CAMBRIDGE, Mass. — Enveric Biosciences Inc. has expanded its collaboration with TOTEC Pharma through a trademark licensing agreement that grants TOTEC the rights to Enveric’s RCANN trademark portfolio, with an option to purchase the trademarks in the future.
The agreement covers U.S. trademarks for RCANN and an associated design mark and was executed through Enveric subsidiary Akos Biosciences. TOTEC Pharma, an affiliate of Aries Science & Technology, is developing a patented cannabinoid-based topical cream originally created by Enveric for the treatment of radiation dermatitis.
Under the terms of the agreement, TOTEC receives rights to use the RCANN trademarks as it advances commercialization of the cannabinoid crème technology. The deal also includes an option for TOTEC to acquire the RCANN trademark portfolio outright, contingent on meeting specified development and commercialization milestones.
“We are pleased that TOTEC has chosen to further license the RCANN trademark portfolio in connection with advancing the licensed cannabinoid technology towards commercialization,” said Joseph Tucker, Ph.D., chief executive officer of Enveric Biosciences. “We believe that this trademark license enhances the value to both parties of the patented cannabinoid technology previously licensed to the TOTEC affiliate, Aries, that is now being advanced by TOTEC.”
Tucker said the agreement aligns with Enveric’s broader business strategy of out-licensing assets that are not central to its core drug development programs. “This license further extends the business development momentum of Enveric which has been aided by the out-licensing of non-core assets to third parties and helps build shareholder value,” he said.
Hari Harikumar, president of TOTEC Pharma, said the trademark license supports the company’s commercialization plans. “The trademark license from Enveric helps TOTEC to position the patented cannabinoid crème technology for commercialization through a series of innovative product solutions,” he said.
Enveric said it expects the underlying technology licensing agreement with Aries to continue alongside the trademark arrangement. Tucker added that, if the planned products perform as expected, the earlier technology licensing deal could generate milestone payments and royalties tied to commercial success.
