As the psychedelic renaissance barrels forward, the lion’s share of capital and investor interest is in drug development. Since naturally occurring psychedelic compounds, such as psilocybin, cannot be patented, there is a real need for novel, patentable drugs in this space. One company poised to make a profound impact in psychedelic drug development is MagicMed Industries. Having recently completed, and oversubscribed, its previously announced brokered private placement (the “Offering“) for gross proceeds of $1,642,880, psychedelic industry experts are keenly observing their next steps. To help gain a better understanding of MagicMed’s overall strategy, here are three key takeaways from their engaging talk at Psychedelic Capital given by their dynamic CEO, Dr. Joseph Tucker.  

Listen to Dr. Joseph Tucker’s full talk at Psychedelic Capital here!

MagicMed Psybrary psychedelic derivative library

 

Key Takeaway #1: A New Way Forward in Psychedelic Medicine: Collaboration, Not Competition!


MagicMed Industries intends to strategically partner with pharmaceutical and other companies to develop psychedelic-derived medicinal and licit consumer goods and products. Their unique approach to psychedelic drug development positions them to form strategic partnerships with the other players in the emerging psychedelic medicine space instead of viewing them as competitors. Their goal is to work with and enable as many other companies in the space to succeed as possible. This dedication to partnership and collaboration is based on the belief that the more the entire sector succeeds the more they will succeed–a sentiment we can all benefit from adopting. By establishing multiple, diversified partnerships, they help derisk their drug development business strategy in a powerful way. With over seven years of experience in forming diverse partnerships in the opioid, amphetamine and cannabinoid drug development space, MagicMed has the experience and leadership to make a powerful impact.

In the early days, these partners will cover research and drug development costs. By forming diverse partnerships, MagicMed is avoiding the traditional “one molecule, one market” approach, which is significantly riskier when attempting to take new drugs to market. Once new molecules move forward down the pipeline, MagicMed is in the uniquely advantageous position to capture milestone payments and ultimately, once the molecule is commercialized, earn a royalty stream as well. This innovative business model allows MagicMed to still retain the “big pharma, blue sky upside” from pharmaceutical development without the significant capital risk that is generally involved.

 

magicmed industries partnerships psychedelic drugs

Key Takeaway #2: The Psybrary: A Psychedelic Derivative Library Set to Revolutionize Medicine


Molecules derived from nature that have very powerful pharmaceutical applications often need to be improved before they can be commercialized. Furthermore, since natural compounds, such as psilocybin (the active ingredient in magic mushrooms) cannot be patented, there is a need for an innovative approach to drug development in this field. The MagicMed psychedelic derivative molecular library, also known as the Psybrary, offers a radically promising solution to this challenge by developing novel and patentable compounds.

“The MagicMed Psybrary encompasses the patent portfolio and psychedelic derivative molecules that we offer as an acceleration platform to partner companies in this developing industry,” said MagicMed CEO, Dr. Joseph Tucker.  “Each derivative molecule in the Psybrary is a potential patented drug development candidate for our future biotech and pharmaceutical partners.” This core asset of MagicMed allows them the powerful ability to craft new patentable psychedelic molecules based on traditional ones and wrap intellectual property around them. The strategy is to advance the construction of these psychedelic derivatives through the aforementioned strategic partnerships, enabling not only MagicMed’s success, but the entire industry at large.

Learn more about MagicMed’s cutting-edge “plant-to-pill” pathway in this evidence-based review.

 

Psybrary psychedelic derivative library

Key Takeaway #3: Starting With Psilocybin and Opportunistically Expanding to Other Psychedelics


While the initial focus of the MagicMed Psybrary is on psilocybin-based derivatives, future molecules will be based off of other psychedelic compounds such as MDMA, ibogaine, mescaline, LSD, DMT and ketamine. Recent studies have uncovered the powerfully therapeutic benefits of psilocybin and helped it garner the coveted “breakthrough therapy” status by the United States Food & Drug Administration. This early focus on psilocybin by the team at MagicMed holds incredible promise based on the current research and opens up several avenues for unique and strategic partnerships in the space. However, the team at MagicMed recognizes that psilocybin based derivatives are only one of the many exciting avenues forward in the future of psychedelic medicine. By derivatizing and optimizing a host of traditional psychedelic compounds, from psilocybin to MDMA and beyond, the team at MagicMed is powerfully positioning themselves at a derisked and diversified advantage in this industry. 

psilocybin mdma lsd ketamine dmt

 

The team at MagicMed Industries is taking an innovative approach to psychedelic drug design by combining cutting-edge science with a conscious and strategic business model that stands to benefit the entire industry. By engaging in strategic collaboration instead of capital-driven competition, countless new opportunities will become available to this emerging industry. Through further development of the Psybrary in conjunction with critical academic and corporate partnerships, MagicMed Industries is poised to powerfully shape the emerging landscape of psychedelic medicine and is certainly a company everyone should keep their eyes on. 

 

magicmed industries