Wuhan General Group (China), Inc. (OTC Pink: WUHN), through its wholly-owned subsidiary MJ MedTech, operates as a nutraceutical biotechnology company that is focused on research, development, and commercialization of CBD products. Shares of the CBD nutraceutical company surged 40% during trading on Friday, April 5, 2019. Over the past month, Wuhan General Group has seen average daily volume of 20,909 shares. However, volume of 39,406 shares or dollar volume of $9,378, exchanged hands during trading on Friday.
Shares of Wuhan General Group jumped on Friday, after the company announced that its MJ MedTech subsidiary is looking for opportunities to enter the psychedelic mushroom medicine market. A newly-created division, M2BIO, will be led by Wuhan’s Chief Medical Officer, Dr. Anna Morera Lorelta. Psilocybin is the naturally-occurring compound in “magic mushrooms,” which provides the psychedelic effects. Recent research studies by notable institutions (including Johns Hopkins), have seen success in using Psilocybin to treat mental illnesses, such as depression, anxiety, post-traumatic stress disorder (PTSD), drug addiction, etc. Here is the full press release detailing of looking for Psilocybin opportunities:
Wuhan General Group (China), Inc. Press Release:
BARCELONA, Spain, April 05, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE — Wuhan General Group (China), Inc. (OTC PINK: WUHN) (the “Company” and “Wuhan”), announced today that its subsidiary MJ MedTech, Inc. (MJ MedTech) has created a new division dedicated to exploring opportunities in the psychedelic medicine space. The new division, M2BIO will be headed up by Wuhan’s CMO, Dr. Anna Morera Lorelta.
Psilocybin therapy is a medical practice in which psilocybin, a psychoactive medicine, is administered to a patient during a session supported by a therapist. A psychoactive medicine is one that affects brain function and results in a change in cognition, perception or behavior.According to Dr. Anna, psychedelic medicine is experiencing a remarkable revival in the wake of recent research studies and positive findings from great institutions, such as Johns Hopkins. Researchers are having great success in treating depression, post-traumatic stress disorder (PTSD), anxiety and certain addictions with Psilocybin, the active naturally occurring psychedelic pro-drug compound produced by specific mushrooms, known as “magic mushrooms”.
”Psilocybin has become a very promising candidate for future treatments for anxiety and depression because it appears to disrupt the sorts of engrained brain activity patterns that are the hallmark of those diseases.” Said Dr. Anna.
“Just like it took time for the regulators to get behind marijuana, we believe the same will happen with “magic mushrooms” in due course. We want to be far ahead of the curve and become pioneers in the market, collaborating with legislative bodies to help find better and healthier solutions,” added MJ MedTech CEO, Jeff Robinson.
The new division, M2BIO aims to develop new therapies that will help patients who suffer from mental illness and ease the burden on healthcare systems globally. This division will be exploring additional indications for psilocybin, with the goal of bringing new therapies to market in the years to come.
About Wuhan General Group (China), Inc.
Wuhan General Group (China), Inc. through its wholly-owned subsidiary MJ MedTech is a nutraceutical biotechnology company that owns, develops and commercializes a range of CBD-based products. At Wuhan, our mission is to advance CBD-based medicine to the forefront by deploying best practice science and medicine, clinical research and emerging technologies.
Forward-Looking Statements:
Safe Harbour Statement – In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company’s website. The Company disclaims any responsibility to update any forward-looking statements.
