Enveric Envisions Using Mushrooms and Cannabis to Help Patients

Cannabinoid biotech company Enveric Biosciences Inc. (ENVB) recently decided to expand its product offering to its targeted patient group by bringing psychedelic medicine company MagicMed into its fold.

Enveric acquired privately held MagicMed recently in a deal valued at $30 million. Enveric's CEO David Johnson is moving into the Chairman role, while MagicMed's leader, Dr. Joseph Tucker, will be named the new CEO of the combined company.

I had the chance to speak with Dr. Tucker and find out why this cannabis biotech company felt the need to expand into psychedelics.