The psychedelic drug market is projected to grow at a compound annual growth rate of 16.3% over the next eight years to reach $6.85 billion by 2026, according to Data Bridge Market Research. With the potential to treat a wide range of mental health disorders, several organizations are already conducting clinical trials in the space.
Let’s take a look at MagicMed’s Psybrary™, the current stage of development and how it could revolutionize psychedelic drug discovery.
What is the Psybrary™?
MagicMed’s Psybrary™ is a portfolio of psychedelic molecules and the patents that protect them. While the company is focused on psychedelic drug discovery, the goal is to license these molecules to biotech or pharmaceutical companies for clinical development (where it will earn milestone payments), and ultimately, commercialization (where it will earn royalties).
MagicMed CEO Dr. Joseph Tucker explains its proprietary Psybrary™
The company combines synthetic biology—or taking enzymes from nature and using them to make modifications to molecules—with classic chemistry to create thousands of novel psychedelic molecules. These molecules are protected by both composition of matter and method of manufacturing patents to build a robust and defensible portfolio.
With years of experience in developing innovative production methods for plant-derived pharmaceuticals, the company has built a strong foundation of novel molecules based on psilocybin and ayahuasca. Management is ready to work with commercial partners to commercialize these molecules while pursuing new molecules based on MDMA, ketamine, ibogaine and other types of psychedelic molecules over the next 12 months.
A Unique Business Model
MagicMed’s management team is focused on psychedelic drug discovery—the first part of the drug development process. With experience in developing opiates, cannabinoids and ephedra derivatives, the company is uniquely positioned to leverage its decades of experience and proprietary methods in the psychedelic industry.
CEO Dr. Joseph Tucker discussed present and future opportunities for business partners
Dr. Peter Facchini has published more than 160 scientific papers and holds 20 patents in the molecular derivatives field. Meanwhile, Dr. Jillian Hagel has held COO and VP roles across the biotech industry where she was instrumental in building patent portfolios and coordinating partnerships to drive significant long-term value for shareholders.
The company’s business model is unique because, once it develops a new molecule—which it is doing for thousands of molecules—there’s little additional capital costs. By licensing the molecule, the company shifts the risk of development and commercialization to another business while retaining milestone payments and potential royalties on sales.
MagicMed Industries is uniquely positioned to capitalize on the growing demand for psychedelic treatments for various mental illnesses. With its innovative business model, shareholders could benefit from a diverse range of high-margin recurring revenue streams.
The company hopes to onboard its first partner this year while targeting a public listing during the first or second quarter of next year when it achieves a positive cash flow. In 2022, management hopes to start receiving milestone payments and potentially diversify into the large and growing licit consumer goods industry.
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