On April 05, 2019, Wuhan General Group, Inc. announced 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, called “M2BIO” will be headed up by Wuhan’s CMO, Dr. Anna Morera Lorelta. According to Dr. Lorelta, 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, one of the naturally occurring compounds contained in so-called “magic mushrooms”.
According to Dr. Lorelta, ’’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.” She explains:
“Just like it took time for the regulators to get behind marijuana, we believe the same will happen with ‘magic mushrooms’ in due course.”
MJ MedTech CEO, Jeff Robinson described the company’s strategy as follows:
“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.”
MJ MedTech’s 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. Accordingly, M2BIO will be exploring additional indications for psilocybin, with the goal of bringing new therapies to market in the years to come.
Although the psilocybin industry is in its early stages, all signs point to rapid growth in the space. Recently COMPASS Pathways and CaaMTech have reported significant progress in commercial psilocybin related research and development. In the United States, Oregon, Iowa, Colorado (Denver), California, and Vermont have made steps towards legalizing or decriminalizing psilocybin.
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 cannabis products, specifically CBD-based products. See Analogy Between Cannabis and Magic Mushrooms. According to Wuhan,” our mission is to advance CBD-based medicine to the forefront by deploying best practice science and medicine, clinical research and emerging technologies.”