MagicMed: Bringing the Drug Candidate Library Model to Psychedelics
Ash Stringer
January 20th, 2021
App, Exclusive, Psychedelics, Top News
The psychedelics market is often described as “emerging”, “burgeoning”, and other similar words, and while certainly true to a large extent, investors shouldn’t think for a moment this is all new. It’s far from it. There are scores of clinical and preclinical data to leverage, most collected before the Controlled Substance Act was enacted in 1970. There are also proven business strategies to smoothly transition traditional pharmaceutical operations into what could appropriately be called “modern psychedelics,” or even psychedelics 2.0.
Against this backdrop, there is plenty of reason to be optimistic that psychedelics can provide a meaningful therapeutic benefit for notoriously hard-to-treat diseases, such as depression, addiction and PTSD where currently approved drugs – along with their risky side effects – do more to mask symptoms than treat disease. As it happens, the psychedelic space is already seeing horizontal and vertical expansion, with numerous companies studying different compounds for different indications via different delivery systems.
One key to bringing new drugs to market resides in the genesis of drug discovery and development of novel molecules. Capturing a substantial portion of the big pharma market potential is the goal of MagicMed Industries Inc. (CSE: MGIC reserved), which is bringing the practice of creating a library of molecular derivatives to the psychedelics sector.
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Tried and True Model
Making a library of molecules is not a new concept in the pharmaceuticals space; it has been going on for decades as an essential tool used by biotech and pharma to discover new treatments for a broad array of maladies. In today’s highly targeted therapeutics market, molecular diversity remains a hot button area of focus in the pharmaceutical industry and chemical sciences.
Plus, while compounds found in nature are public domain and can’t be patented, new molecules created synthetically do have the highly desirable benefit of being protectable with patents.
In the simplest sense, a library is generated by beginning with a single core molecule – generally called an “active moiety” by FDA standards – and modifying it or combining it with other building blocks. While in layman’s terms it may sound basic, it is an extremely complex and expansive process, with an essentially infinite number of possible derivatives and combinations. Today, drug makers turn to libraries containing up to thousands of molecules in a bid to identify the ideal candidate molecule to safely, effectively and precisely target a specific disease or condition.
Take, for instance, the scramble for a therapeutic for COVID-19 within the last year. Molecular libraries and modern screening procedures allowed researchers to quickly scour through drug candidates to identify those suitable for additional studies. In the case of Innovation Pharmaceuticals (OTCQB: IPIX), the company said in April that researchers at a U.S. Regional Biocontainment Lab selected a group of drug candidates for additional work after screening over 11,500 possible compounds.
To that end, the value add becomes evident to supplement a library of core and derivative molecules with a selection process to meet customer demands.
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The Psybrary™
While most companies in the psychedelic business are ensconced in the high risk/high reward business of drug development, MagicMed is aligning as a critical ancillary business by taking the lead in amassing a library of core molecules and derivatives. The initial thrust of the company’s efforts has been focused on derivatives of psilocybin (found in “magic mushrooms”) and DMT (N,N-Dimethyltryptamine, isolated from various plants), two psychedelic compounds highly touted for their potential across a spectrum of diseases and conditions resistant to conventional drugs.
MagicMed has built a robust derivatives library based on these compounds, adding them to what has been aptly branded the “Psybrary™”, a proprietary physical and knowledgebase collection of novel psychedelic-derivative drug candidates, manufacturing methods, pharmacological data, and patent filings. Management is doing what it does best to become a first mover, leaning on over 25 years’ experience in creating and patenting new molecular derivatives in the fields of opiates, cannabinoids and ephedra.
The shelves of the Psybrary™ will be filled through multiple channels. To that point, the IP estate is being built, so far including 12 filed patent applications directed to 9 different chemical compound categories covering over 125 million individual molecules.
Further, the company has launched a “Candidate Selection” program to partner with others in the development of Psybrary™ drug candidates. So far, more than 100 distinct psilocybin-derivative drug candidates have been synthesized at the company’s state-of-the-art R&D center in Calgary.
Driving in a Footrace
MagicMed, while a relatively recent entrant to the competitive race underway in the psychedelics sector, has already established the leadership position in a less-trafficked yet highly valuable market segment, and has done so with a time tested, pharma-friendly business model. The company’s laser focus on delivering much-needed patentable drug candidate diversity could in fact catapult MagicMed into the pole position.
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This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
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