THE WHAT? CBD specialist Wuhan General Group has announced that it has signed a letter of intent to pursue a partnership with Jugular in order to create a specialized division that focuses on marketable innovation within the nutraceutical sector.
THE DETAILS The partnership deal is expected to be formalized on or before September 30, 2020 and will include the development and manufacture of CBD functional foods under the Dr AnnaRx brand, including an Immune Booster Shot, Energy Booster Shot and Relax and Unwind Shot.
“Jack and I have spent immeasurable hours over the past few years discussing food science and how we might see a fit in bringing the brains behind our organizations together. We are thrilled to make this a reality and to be working with a group that cares as much about the science as we do” said Jeff Robinson, Chief Executive Officer of Wuhan General Group.
THE WHY? With the pandemic creating heightened awareness of the need for immune boosting supplements as well as a renewed focus on wellness, the duo’s new venture should find a captive audience. Jack Napier, Jugular Director, explained, “Jeff and his team at M2BIO are putting everything in place to create the right moment to bring cannabinoid-based nutraceuticals to the mass market. Jugular in partnership with M2BIO will use its extensive experience in the functional foods retail sector to unlock a new area of global profitability in the fast-growing wellness industry. We are thrilled to begin this partnership as we see the enormous potential of creating marketable innovations in this untapped new field within functional nutrition.”