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Procaps Group is a leading pharmaceutical and healthcare company based in Latin America with global reach, well positioned to drive regional consolidation. The Company is the largest pharmaceutical integral CDMO (iCDMO) in Latin America and top three globally in volume of softgel production capacity.1 An in-house R&D delivers unparalleled expertise and innovation with 500+ formulations, and 50+ new products per year. Six manufacturing facilities in Latin America including the first FDA-approved pharmaceutical plant on continent support its products that are sold and distributed in over 50 worldwide markets.
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The company said it intends to use the proceeds from the private placement to fund acquisitions, as working capital purposes and for fees associated with the listing of its shares
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The firm also launched its Candidate Selection program, which will zero in on the molecules that MagicMed believes have the best characteristics to become pharmaceutical drugs
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The company also said it will increase its previously-announced private placement financing to C$4.5 million due to increased demand
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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 team is using this cash injection to “expedite and amplify” development of the MagicMed Psybrary
The funds will help expand MagicMed’s Psybrary, a molecular derivatives library designed to be a key platform for the psychedelics industry to develop new patented products
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MagicMed’s Psybrary is a molecular derivatives library designed to be a key platform for the psychedelics industry to develop new patented products
The company expects the filing to be the first in a series of applications that together are designed to protect its portfolio of novel derivatives known as the Psybrary
