Microcap Enveric Biosciences (NASDAQ:ENVB) is threatening to take legal action against AbbVie (NYSE:ABBV) as it believes that the latter’s major depressive disorder candidate bretisilocin, which it said it would acquire from Gilgamesh Pharmaceuticals in August for up to $1.2B, infringes on a patent it holds.
The patent in question, No. 12,138,276, deals with “Halogenated psilocybin derivatives and methods of using.”
Bretisilocin, a psychedelic compound, is currently in phase 2 of development.
Gilgamesh has previously filed a Post-Grant Review against the ‘276 patent. Enveric has now hired intellectual property-focused law firm Fish and Richardson to defend its patent.
“Enveric will vigorously defend its intellectual property and take all steps necessary to maximize the value of its intellectual property for shareholders,” Enveric CEO Joseph Tucker said in a statement.
Enveric shares are up ~20% in Wednesday morning trading.
