Enveric licenses radiation dermatitis product to Aries; eligible for up to $61M in milestones

Enveric Biosciences, Inc.

Akos (Enveric sub) grants Aries exclusive worldwide license for patented radiation dermatitis topical.
Enveric eligible for up to $61M in aggregate milestone payments plus tiered royalties of 2.5%-10%.
Market opportunity ~$400M annually; affects ~2M cancer patients per year.
Aries to lead clinical development and commercialization; Enveric to focus on neuropsychiatric.
Aries nominates Hari Harikumar as chairman-elect of subsidiary formed for this product.

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