MagicMed Industries Inc Archives - Green Market Report

StaffJuly 30, 2021
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4min15360

Dr. Joseph Tucker is a seasoned executive who has built several publicly traded biotechnology companies. Dr. Tucker was a founder and Chief Executive Officer of Stem Cell Therapeutics, which he took public on the TSX (TSX: SSS). Trillium Therapeutics (NASDAQ: TRIL, TSX: TRIL) acquired Stem Cell Therapeutics in 2013. Dr. Tucker has also held the position of Co-Founder and Chief Executive Officer of Epimeron Inc., a University of Calgary start-up acquired in the creation of Willow Biosciences Inc. (TSX: WLLW). At Willow, Dr. Tucker served as Executive Chairman and Chief Operating Officer. Prior to founding companies, Dr. Tucker was a healthcare analyst with two investment banks and has also worked in technology commercialization for a university technology transfer office. Dr. Tucker received his Ph.D. in Biochemistry and Molecular Biology from the University of Calgary.

GMR Executive Spotlight Interview Q&A:

Full Name:  Joseph Tucker

Title:  CEO

Company:  MagicMed Industries Inc.

Years at current company: 1 – since inception

Most successful professional accomplishment before psychedelics:  I founded and took public both Stem Cell Therapeutics (TSX:SSS, now NASDAQ:TRIL) and Epimeron Inc. (now TSX:WLLW, Willow Biosciences).

Company Mission:  To unlock the full potential of psychedelic-derived medicines for the treatment of neurological and psychological indications.

Company’s most successful achievement:  Within one year of the founding of MagicMed (May 2020), we raised $10M, filed 15 patent applications, created the PsybraryTM and PsyAITM, and entered into a definitive agreement to merge into Enveric Biosciences (NASDAQ: ENVB) in an all stock transaction.   

Has the company raised any capital (yes or no): Yes

if so, how much?:  $10M 

Any plans on raising capital in the future?  Yes.  The merger with Enveric Biosciences (NASDAQ:ENVB) enables us to take our best new psychedelic drug candidates through clinical trials ourselves.  This will require further capital raising, which will be facilitated through our NASDAQ listing.  Two investment banks have launched coverage already.

Most important company 5 year goal:  We intend to build and advance through clinical trials a robust pipeline of drug candidates to meet numerous critical unmet medical needs. We expect to have a portfolio of approximately five separate new drug candidates advancing through varying stages of clinical development within 5 years.


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