Establishing a Library of Novel Psychedelic Derivatives
This MagicMed profile is part of a paid investor education campaign.*
In recent years, the psychedelic market has been heating up, increasing investor interest and capital flow into this growing sector. In terms of the market size of psychedelic medicine, it is estimated that it could be as high as US$100 billion. Developing cultural movements, extensive research and policy changes are pushing this rapidly emerging market forward, which is gaining tremendous global and real investor traction.
One unique company in this growing space is MagicMed Industries, a biotechnology company focused on the discovery and early development of novel drug candidates, structurally related to the classic psychedelics but with vastly improved pharmaceutical characteristics and commercial potential. The company intends to establish its flagship molecule derivatives library, the Psybrary™, as an essential building block from which industry partners can develop new patented products.
Psybrary™ is a particularly exciting project considering the resurgence of interest and investment in psychedelics as an alternative mental health therapy in recent years. In 2017, the US Food and Drug Administration (FDA) recognized the potential benefits of MDMA by assigning a Breakthrough Therapy Designation to an MDA-assisted therapy to treat post-traumatic stress disorder (PTSD). Notable government investment and shifting regulatory policy will allow MagicMed to leverage significant institutional support and a growing patient base to explore psychedelic use in a medical capacity.
With a vast library of individual molecules covered by several different chemical compound categories, MagicMed is pursuing partnerships with innovators in the industry to develop newly patented products. These products will help tailor drug candidates to patients’ needs and unlock the healing power of psychedelics. MagicMed has finished its initial derivative portfolio based on the structures of psilocybin and N,N-dimethyltryptamine (DMT). Research efforts continue to create additional patents and derivative portfolios based on MDMA, mescaline, LSD and ibogaine.
To create the novel derivatives contained in the Psybrary™ , the MagicMed team combines synthetic biology and traditional chemistry techniques. This combination allows MagicMed to create a library of molecules that is larger and more diverse than what chemistry techniques alone can achieve. MagicMed analyzes, catalogues, and stores the molecules to find desired characteristics, such as an improved safety profile. Screening a vast library of drug candidates generates a sizeable amount of data that can be processed and used to improve future generations of the Psybrary™.
The company’s diversified approach to molecule manufacturing and market outreach works to de-risk its business model. Making multiple molecules for multiple indications broadens MagicMed’s exposure to numerous specific drug treatments and sectors of the overarching psychedelic market. It’s strategic partnership with the University of Calgary has also benefited the company by providing access to state-of-the-art equipment that the team has been able to utilize.
Next steps for MagicMed include the exciting announcement of a pending public listing on the Canadian Security Exchange in the first or second quarter of 2021. Likewise, the company has been working on new derivatives, patents and first partner engagements since 2020.
MagicMed Industries’ Company Highlights
- MagicMed Industries is a biotechnology company focused on its flagship Psybrary™ project, a library of novel derivative molecules based on classic psychedelics like psilocybin, DMT, mescaline, ibogaine, MDMA and LSD.
- The company’s main objective is advancing the discovery and early development of novel drug candidates structurally similar to classic psychedelics.
- MagicMed has finished it’s initial derivative portfolio based on the structures of psilocybin and N,N-dimethyltryptamine (DMT).
- MagicMed’s diverse approach to molecule manufacturing, revenue generation and market exposure has reduced the company’s business model risk while positioning it for significant economic growth.
MagicMed Industries’ Key Projects
MagicMed’s Psybrary™ focuses on developing into the world’s foremost library of psychedelic derivatives. The library is designed to become one of the leading providers of novel drug candidates for the biotechnology and pharmaceutical industries.
The project combines synthetic biology and chemistry to enable its ever-expanding portfolio of psychedelic derivatives. Likewise, the library’s extensive, robust patenting is intended to cover composition and manufacturing for potentially millions of possible drug candidates.
The Psybrary™ would allow MagicMed partners to search, select and test from the psychedelic molecular derivatives in the project’s library and use them to develop pharmaceuticals for the indication they intend on targeting. MagicMed is constantly working with partners and its world-class science team to further refine and improve selected derivative molecules to advance final products and expand its fully patent-protected portfolio.
MagicMed Industries’ Management Team
Dr. Joseph Tucker—CEO
Dr. Joseph Tucker is a seasoned executive who has built several publicly traded biotechnology companies. He was a founder and CEO of Stem Cell Therapeutics, which he took public on the TSX. Trillium Therapeutics acquired Stem Cell Therapeutics in 2013. Dr. Tucker has also held the position of Co-Founder and CEO of Epimeron Inc., a University of Calgary start-up acquired in the creation of Willow Biosciences Inc. At Willow, he served as executive chairman and COO. Prior, Dr. Tucker was a healthcare analyst with two investment banks and worked in technology commercialization for a university technology transfer office. Dr. Tucker received his Ph.D. in Biochemistry and Molecular Biology from the University of Calgary.
Dr. Jillian Hagel—CTO
Dr. Jillian Hagel is the CTO for MagicMed Industries Inc. Jill leads the science team in delivering milestones and science program coordination. Dr. Hagel has over 19 years of experience in plant biochemistry and natural product biosynthesis. Before co-founding MagicMed Industries, Dr. Hagel held the position of vice president, Applied Science and co-founder of Willow Biosciences Inc. She was COO of Epimeron Inc. before the acquisition of Epimeron by Willow. Dr. Hagel has co-authored over 35 peer-reviewed publications and is the co-inventor on many patent applications. Dr. Jillian Hagel received her Ph.D. in natural products biochemistry in 2010 from the University of Calgary.
Dr. Peter Facchini—CSO
Dr. Peter Facchini is the CSO of MagicMed Industries, Inc. He has been a Professor of Plant Biochemistry in the Department of Biological Sciences at the University of Calgary for 25 years. Dr. Facchini held the Canada Research Chair in Plant Metabolic Processes Biotechnology and is currently a Parex Resources Innovation Fellow in the Faculty of Science. Dr. Facchini also co-founded and was CSO of Willow Biosciences Inc. and Epimeron Inc. Dr. Facchini has published over 160 scientific papers and co-invented over 30 patents. He is an international leader in the biochemistry and biotechnology of natural product metabolism.
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