The all-stock transaction closed Sept. 16, 2021.
A patient-centric biotechnology company developing next-generation mental health and oncology treatments by leveraging psychedelic-derived molecules for the mind and synthetic cannabinoids for the body, Enveric with the acquisition intends to expand into a next-generation neuroscience drug discovery platform of novel psychedelics that addresses the large unmet mental health challenges related to central nervous system (CNS) indications such as cancer-related distress, post-traumatic stress disorder (PTSD), anxiety, depression and pain.
Prior to the acquisition, MagicMed was a privately held Canadian 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.
The deal team was led by Haynes and Boone Partner Rick Werner, co-chair of the firm's Capital Markets and Securities Practice Group, and a pair of Denver-based lawyers – Corporate and Private Equity Partner Dan Malone and Capital Markets and Securities Partner Jason Zachary. Bodie Stewart, a New York-based counsel in the Capital Markets and Securities Practice Group, and associates David Lightstone (Corporate) and Thomas Carroll (Capital Markets and Securities) also assisted throughout the transaction.
Haynes Boone’s Mergers and Acquisitions Practice Group has comprehensive experience handling middle market deals (including in the pharmaceutical and insurance industries), having helped clients close more than 500 transactions in the last five years, with an aggregate value exceeding $40 billion. Lawyers in the firm’s Capital Markets and Securities Practice Group help companies raise capital and comply with evolving securities laws and practices for more than four decades. The team serves as securities counsel to more than 30 public companies ranging in size from small cap companies to large-cap multi-national business entities.
Haynes and Boone, LLP is an international corporate law firm with offices in Texas, New York, California, Charlotte, Chicago, Denver, Washington, D.C., London, Mexico City, and Shanghai, providing a full spectrum of legal services in energy, technology, financial services, and private equity. With 600 lawyers, Haynes Boone is ranked among the largest U.S.-based firms by The National Law Journal, The American Lawyer, and The Lawyer. It was recognized for excellence in the BTI Consulting Group’s 2021 “A-Team” report, which identifies the law firms that in-house counsel commend for providing superior client service.