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Enveric Biosciences Announces Closing Of Magicmed Industries Acquisition

Sep 18, 2021•over 4 years ago

Acquiring Company

Enveric Biosciences

Acquired Company

Enveric Biosciences

NaplesNaplesHealthcareHealthcare

Description

Enveric Biosciences (NASDAQ: ENVB) ("Enveric" or the "Company"), a patient-centric biotechnology company developing novel cannabinoid medicines to improve quality of life for cancer patients, today announced the closing of its acquisition of MagicMed Industries Inc. ("MagicMed"), 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, in an all-stock transaction.

Company Information

Company

Enveric Biosciences

Location

4851 TAMIAMI TRAIL N, SUITE 200

Naples, Campania, Italy

About

Enveric Biosciences (NASDAQ: ENVB) is an innovative biotechnology company developing a next-generation mental health and oncology treatment clinical discovery platform, leveraging psychedelic-derived molecules for the mind and synthetic cannabinoids for the body. Enveric's robust pipeline supports drug development from the clinic to commercialization for millions of patients in need around the world suffering from conditions that include cancer-related distress, PTSD and more. For more information, please visit www.enveric.com.

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M&A Insights

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