LOS ANGELES, Jan. 30, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Wuhan General Group (China), Inc. (WUHN) (the "Company" and "Wuhan"), announced today that its wholly-owned subsidiary MJ MedTech, Inc. (MJ MedTech) and Biodelta Nutraceuticals, Ltd. (Biodelta) have entered into a joint venture to develop, brand, market and commercialize the internationally trademarked Dr. AnnaRx.
The joint venture calls for an initial pilot whereby the Dr. AnnaRx line of CBD based products will be sold (as regulations allow) across South Africa in more than 1,000 pharmacies. The data Biodelta collects on the pilot will enable them to ensure the Dr. AnnaRx brand will deliver the highest possible ROI when introduced internationally.
This partnership marks a very strong start to 2019 for MJ MedTech as the Company expects to have product on the shelves by Q2/3 of 2019.
Dr. Anna Leralta, CMO of Wuhan, commented, "I'm thrilled to be working with the very strong scientific team at Biodelta. They have proven for many years their outstanding track record and expertise in the field of science-backed nutraceuticals. They are an ideal partner to help support our vision of developing effective CBD products backed by sound science."
Under the terms of the Agreement, Biodelta will exclusively develop, distribute and merchandise all products sold under the Dr. AnnaRx brand in South Africa and 8 additional African countries across the African continent.
Leon Giese, CEO of Biodelta, added, "There is a growing demand for CBD products in the South African market. Retailers and consumers want a brand they can trust, and we believe Dr. AnnaRx is a perfect fit."
About Biodelta Nutraceuticals
Biodelta Nutraceuticals (ISO 22000 and organic certified) is a Cape Town-based manufacturer and merchandiser of premium health products to all pharmacy & health shop chains across South Africa. For the past 12 years, Biodelta has developed, designed and produced more than 1,000 products for these customers and is now strategically positioned to launch CBD products through these channels. In addition, Biodelta has license applications in process for growing, extracting and product development as well as dossiers for various CBD based products.
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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.
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Source: Wuhan General Group (China), Inc.