MagicMed enters the huge psychedelics market

The psychedelic market is difficult to calculate because of the undiscovered therapeutic potential of psychedelic molecules. The scientific community has shown that psychedelics could target several multibillion dollar markets in brain and mental health. MagicMed Industries positions itself to capture portions of any market by developing a unique, patented portfolio of intellectual property that protects multiple drug candidates, manufacturing methods and therapeutic uses. Psychedelics have immense potential for treating various diseases. Several scientific studies and clinical trials based on psychedelics show promising data for the treatment of many mental illnesses. These include diseases and disorders such as addiction, Alzheimer's, anxiety, depression, and attention deficit hyperactivity disorder (ADHD). According to IQVIA's 2020 global annual sales report and an addiction report, the annual worldwide drug sales and treatment market for addiction, anxiety, depression and ADHD alone is approximately $ 60 billion. An example of the effects psychedelic molecules could have on mental health is shown by a recent study by Johns Hopkins. In this study, psilocybin was found to provide rapid and permanent reductions in depressive symptoms in patients suffering from major depression. Despite the promising results, psychedelic pharmaceuticals need to be modified in order to achieve fewer side effects, better efficacy and applicability outside the clinic. MagicMed Industries (CSE: MGIC - reserved) is well positioned to enter the multibillion dollar brain and mental health markets by developing a patented library of drug candidates called Psybrary ™. The Psybrary ™ is based on familiar psychedelic molecules such as psilocybin and DMT, but the molecules have been chemically modified to create improved drug candidates. MagicMed can screen its large library of creations to find new drug candidates that are best suited for the treatment of a particular disease. MagicMed's currently has a patent portfolio of psilocybin derivatives that also includes dimethyltryptamine (DMT) derivatives. The patent portfolio includes 12 patent applications for 9 different chemical compound categories with the potential to protect over 125 million individual molecules. The company has currently synthesized over 100 drug candidates and launched the candidate selection program to initiate partnerships and pharmacological testing to maximize their market participation. With an innovative business model and an extensive library of improved, patented drug candidates, MagicMed will have the opportunity to participate in a number of the multi-billion dollar markets that psychedelic drugs could serve.