2020: A Year In Review for Psychedelic Pioneer MagicMed Industries

Between divisive political elections and a worldwide pandemic, 2020 was undoubtedly one of the most difficult years we’ve witnessed in decades. Nevertheless, the psychedelic medicine movement managed historic progress including massive drug policy wins and huge advancements in science and research. One company that is currently leading the charge for psychedelics is MagicMed Industries. From strategic research partnerships to filing 12 psilocybin based patents that cover over 125 million derivatives, the psychedelic pioneers at MagicMed are establishing a precedent of progress in this emerging space.

MagicMed Establishes an Experienced Leadership Team to Drive Psychedelic Drug Development

With over 25 years of drug development and biotechnology experience, the MagicMed executive team entered 2020 well equipped to take on their mission – create psychedelic derived drug candidates for the biotechnology and pharmaceutical industries, that have fewer side effects, better efficacy, and out of clinic applicability. By creating the Psybrary™, a library of psychedelic derivatives, MagicMed supports and enables their mission and the development of improved brain and mental health drugs for underserved patient populations. 

Both MagicMed’s leadership and science team have an extensive history in relevant fields to the nascent psychedelic pharmaceutical industry, including biotechnology and opioid manufacturing. The common thread amongst the team’s experience, from CEO to scientist, is a history of working with molecules derived from nature with major pharma/commercial application.

MagicMed Launches Development of their Psybrary™ to Establish Novel Psychedelic Derivatives

Psychedelics have immense potential to treat several illnesses. Multiple psychedelic based scientific studies and clinical trials show promising data to treat many mental health indications. This includes diseases and disorders like Addiction, Anxiety, Depression, and Attention Deficit Hyperactivity Disorder (ADHD). According to IQVIA’s 2020 global annual sales report and an Addiction review the annual global drug sales and treatment market for Addiction, Anxiety, Depression and ADHD are approximately $60 billion alone.

The element that most clearly separates MagicMed from other companies in this space is the same element that connects them to companies in this space – their signature psychedelic derivatives library. The company’s vast library of IP-protected drug derivatives, known as the Psybrary, is a vital first step for this industry to take. Library screening is commonplace in the pharmaceutical industry but the Psybrary™ is an innovative and unique resource in the Psychedelics field.  

The Psybrary is a proprietary library of novel molecules created and patented by MagicMed. It was launched in July with the company’s first psilocybin derivative patent filing. The molecules are based on the core structures of well-known psychedelic compounds, such as psilocybin, LSD, and mescaline. Though the Psybrary’s initial focus is on psilocybin derivatives, the MagicMed team is continuously working on expanding this library to include derivatives of ibogaine, ketamine, MDMA, mescaline, and other famously studied psychedelics. By not limiting themselves to just one molecule or set of derivatives, MagicMed can aid in a variety of psychological interventions, from anxiety and depression to addiction and PTSD. Moreover, the Psybrary is a building block from which the industry can develop new patented products. 

Companies can use the Psybrary to screen for nontoxic molecules for a variety of indications, further develop them down the drug pipeline, and do so with the assistance of complementary data. This ultimately expedites products to the market. 

Curious about MagicMed and their psychedelic derivative library? Stream episode one of the PsyFi podcast with Dr. Joseph Tucker, Founder & CEO of MagicMed Industries via YouTube, Spotify, or Apple Podcasts

MagicMed Industries Forms Strategic Research Partnership with the University of Calgary

Part of what makes the Psybrary a sure-fire project is the team that’s working on it. During the tail end of October, it was announced that MagicMed had partnered with the University of Calgary to work on the Psybrary . The company’s agreement with the University of Calgary provides MagicMed access to scientific expertise and world-class research facilities to accelerate the development of the Psybrary.


De-risked Business Model has Driven Massive Interest from Investors and Industry

Early in November, MagicMed announced a $2.5 million offering with Gravitas Securities. The deal offered 5,000,000 MagicMed units at $0.50 per unit. However, this deal was just the beginning of a much larger capital raise.

Even those in the utmost clinical and research-heavy circles must recognize the fantastic capital market impact the Psybrary has had for MagicMed. As a result, the $2.5 million initial financing deal was upsized and oversubscribed to $8.1 million

Are investors simply acknowledging a great idea for psychedelic healing and acting on it? Yes, but that’s not the whole story. Those who have been paying close attention to MagicMed know that the company has created a low risk, high gain investment model – and investors can spot that kind of deal from a mile away. 

MagicMed’s business model will allow multiple partners to simultaneously advance their desired derivative molecules through preclinical and clinical testing. This will provide the company with multiple revenue streams from multiple drug candidates. Furthermore, beyond licensing fees and milestone payments made during the development process, royalties on approved drugs will create long-term blue-sky potential. Their revenue model significantly de-risks the company and provides early revenue streams from multiple partners. MagicMed’s business model has caught the attention of many high-profile investors in the psychedelics space, including The Conscious Fund, by providing a reduced-risk investment opportunity with high return potential.

MagicMed Completes Their Psilocybin Derivatives Portfolio

Their most recently celebrated news – the completion of their psilocybin derivatives patent portfolio and launch of their Candidate Selection Program – is our first glimpse of the Psybrary. On Dec. 22nd, it was announced that MagicMed’s psilocybin derivative patent portfolio was complete. The portfolio includes 12 patent applications for 9 different chemical compound categories with the potential to protect over 125 million individual molecules derived from psylocibin and DMT. Furthermore, the Company had launched a Candidate Selection Program and has synthesized over 100 drug candidates. Ultimately, the patents and initial screening  will not only expedite MagicMed’s partners’ drug candidates to market but also protect the substantial investment that is required to get a candidate through the drug development pipeline to approval.

Plans for 2021

Looking forward to 2021, we can expect MagicMed to build out their psychedelics portfolio including a whole host of new psychedelics. This likely means hundreds of millions of new derivatives and many more patent applications, opening the floodgates for new indications and new partners. Similarly, we can expect MagicMed to onboard their first partner – perhaps multiple first partners. The company is gearing up to go public, and has taken steps to do so by reserving the ticker MGIC with the CSE. Finally, the company may be looking to expand their existing partnership with the University of Calgary, and likewise, expand their own scientific team. Expect MagicMed to add more innovators to their arsenal of experienced team members, which can only bring good news for the new year. 


Solidifying MagicMed’s Status as a Key Player in the Psychedelic Pharmaceutical Industry

If nothing else, MagicMed has positioned themselves to be a significant part of how this industry moves forward. Pharmaceutical libraries are essential to traditional pharma development, and now, for the first time, a company has taken that starting point of an idea and made something overtly expansive and innovative. Perhaps more important, a company has taken on this responsibility period for psychedelic medicine. Academics, investors, and fellow psychedelic companies should all be excited about MagicMed’s strategic execution during what is otherwise possibly the worst close to a decade in living memory! And on that note, MagicMed’s better engineered novel psychedelic drugs may be instrumental in treating the mental health crises brought on by 2020’s ruthless legacy. It will certainly be instrumental as long as MagicMed has something to say about it. 

Microdose Psychedelic Insights

Microdose Psychedelic Insights

Your Guide to the Business of Psychedelics. Our mission is to shift the world's perception of psychedelic medicine.