The construction of the polysubstituted 1H,3H‐2‐oxa‐4‐azaphenalene 4 by means of consecutive oxa‐Pictet−Spengler and Jackson cyclizations is reported. This compound contains the ABC ring system of the novel isoquinoline alkaloids stephaoxocanidine and eletefine, found in Stephania cepharantha and Cissampelos glaberrima. Both these species are Menispermaceæ used in folk medicine in the Far East and Brazil. (© Wiley‐VCH Verlag GmbH & Co. KGaA, 69451 Weinheim, Germany, 2003