian also said that the intellectual property patents cover various potential new chemical entities. They believed that it is just the beginning of future partnerships with companies willing to expand their drug portfolio.
Diverse Biotech is a US-based drug discovery and biopharmaceutical research company. The company focuses on medical findings and developing new molecules for cancer treatment and other debilitating diseases. The company aims to discover and develop novel therapeutics which utilize cannabidiol as a core component. Their initial focus was only on hard-to-treat oncologic disorders like glioblastoma and pancreatic cancer.