MagicMed Industries Inc. (CSE: MGIC reserved) (" MagicMed" or the " Company") announced today that it has completed the establishment of the psilocybin-derivatives patent portfolio of the Psybrary TM and the launch of the Candidate Selection program. The Psybrary TM is a proprietary physical and knowledgebase collection of novel psychedelic-derivative drug candidates, manufacturing methods, pharmacological data, and patent filings that protect all of the above. MagicMed's Chief Scientific Officer, Dr. Peter Facchini, stated "Our psilocybin-derivatives portfolio, which also captures dimethyltryptamine (DMT) derivatives, now includes 12 filed patent applications directed to 9 different chemical compound categories covering over 125 million individual molecules. While we certainly don't expect to synthesize all of these molecules during the development of new drug candidates, I am pleased to announce that, as of today's launch of the Candidate Selection program, we have already synthesized more than 100 distinct psilocybin-derivative drug candidates in our state-of-the-art research and development facilities".