CALGARY, AB, March 4, 2021 /PRNewswire/ – MagicMed Industries Inc. (CSE: MGIC reserved) (“MagicMed” or the “business”) established a collaboration among the Company, Dr. Suran Goonatilake and Dr. Eric Nyberg, renowned thought leaders in artificial intelligence (
) today. Together the parties are building PsyAITM, a tool designed to provide comprehensive, pharmaceutical design, manufacturing, pharmacology predictive and validating methodologies in an effort to modernize psychedelic medicine.
The Standard candidate that is pharmaceutical procedure is a frequent bottleneck in bringing standard pharmaceutical applicants to promote and will act as a primary determinant of ultimate medical success or failure. This paradigm is very challenging in the psychedelics sector that is pharmaceutical owing to a limited understanding of the mechanisms underlying observed clinical data. Similarly, the correlation between the actual structure that is physical of agents and patient results is unknown. The strict regulatory regimes in position during the last five years have actually just been recently calm and possess inhibited critical research that is basic this sector and put the already challenging drug development process at an even greater disadvantage.
Combining PsyAITM and the PsybraryTM, MagicMed’s large-scale novel molecule creation platform, creates an opportunity to accelerate the development of optimized pharmaceutical candidates, each tailored specifically for difficult-to-treat health that is mental.
MagicMed’s Chief Scientific Officer, Dr. Peter Facchini, reported, “It is an opportunity that is exceptional and indeed and honour, to be allayed with two internationally respected thought leaders in AI, upholding the Company’s core tenet of engaging with industry leaders. Dr. Suran Goonatilake and Dr. Eric Nyberg, whose ground-breaking developments have helped shaped aspects of AI for decades, have agreed to join us in solving a challenge that is fundamental the quest to build up brand new treatments for damaging psychological state conditions”.
Dr. Suran Goonatilake, Visiting Professor, UCL Centre for synthetic Intelligence, and co-founder of April 19 Discovery Inc., has a track record in developing new AI practices and using them to deal with a number of the earth’s most difficult issues. Through their PhD research in smart systems that are hybrid he co-founded SearchSpace (acquired by Warburg Pincus), one of the world’s first AI platforms to detect complex patterns in financial transactions ranging from insider-dealing detection at stock exchanges to money laundering detection at retail banks. Dr. Goonatilake commented, “2021 is an point that is exciting history. Three major procedures are converging: AI-driven drug-discovery, artificial biology therefore the ‘psychedelic renaissance’ to take care of psychological state conditions. It is extremely exciting become during the nexus of the convergence.”
He added, “we have always been honoured to collaborate with Dr. Nyberg to just take MagicMed’s collection of psychedelic substances – PsybraryTM – and use deep-learning ways to go them over the pipeline towards APIs (active pharmaceutical components). We think that every AI module escalates the value of a compound as a therapeutic that is potential leveraging AI systems to replace human scientists and thereby reducing the time and cost to bring a therapeutic to market.”
Dr. Eric Nyberg, Chief Data Scientist at Cognistx (Cognistx.com) and Professor at Carnegie Mellon University, was a member of the original IBM Watson development team and also developed architecture that is scalable multi-strategy question-answering systems. Dr. Nyberg reported, “It is my view that the necessity in culture hasn’t been greater for great minds in the future together and pool resources to resolve a significant and problem that is growing society. I am pleased to have the opportunity to collaborate with Dr. Goonatilake and MagicMed, to build upon a classification and clustering matrix and ultimately deploy a model that is tier-based designs structures, optimizes synthesis procedures, and predicts biophysical properties from receptor binding and pharm/tox right through to patient results in distinct medical indications. I really believe that the necessity for, and therefore value of, the growth of the tool that is new are building to revolutionize the psychedelic medicine sector cannot be overstated.”
Drs. Goonatilake’s and Nyberg’s contributions will be delivered through their companies that are AI April 19 Discovery Inc. and Cognistx, correspondingly.
PsyAITM, PsybraryTM, MagicMedTM, and MagicMed IndustriesTM are trademarks of MagicMed Industries Inc., presented for enrollment in america and Canada.
MagicMed Industries intends to partner with pharmaceutical as well as other businesses to build up and commercialize psychedelic-derived candidates that are pharmaceutical. MagicMed’s psychedelic derivatives library, the PsybraryTM, is anticipated to be an building that is essential from where industry can form brand new patented items. The focus that is initial of PsybraryTM is on psilocybin and DMT derivatives, and it is then expected to be expanded to other psychedelics such as MDMA, LSD, mescaline, and ibogaine.
Founded in 2015, Cognistx is a Pittsburgh-based applied AI company, building multi-strategy systems that are AI customers throughout the U.S. Cognistx create AI-powered pcs that will sense, discover, and work. The business founders are pioneers within the areas of automated question-answering, message processing, computer eyesight, normal language processing (NLP), and used device learning. The group at Cognistx has the capacity to effectively combine and personalize top technologies that are advanced their AI building blocks – to create applications that extract meaningful insights to produce measurable impacts for their clients. Visit Cognistx.com
About April 19 Discovery Inc.
April 19 is an drug-discovery that is AI-driven completely focused on developing and testing novel substances for psychedelic medication. The ‘psychedelic renaissance’ claims to offer much needed treatments to take care of despair, PTSD, anxiety, addiction cessation as well as other health that is mental. Salina is a division of April 19 that is developing biomarkers that are AI-drivene.g. EEG analytics) to automatically identify events that are adversee.g. cardiac arrests) to increase safety in this industry that is emerging. A goal that is long-term to fundamentally change the economics of this new sector by reducing clinical reliance on medical personnel and lower the cost-per-patient within FDA-approved treatment protocols. Visit www.april19.ai
MagicMed Industries Inc.
Dr. Joseph Tucker
Chief Executive Officer
Forward Looking Statements
This press release contains statements that are forward-looking. Forward-looking statements involve understood and risks that are unknown uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place reliance that is undue forward-looking statements. All statements apart from statements of present or fact that is historical forward-looking statements, including statements with respect to MagicMed’s future business plans and partnerships, management’s perception of both Dr. Suran Goonatilake and Dr. Eric Nyberg, their standing in the AI space and the impact their partnership may have on the Company, management’s views regarding the particular challenges in the psychedelics pharmaceutical sector, the anticipated effect that combining PsyAITM and the PsybraryTM will have and the proposed benefits to the psychedelics pharmaceutical sector and the anticipated uses of MagicMed’s patents and the development of the PsybraryTM. Forward-looking statements include words or expressions such as “proposed”, “anticipated”, “will”, “subject to”, “near future”, “in the event”, “would”, “expect”, “prepared to” and other similar words or expressions.
Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the statements that are forward-looking. A number of the dangers as well as other facets might lead to leads to vary materially from those expressed within the forward-looking statements such as, but aren’t restricted to: the capability of MagicMed to secure patent security; the regulatory environment by which MagicMed runs; the capability of MagicMed to enter partnership agreements or other plans; the capability of MagicMed to hold its business plans out (including but not limited to its plans to file a non-offering prospectus and apply to list on a stock exchange) and unforeseen challenges in carrying out such plans; the development and expansion of the PsybraryTM; trends in the future use of psilocybin; general business, economic, competitive, political and social uncertainties; the state of capital markets; risks relating to general economic, market and business conditions; and other unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant. The forward-looking information contained in this news release is expressly qualified by this statement that is cautionary. We disclaim any responsibility to upgrade or revise these statements that are forward-looking except as needed by relevant legislation.(*)SOURCE MagicMed Industries Inc.