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  6. Enveric Biosciences Acquires MagicMed Industries

M&A Deal Summary

Enveric Biosciences Acquires MagicMed Industries

On May 24, 2021, Enveric Biosciences acquired life science company MagicMed Industries

Acquisition Highlights
  • This is Enveric Biosciences’ 1st transaction in the Life Science sector.
  • This is Enveric Biosciences’ 1st transaction in Canada.
  • This is Enveric Biosciences’ 1st transaction in Alberta.

M&A Deal Summary
Date 2021-05-24
Target MagicMed Industries
Sector Life Science
Buyer(s) Enveric Biosciences
Deal Type Add-on Acquisition

Target

MagicMed Industries

Calgary, Alberta, Canada
MagicMed Industries is a 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. MagicMed Industries is based in Calgary, Alberta.

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Buyer(S) 1

Buyer

Enveric Biosciences

Naples, Florida, United States
Category Company
Sector Life Science
Employees5
Revenue 40M USD (2019)
DESCRIPTION

Enveric Biosciences is a patient-first biotechnology company developing rigorously tested, novel cannabinoid medicines to improve quality of life for cancer patients. Initial indications include radiodermatitis, a common and often severe side effect of radiation therapy, and chemotherapy-induced neuropathy. Enveric Biosciences is based in Naples, Florida.

DEAL STATS #
Overall 1 of 1
Sector: Life Science M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Alberta M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2021 M&A 1 of 1
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