- MagicMed Industries Inc. announced today that it has completed the establishment of the psilocybin-derivatives patent portfolio of the PsybraryTM and the launch of the Candidate Selection program.
- The PsybraryTM is a proprietary physical and knowledgebase collection of novel psychedelic-derivative drug candidates, manufacturing methods, pharmacological data, and patent filings that protect all of the above.
MagicMed Industries Inc. (CSE: MGIC reserved) (“MagicMed” or the “Company”) announced today that it has completed the establishment of the psilocybin-derivatives patent portfolio of the PsybraryTM and the launch of the Candidate Selection program. The PsybraryTM is a proprietary physical and knowledgebase collection of novel psychedelic-derivative drug candidates, manufacturing methods, pharmacological data, and patent filings that protect all of the above.
Our psilocybin-derivatives portfolio, which also captures dimethyltryptamine (DMT) derivatives, now includes 12 filed patent applications directed to 9 different chemical compound categories covering over 125 million individual molecules. While we certainly don’t expect to synthesize all of these molecules during the development of new drug candidates, I am pleased to announce that, as of today’s launch of the Candidate Selection program, we have already synthesized more than 100 distinct psilocybin-derivative drug candidates in our state-of-the-art research and development facilities.”
Dr. Peter Facchini – MagicMed’s Chief Scientific Officer
MagicMed’s Intellectual Property Advisor, Dr. Harm Deckers, continued, “Filing this broad portfolio of patent applications is an important moment for the Company. Now that these patent applications claiming composition, manufacture, and methods of use are on file with the U.S. Patent and Trademark Office, international patent treaties prevent worldwide the issuance of claims to other parties, should any file patent applications in the future on any of these 125 million molecules”.
Mental illness is a ubiquitous human experience and an insufficiently addressed medical need. Psychedelic-associated therapies offer an alternative to ineffective treatments, yet the psychedelic-based drugs themselves require improvement to achieve reduced side effects, better efficacy, and broader patient access. The mission of MagicMed is to develop the PsybraryTM to deliver such much needed improved drug candidates to its biotechnology and pharmaceutical partners.
About MagicMed
MagicMed Industries intends to partner with pharmaceutical and other companies to develop and commercialize psychedelic-derived pharmaceutical candidates. MagicMed’s psychedelic derivatives library, the PsybraryTM, is anticipated to be an essential building block from which industry can develop new patented products. The initial focus of the PsybraryTM is on psilocybin and DMT derivatives, and it is then expected to be expanded to other psychedelics such as MDMA, LSD, mescaline, and ibogaine.