There has been a sizable increase in psychedelic companies flocking to stock markets to raise capital in the interest of developing their products and.
Enveric Biosciences enters definitive agreement for an all-stock transaction to acquire MagicMed Industries
Once closing is complete, Magic Med CEO Dr Joseph Tucker will be appointed chief executive officer of the enlarged company and David Johnson, chairman and CEO of Enveric will be appointed executive chairman The acquisition of MagicMed will expand and complement Enveric’s current pipeline of naturally occurring compounds, which is primarily focused on cannabinoids, to now include a robust portfolio of psychedelic-derived molecules
Enveric Biosciences Inc. (NASDAQ:ENVB) said it has entered into a definitive agreement for an all-stock transaction to acquire MagicMed Industries Inc., a privately-held biotechnology company focused on creating a library of novel derivative psychedelic molecules such as psilocybin, N,N-dimethyltryptamine (DMT) and other molecular derivatives with applications across multiple indications.