December 23rd, 2020
App, Exclusive, Psychedelics, Top Story
The psychedelics market is hard to calculate because of the undiscovered therapeutic potential of psychedelic molecules. The scientific community has shown that psychedelics could treat multiple multibillion-dollar markets in the brain and mental health space. MagicMed Industries positions itself to capture portions of each market by developing a unique, patent-protected intellectual property portfolio that safeguards multiple drug candidates, manufacturing methods, and therapeutic uses.
Massive Market Potential
Psychedelics have immense potential to treat several illnesses. Multiple psychedelic based scientific studies and clinical trials show promising data to treat many mental health indications. This includes diseases and disorders like Addiction, Alzheimer’s, Anxiety, Depression, and Attention Deficit Hyperactivity Disorder (ADHD). According to IQVIA’s 2020 global annual sales report and an Addiction review the annual global drug sales and treatment market for Addiction, Anxiety, Depression and ADHD are approximately $60 billion alone.
One example of the impact psychedelic molecules could have on mental health is shown in recent research by Johns Hopkins. This study found that psilocybin produced a rapid and lasting reduction in depressive symptoms in patients suffering from Major Depression. Despite the promising results, psychedelic pharmaceuticals need to be modified to have fewer side effects, better efficacy, and out of clinic applicability.
MagicMed Industries (CSE: MGIC – reserved) is well positioned to participate in the multibillion-dollar brain and mental health markets by creating a patent protected library of drug candidates called the PsybraryTM. The PsybraryTM is based on known psychedelic molecules like psilocybin and DMT, but the molecules have been chemically modified to create improved drug candidates. MagicMed can screen their large library of creations to find new drug candidates that are best suited for the treatment of a particular disease.
Currently, MagicMed’s has established a psilocybin-derivatives patent portfolio that also captures 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.
Using an innovative business model and a vast library of improved, patent-protected drug candidates, MagicMed will have the ability to participate in a number of the multibillion-dollar markets that could be served by psychedelic drugs.
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The Importance of a Strong Patent Portfolio
Strong patent portfolios can be the most valuable asset of a business because patent rights offer the right to exclude others from making, using, or selling a company’s patented products. This means patents provide a company with a time-limited market monopoly. A strong patent portfolio is what could make a successful company in the psychedelics space.
It is difficult to build a strong intellectual property portfolio around psychedelics like psilocybin because they are naturally occurring molecules. The structure of naturally occurring molecules cannot be patented, so companies patenting these technologies must rely on patents that protect manufacturing methods and therapeutic uses. MagicMed’s intellectual property strategy focuses on developing novel psychedelic derivatives because it allows them to patent the structure of the drug candidates, the manufacturing methods, and the therapeutic uses.
Patent rights are critical in the biotechnology and pharmaceutical industries because of long development timelines and the high financial cost to bring a product from the laboratory to market. Patent rights reward innovative companies and investors with a protected monopoly for taking on the time and financial risks associated with the development of life-saving medications. Given the size of the psychedelics market, the companies with the strongest intellectual property portfolios will be rewarded handsomely if their technologies reach the market.
Diverse Business Model
MagicMed Industries (CSE: MGIC – reserved) recently launched its Candidate Selection program to bring its Psybrary™ to market. As interest in psychedelic therapeutics grows, the company is well-positioned to license its unique library to drug development companies that want to capture a piece of a growing and underserved market that could be worth more than $60 billion.
Drug development companies can license different derivative molecules from the Psybrary™ to shorten their development process and bring patentable therapeutics to market sooner. With novel compounds, manufacturing methods, pharmacological properties, and patent filings in place, the company’s partners can focus on what they do best—running clinical trials and securing approvals. This unique business model makes MagicMed a facilitator to the entire psychedelics industry and could allow MagicMed to maximize its market potential.
MagicMed is well-positioned to capitalize on its diverse derivative library as we see a resurgence of interest in psychedelics. MagicMed plans to expand its Psybrary™ to contain other psychedelics derivatives and their associated patent portfolios. The vast library of patented drug candidates will surely position the Company as a leading provider of psychedelic drug candidates for biotechnology and pharmaceutical companies to draw upon.
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