MagicMed Industries Inc is teaming up with the University of Calgary to boost the development of the firm’s Psybrary, a molecular derivatives library.
The Calgary-based company announced Friday that it entered into a research contract and facilities use agreement with the university, giving it further scientific and laboratory support.
In a statement, MagicMed said it will be able to leverage state-of-the-art equipment and laboratory space and draw upon the institution’s “world class” expertise.
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"The additional resources that the University of Calgary is providing to MagicMed complement and enhance our strengths," Joseph Tucker, CEO of MagicMed said in a statement.
"This collaboration places MagicMed in a position to expand the breadth and depth of the psychedelic derivatives contained in the MagicMed Psybrary.”
The University of Calgary’s associate vice president, research and innovation Dr Steve Larter said that the group is excited about the new partnership.
"Partnerships like this combine frontline discovery with providing real solutions to society and create opportunities for our researchers and students to help bring cutting-edge knowledge to market,” Larter said.
The agreement should accelerate the Psybrary development process, according to MagicMed.
The Psybrary is being developed as a building block for various industries develop new patented products. The initial focus of the Psybrary is on psilocybin, which is expected to be opportunistically expanded to other psychedelics like MDMA, ketamine, ibogaine, mescaline, and ayahuasca.
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