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. […]
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.
This space is getting hot.