MagicMed Sets Out to Help Partners Develop Pharma-Grade Psychedelics
Ryan Allway
July 22nd, 2020
App, Exclusive, Psychedelics, Top Story
The psychedelics industry is projected to grow at a 16.3% compound annual growth rate to reach $6.85 billion, according to Data Bridge Market Research, driven by the increasing prevalence of mental health disorders and a growing acceptance of psychedelic drugs for the treatment of these diseases. With more than 15 publicly traded companies, investors have a growing number of options targeting the space.
MagicMed Industries is taking one of the most innovative approaches, developing derivative psychedelic molecules using its proprietary scientific tools. These derivatives will form a library of sorts—called the Psybrary™—that partners can search, select, test and use as building blocks for their own products.
Let’s take a closer look at the company’s unique business model and why the management team is uniquely qualified to execute on those plans.
Building Mainstream Molecules
MagicMed works with pharmaceutical or consumer product companies looking to accelerate their psychedelic product lines. While natural psychedelic molecules cannot be patented as molecular composition, new molecular derivative compositions are patentable. The company’s Psybrary™ represents a collection of these derivatives that its partners can license to create a competitive edge.
In the pharmaceutical space, the company seeks to create improved molecules that work best for mainstream pharmaceuticals. The team is focused on formulating the right molecules, building a patent portfolio around them, and licensing the molecules out to large pharmaceutical companies that can push them through clinical trials, manufacture, and deliver them to patients at scale.
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The business model is attractive for investors because the company works with numerous partners—diversifying risk— and generates revenue with very little cost. Partners pay fixed and variable costs for drug development plus milestone payments, enabling the company to quickly reach positive cash flow. Long-term royalties then create larger blue-sky opportunities at attractive margins.
Experienced Board & Management
MagicMed’s management team has a wealth of experience with both cannabinoids and opioids—two other molecules that affect the human brain. Like cannabinoids and opioids, psychedelics impact receptors in the brain that have different effects on people. The management team has now turned its focus and extensive expertise to the psychedelics market.
Dr. Joseph Tucker built several publicly traded biotechnology companies before becoming MagicMed’s Chief Executive Officer. While Dr. Tucker is focused on partnerships, capital raising and the pursuit of a successful exit strategy, Chief Operating Officer Dr. Jillian Hagel is leveraging her experience as COO and VP at several biotech companies to lead the science team in reaching partner milestones.
The company’s science team is led by Chief Science Officer Dr. Peter Facchini, who has held a similar role at many other public and private biotech firms. As a recognized expert in developing new molecular derivatives, Dr. Facchini has published more than 160 scientific papers and holds 20 patents in the field. His singular goal is to create patented psychedelic derivatives to bring to market.
Click the image to view an interview with CEO, Dr. Joseph Tucker
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Looking Ahead
MagicMed Industries is uniquely positioned to capitalize on the nascent psychedelics industry with its innovative business model and capable management team. As of July, the company has raised $600,000 and plans on a public listing during the first or second quarter of 2021. Management will use the proceeds from a public listing to further increase partners and potentially diversify into consumer goods.
If you’re interested in becoming an early-stage investor, download the company’s investor presentation and sign up to receive more information.
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About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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