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MagicMed Industries Announces Collaboration with Artificial Intelligence Thought Leaders and the Launch of PsyAI

MagicMed Industries Inc. announced a collaboration among the Company, Dr. Suran Goonatilake and Dr. Eric Nyberg, renowned thought leaders in artificial intelligence (AI). Together the parties are building PsyAI, a tool designed to provide comprehensive, pharmaceutical design, manufacturing, pharmacology predictive and validating methodologies in an effort to modernize psychedelic medicine.

The standard pharmaceutical candidate screening process is a consistent bottleneck in bringing standard pharmaceutical candidates to market and acts as a primary determinant of eventual clinical success or failure. This paradigm is particularly challenging in the psychedelics pharmaceutical sector, owing to a limited understanding of the mechanisms underlying observed clinical data. Similarly, the correlation between the actual physical structure of psychedelic agents and patient outcomes is unknown. The strict regulatory regimes in place for the last five decades have only recently been relaxed and have inhibited critical basic research in this sector and put the already challenging drug development process at an even greater disadvantage.

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Combining PsyAI and the Psybrary, 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 mental health indications.

MagicMed’s Chief Scientific Officer, Dr. Peter Facchini, stated, “It is an exceptional opportunity, 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 fundamental challenge: the quest to develop new therapies for devastating mental health conditions”.

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Dr. Suran Goonatilake, Visiting Professor, UCL Centre for Artificial Intelligence, and co-founder of April 19 Discovery Inc., has a track record in developing new AI methods and applying them to address some of the world’s hardest problems. Through his PhD research in intelligent hybrid systems, 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 exciting point in history. Three major disciplines are converging: AI-driven drug-discovery, synthetic biology and the ‘psychedelic renaissance’ to treat mental health conditions. It’s very exciting to be at the nexus of this convergence.”

He added, “I am honoured to collaborate with Dr. Nyberg to take MagicMed’s library of psychedelic compounds – Psybrary – and apply deep-learning methods to move them along the pipeline towards APIs (active pharmaceutical ingredients). We believe that every AI module increases the value of a compound as a potential therapeutic by 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 and Professor at Carnegie Mellon University, was a member of the original IBM Watson development team and also developed scalable architecture for multi-strategy question-answering systems. Dr. Nyberg stated, “It is my view that the need in society has never been greater for great minds to come together and pool resources to solve a serious and growing problem in 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 tier-based model that designs structures, optimizes synthesis processes, and predicts biophysical properties from receptor binding and pharm/tox through to patient outcomes in distinct clinical indications. I believe that the need for, and thus value of, the development of this new tool we are building to revolutionize the psychedelic medicine sector cannot be overstated.”

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