On February 23, 2023 Enveric Biosciences (NASDAQ: ENVB) ("Enveric" or the "Company"), a biotechnology company dedicated to the development of novel small-molecule therapeutics for the treatment of anxiety, depression, and addiction disorders, reported the appointment of Lynn Gallant to the position of Vice President, Clinical Operations (Press release, Enveric Biosciences, FEB 23, 2023, View Source [SID1234627607]). Ms. Gallant brings more than 25 years of clinical operations and trial management experience to Enveric and will work alongside Bob Dagher, M.D., Chief Medical Officer, to oversee the ongoing development of the company’s EVM201 Series and EVM301 Series clinical programs.

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"Lynn possesses more than 25 years of experience in the pharmaceutical industry, including leadership positions at both large and emerging pharmaceutical companies. As our newly appointed Vice President, Clinical Operations, she will be responsible for driving the clinical development of our EVM201 and EVM301 product platforms," said Joseph Tucker, Ph.D., Director and CEO of Enveric Bioscience. "During her impressive career, Lynn has led numerous clinical programs from ‘first-in-human’ to Phase 3, managing performance targets to meet company goals, maintain resources, and coordinate process development to ensure optimal trial outcomes. We are delighted that Lynn is joining Enveric’s senior team as we prepare to initiate a clinical trial investigating EB-373, the first product from the EVM201 Series, for the treatment of anxiety disorders."

Ms. Gallant was most recently Vice President, Clinical Operations at BlueRock Therapeutics, a subsidiary of Bayer, where she led multiple clinical programs investigating the company’s cell and gene therapy platform across several disease indications. Additionally, Ms. Gallant worked with BlueRock’s regulatory team to prepare and secure Investigation New Drug (IND) applications, fast track submissions, and breakthrough and orphan drug designations. Prior to BlueRock, Ms. Gallant served as Executive Director, Clinical Operations at Bioverativ, a Sanofi Genzyme company. During her tenure at Bioverativ, Ms. Gallant was responsible for leading the company’s clinical operations and providing strategic direction for its rare blood disease portfolios across multiple indications from development to commercialization to post market access. Earlier in her career, she held clinical operations and trial manager positions at EMD Serono, the healthcare business of Merck KGaA, Sunovion Pharmaceuticals, Genzyme Corporation, and Stryker Biotech. Ms. Gallant holds a B.S. in Medical Biology from the University of New England.

Ms. Gallant stated: "I am excited to join Enveric at a pivotal time for the company as we plan to soon advance EB-373 into the clinic for the treatment of anxiety disorders. I look forward to working with Enveric’s leadership and R&D teams as we seek to transform the lives of patients living with mental illness by developing novel treatments that open new pathways to target impaired neural circuitry, with the overarching goal of improving brain health."

The Company granted restricted stock units ("RSUs") convertible into an aggregate of 10,000 shares to Ms. Gallant, to become employed by the Company as Vice President, effective as of February 22, 2023, as an inducement award outside of the Company’s 2020 Long-Term Incentive Plan. Subject to certain exceptions including change in control or termination of employment, the awarded RSUs shall vest in four equal installments on each of the first four anniversaries of the date of grant. The grant was approved by the board of directors of the Company and made as an inducement material to Ms. Gallant entering into employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).

About EB-373

Enveric’s lead drug candidate, EB-373, is next generation synthetic psilocybin analogue developed leveraging its Psybrary drug discovery platform. Enveric selected EB-373 from its EVM200 Series targeting novel and innovative treatments for anxiety disorders. In preclinical studies, EB-373 show positive serotonin 5-HT2A receptor stimulation in vivo, based on induction of the characteristic Head Twitch Response (HTR) behavioral marker in healthy mice. And in an animal behavioral model of anxiety, the Marble Burying Test, the compound exhibited anxiolytic benefit in chronically stressed mice.