MagicMed is a Canadian company, acquired by Enveric Biosciences, making a molecular derivatives library (Psybrary™) to speed up and develop new psychedelic medicines.
Magic Med
From their website: “MagicMed Industries intends to partner with pharmaceutical and other companies to develop psychedelic-derived medicinal. MagicMed’s molecular derivatives library, the Psybrary™ is anticipated to be an essential building block from which industry can develop new patented products. The initial focus of the Psybrary™ is on psilocybin, and is expected to be opportunistically expanded to other psychedelics like MDMA, ketamine, ibogaine, mescaline, and ayahuasca.“
The company has been bought by Enveric Biosciences.
News
- Enveric Biosciences Announces Definitive Agreement to Acquire MagicMed Industries, a Pharmaceutical Drug Discovery and Development Platform Focused on New-Generation Psychedelic Molecular Compounds and Derivatives (press release, May 2021)
- MagicMed Industries Announces Agreements with the University of Calgary to Accelerate Development of the MagicMed Psybrary™ (press release, October 2020)
- MagicMed makes psychedelic molecules to turn trips into treatments (University of Calgary, October 2020)
- Dr. Peter Facchini, MagicMed Industries (Psychedelic Finance, October 2020)
- MagicMed Industries Closes Oversubscribed Private Placement for $1,642,880 with Mackie Research Capital Corporation (press release, September 2020)
Activities
B2C
Drug Discovery
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Company News
Enveric Biosciences CEO, Dr. Joseph Tucker, Provides 2021 Year in Review and 2022 Outlook in Letter to Shareholders (Press Release, 18 January 2022)In this investor update, Joseph Tucker of Enveric Biosciences shares that the company has raised $25 million in 2021, acquired MagicMed and filed 15 patents.