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Spherix Announces Filing of its Annual Report on Form 10-K, Records $7.5 Million One Time Gain

NEW YORK, March 12, 2019 /PRNewswire/ — Spherix Incorporated (NASDAQ: SPEX)- a technology development company committed to the fostering of innovative ideas, announced today that it has filed its Annual Report on Form 10-K for the year ended December 31, 2018 with the Securities and Exchange Commission.

Spherix Logo. (PRNewsFoto/Spherix Incorporated)

A copy of the Annual Report on Form 10-K is available to be viewed or downloaded from the Investor Relations Section of the Company’s Website, here. Financial highlights include a $7.5 million one time gain for the quarter, total assets of $13.3 million, approximately 8 million shares currently outstanding and no debt. Hard copies of the Annual Report on Form 10-K are being mailed to shareholders in advance of the Annual Meeting on April 15, 2019.

“2018 proved to be a pivotal year in the growth and development of the Company. During the fourth quarter that ended December 31, 2018, we recorded a $7.5 million one-time gain due in large part to the successful integration of our recent investments,” stated Anthony Hayes, CEO of Spherix.

“Going forward, we will continue to examine similar accretive acquisitions,” added Hayes.

About Spherix Incorporated

Spherix Incorporated is a technology development company committed to the fostering of innovative ideas. Spherix Incorporated was formed in 1967 as a scientific research company. Our activities generally include the acquisition and development of technology through internal or external research and development. In addition, we seek to acquire existing rights to intellectual property through the acquisition of already issued patents and pending patent applications, both in the United States and abroad. We may alone, or in conjunction with others, develop products and processes associated with technology development and monetizing related intellectual property.

Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Investor Relations:

Hayden IR

Brett Maas, Managing Partner

Phone: (646) 536-7331

Email: brett@haydenir.com

www.haydenir.com

Spherix:

Phone: 212-745-1373

Email: investorrelations@spherix.com

www.spherix.com

 

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SOURCE Spherix Incorporated

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Why Physicians Founded Vireo Health

For Dr. Kyle Kingsley, a trained emergency medical doctor in Minnesota, his perspective on the use of medical cannabis evolved after meeting a Gulf War veteran who had suffered a gunshot wound resulting in a spinal cord injury. For years, the veteran was experiencing debilitating pain and found no relief from the large amounts of prescribed opiates. Finally, he chose to try medical cannabis, which provided him significant relief with little to no sides effects and helped pave the way for him to lead a normal and pain-free life.

Experiences like this inspired Dr. Kingsley to create Vireo Health, a physician-led company dedicated to providing patients with best-in-class cannabis-based products and high-quality care.

Vireo’s Minnesota operation scored first out of a dozen applicants in the highly competitive, merit-based Minnesota medical cannabis licensing process. Vireo then launched Vireo Health of New York, winning one of only five available medical cannabis licenses in the Empire State, with more than 40 applicants. In 2018, Vireo Health was awarded a license to grow and manufacture medical cannabis products in Pennsylvania.

Today, the Vireo Health team is comprised of physicians, scientists, pharmacists and horticulturists that have a wealth of experience and knowledge. Vireo Health’s subsidiaries – Vireo Health of New York, Minnesota Medical Solutions and Pennsylvania Medical Solutions – cultivate cannabis in their environmentally friendly greenhouses and manufacture pharmaceutical-grade cannabis extracts in their state-of-the art labs.

Vireo Health’s “Spectrum” of products range from THC-dominate to CBD-dominate and come in a variety of applications including vape cartridges, oral solutions and capsules. Many of these items are now available to dispensaries and patients across Pennsylvania, all produced locally at our facilities in Scranton, PA.

As Pennsylvania Medical Solutions continues to grow, their mission of “seed to sale” or “plant to patient” is coming to life across the state. Vireo products are now available in 80 percent of Pennsylvania dispensaries, and currently Vireo is the only medical marijuana grower and processor in the state to offer 1000mg vaporizer cartridges. Vireo is greatly expanding their greenhouse and operating facilities in Scranton, PA and expanding their workforce and product lines to ensure their high-quality products are accessible to patients throughout the Keystone State.

Vireo Health also places a strong focus on increasing education and awareness about the efficacy and safety of medical cannabis. Vireo Health partners with many local and national research organizations ranging from educational institutes like the University of Minnesota and University of Iowa to medical research groups like Montefiore Medical Center and the MMJ.org initiative run by Thomas Jefferson University.

To learn more about Vireo Health’s commitment to best-in-class product formulations and commitment to patient care via medical cannabis, please visit: www.vireohealth.com/pa.

Check out the original article here: http://dispensemagazine.com/why-physicians-founded-vireo-health/

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Vireo Health of New York CEO Ari Hoffnung responds to Governor Cuomo and Mayor De Blasio’s 10-Point Plan to Transform and Fund the MTA

The following statement can be attributed to Ari Hoffnung, Chief Executive Officer of Vireo Health of New York, one of only 10 organizations licensed in the state to grow, cultivate, manufacture and sell medical cannabis:

*****

“A sensible adult-use program should be able to generate sufficient tax revenues to fund much needed subway improvements and programs designed to benefit those communities disproportionately adversely impacted by the War on Drugs.”

You can read Mr. Hoffnung’s response to Gov. Cuomo’s initial plan to legalize adult-use, recreational cannabis here. You can also read his statements to the New York State Assembly here.

###

About Vireo Health of New York

Vireo Health of New York is a physician-led company dedicated to providing best-in-class cannabis-based medications and compassionate care. The Company is a proven leader in the field of medical marijuana. In December 2015, Vireo’s products became the first to be certified Kosher by the Orthodox Union.In addition to brick-and-mortar dispensary locations, Vireo launched the first medical marijuana home delivery service in the New York City area, now available throughout New York City, Westchester, Rockland, Putnam, Nassau and parts of Suffolk County. For more information, visit https://vireohealth.com/ny/.

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AbbVie reaches an agreement with the pan-Canadian Pharmaceutical Alliance (pCPA) for its hepatitis C treatment MAVIRET™

• Ontario will be the first province to reimburse MAVIRET as of February 28, 2019
• MAVIRET is the first and only 8-week, pan-genotypic treatment for chronic hepatitis C patients without cirrhosis and who are new to treatment*1
• MAVIRET previously received positive reimbursement recommendations from the CADTH Canadian Drug Expert Committee (CDEC)2 in January 2018 and the Institut national d’excellence en santé et services sociaux (INESSS) in February 2018
• MAVIRET is the only pan-genotypic treatment approved for use in patients across all stages of chronic kidney disease

MONTREAL, QC, February 21, 2019 – AbbVie (NYSE: ABBV), a global, research and development-based biopharmaceutical company, announced an agreement was reached with the pan-Canadian Pharmaceutical Alliance (pCPA) regarding MAVIRET™ (glecaprevir/pibrentasvir tablets), a once-daily, ribavirin-free treatment for adults with chronic hepatitis C virus (HCV) infection across all major genotypes (GT1-6)2. MAVIRET is the only 8-week, pan-genotypic treatment for patients without cirrhosis and who are new to treatment,* who make up a large portion of HCV patients in Canada.

Following the positive conclusion with the pCPA, Ontario will be the first province to reimburse MAVIRET on its public formulary as of February 28, 2019. As listed on the Ontario Drug Benefit (ODB)3 Formulary as a Limited Use product, MAVIRET will be covered for treatment-naïve and treatment- experienced adult patients with chronic hepatitis C infection (regardless of fibrosis stage) 3:
• Laboratory confirmed hepatitis C genotype 1,2,3,4,5,6
• HCV RNA value within the last six months
***Prescription by a hepatologist, gastroenterologist or an infectious disease specialist (or other physician experienced in treating hepatitis C).

“After more than 20 years of treating hepatitis C, I am hopeful that soon we will successfully eliminate this virus. But in order to reach this goal in Canada and across the world, we need to work together to test, diagnose and bring these high curative treatments to every individual, regardless of their genotype, fibrosis stage and background,” explains Dr. Magdy Elkhashab, Gastroenterologist/Hepatologist,
Director of the Toronto Liver Centre. “As a hepatologist, MAVIRET offers me the opportunity to put my patients on an effective, short duration therapy that has a proven track record.”

Approximately 300,000 Canadians are infected with hepatitis C.4 Over time chronic hepatitis C can lead to chronic liver diseases, with a risk of developing cirrhosis of up to 30 per cent within 20 years5 of infection. Additionally, HCV is common among people with severe chronic kidney disease (CKD), and some of these patients previously did not have a direct-acting antiviral (DAA)-based treatment option.6

“The Canadian Liver Foundation is committed to seeing Canada meet the target set by the World Health Organization’s Global Strategy on Viral Hepatitis. And that target is to eliminate hepatitis C by 2030. It is within our reach, but all our elimination efforts require support, plans and concrete actions at the local level to combat the increasing burden of HCV infection and the associated stigma,” says Dr. Morris Sherman, Chairman of the Canadian Liver Foundation and Toronto-based hepatologist. “To be successful, we need a comprehensive screening strategy based on risk factors, plus a one-time test for all Canadians born 1945 – 19757, as well as adapted linkage to care to allow access to all available treatment options for all Canadians.”

The efficacy and safety of MAVIRET was evaluated in nine Phase 2-3 clinical trials, in over 2,300 patients with genotype 1, 2, 3, 4, 5 or 6 HCV infection and with compensated liver disease (with or without cirrhosis).

“AbbVie is committed to the World Health Organization’s targets and looks forward to working with governments, health care professionals and patient associations in their concerted efforts to achieve HCV elimination in Canada,” explains Stéphane Lassignardie, General Manager, AbbVie Canada.
“MAVIRET brings value in order to achieve elimination and all Canadians should have access to innovative and curative therapies.”

About MAVIRET™
MAVIRET™ is approved in Canada for the treatment of chronic hepatitis C virus (HCV) infection in adults across all major genotypes (GT1-6).8 MAVIRET is a pan-genotypic, once-daily, ribavirin-free treatment that combines glecaprevir (100 mg), an NS3/4A protease inhibitor, and pibrentasvir (40 mg), an NS5A inhibitor, dosed once-daily as three oral tablets.8

MAVIRET is an 8-week, pan-genotypic virologic cure** for use in patients without cirrhosis and who are new to treatment,*1 such patients comprising the majority of people living with HCV. MAVIRET is also approved as a treatment for patients with specific treatment challenges, including those with compensated cirrhosis across all major genotypes, and those who previously had limited treatment options, such as patients with severe chronic kidney disease (CKD) and those with genotype 3 infection.8 It is the only pan-genotypic treatment approved for use in patients across all stages of CKD.8
Glecaprevir (GLE) was discovered during the ongoing collaboration between AbbVie and Enanta Pharmaceuticals (NASDAQ: ENTA) for HCV protease inhibitors and regimens that include protease inhibitors.

*Patients without cirrhosis and new to treatment with DAAs [either treatment-naive or not cured with previous IFN-based treatments ([peg]IFN +/- RBV or SOF/RBV +/- pegIFN)].
**Patients who achieve a sustained virologic response at 12 weeks post treatment (SVR12) are considered cured of hepatitis C.

About AbbVie
AbbVie is a global, research and development-based biopharmaceutical company committed to developing innovative advanced therapies for some of the world’s most complex and critical conditions. The company’s mission is to use its expertise, dedicated people and unique approach to innovation to markedly improve treatments across four primary therapeutic areas: immunology, oncology, virology and neuroscience. In more than 75 countries, AbbVie employees are working every day to advance health solutions for people around the world. For more information about AbbVie, please visit us at

www.abbvie.ca and www.abbvie.com. Follow @abbvieCanada and @abbvie on Twitter or view careers on our Facebook or LinkedIn page.

###

Media:
Muriel Haraoui AbbVie Canada (514) 717-3764
muriel.haraoui@abbvie.com

 

1 Decisions Resources Group. Hepatitis C virus: disease landscape & forecast 2016. January 2017.
2 CADTH Canadian Drug Expert Committee Recommendation – Final: https://www.cadth.ca/sites/default/files/cdr/complete/SR0523_Maviret_complete-Jan-25-18.pdf. Accessed February 2019.
3 Ontario Drug Benefit Formulary/Comparative Drug Index Edition 43. Summary of Changes – February 2019. Effective February 28, 2019. http://www.health.gov.on.ca/en/pro/programs/drugs/formulary43/summary_edition43_20190220.pdf. Accessed
February 2019.
4 The Canadian Liver Foundation. https://www.liver.ca/how-you-help/advocate/. Accessed February 2019. 5 Hepatitis C Fact Sheet. World Health Organization. World Health Organization, July 2017. Web. http://www.who.int/mediacentre/factsheets/fs164/en/. Accessed February 2019.
6 Fabrizi F, Poordad FF, Martin P. Hepatitis C infection in the patient with end stage renal disease. Hepatology. 2002;36(1):3-10. 7 The Canadian Liver Foundation, press release: https://www.newswire.ca/news-releases/not-getting-the-message-too-many- canadians-born-between-1945-1975-unaware-of-their-increased-risk-of-undiagnosed-hepatitis-c-587783871.html. Accessed February 2019.
8 MAVIRET (glecaprevir/pibrentasvir tablets) Product Monograph. Date of Preparation: August 16, 2017. http://www.abbvie.ca/content/dam/abbviecorp/ca/en/docs/MAVIRET_PM_EN.pdf. Accessed February 2019.

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AbbVie’s HUMIRA® (Adalimumab) Approved by Health Canada to Treat Pediatric Patients with Chronic Non-infectious Anterior Uveitis

  • The approval marks HUMIRA as the only approved biologic treatment option in Canada for pediatric patients from two years of age with chronic non-infectious anterior uveitis who have had inadequate response to conventional therapy
  • The approval is based on results from SYCAMORE, an investigator-initiated clinical trial, which showed that HUMIRA combined with methotrexate significantly delayed the time to treatment failure compared to methotrexate plus placebo in children with active JIA-associated uveitis1
  • Juvenile idiopathic arthritis (JIA) is the most common systemic disorder associated with non- infectious uveitis in children, accounting for more than 75 percent of cases of pediatric anterior uveitis2

 

MONTREAL, QC, February 20, 2019 — AbbVie (NYSE: ABBV), a research-based global biopharmaceutical company, today announced that Health Canada has approved HUMIRA® (adalimumab) for the treatment of chronic non-infectious anterior uveitis in pediatric patients from two years of age who have had an inadequate response to or are intolerant to conventional therapy, or in whom conventional therapy is inappropriate. HUMIRA is now the only approved biologic treatment option for chronic non-infectious anterior uveitis in children aged two years and older in Canada.

 

“This approval marks an important milestone for pediatric uveitis patients and their caregivers who, up until this point, had no biologic treatment options available to them,” said Stéphane Lassignardie, General Manager of AbbVie Canada. “This label expansion for HUMIRA further demonstrates AbbVie’s dedication to addressing the unmet medical needs for both adult and pediatric patients living with serious immune-mediated inflammatory diseases.”

 

Uveitis is an inflammation of the uvea, which includes the iris, choroid and the ciliary body in the eye.3 If left untreated, it can lead to vision loss, including cataracts, glaucoma and cystoid macular edema (CME).4,5 Severe vision loss has been estimated to occur in 25 to 30 percent of pediatric uveitis cases, making early diagnosis and treatment essential to preserve vision in children with the disease.4,6 JIA is the most common systemic disorder associated with uveitis in children accounting for more than 75 percent of cases of pediatric anterior uveitis.2

 

“For many children, the diagnosis of uveitis carries a significant burden in terms of number of visits to the hospital, threat to the patient’s vision and anxiety for the whole family,” explained Dr. Eric Fortin, ophthalmologist at the University of Montreal Ophthalmology Center. “Having this approval for the indication of pediatric uveitis will hopefully lead to easier access to HUMIRA for those patients who need it. That is something that is very important both to me and my patients.”

 

 

 

“Pediatric uveitis is a debilitating and potentially blinding condition, which poses overwhelming challenges to children and their families,” said Christina Pelizon, Medical Director, AbbVie Canada. “The SYCAMORE study showed that HUMIRA in combination with methotrexate significantly delayed the time to treatment failure compared with methotrexate plus placebo. These results demonstrate HUMIRA has the potential to help many children who have failed standard treatments preserve their eyesight from the ocular complications associated with chronic non-infectious anterior uveitis.”

 

The SYCAMORE clinical trial is a randomized controlled study of the clinical efficacy and safety of HUMIRA combined with methotrexate versus methotrexate plus placebo for the treatment of active JIA- associated uveitis. It was sponsored by the University Hospitals Bristol NHS Foundation Trust and coordinated by the Clinical Trials Research Centre at the University of Liverpool. The Independent Data Safety and Monitoring Committee (IDSMC) recommended unmasking the trial early after 90 randomized patients with active JIA-associated uveitis because it showed that HUMIRA combined with methotrexate controlled ocular inflammation better and was associated with a significantly lower rate of treatment failure, defined according to several criteria, including multiple components of intraocular inflammation, than placebo.1

 

About the SYCAMORE Trial1

The SYCAMORE clinical trial was sponsored by the University Hospitals Bristol NHS Foundation Trust and coordinated by the Clinical Trials Research Centre at the University of Liverpool. The study was supported by grants from the National Institute for Health Research Health Technology Assessment Programme and Arthritis Research UK. In this multicenter, double-masked, randomized, placebo- controlled trial, researchers assessed the efficacy and safety of HUMIRA in children and adolescents two years of age and older who had active JIA-associated uveitis noninfectious anterior uveitis who were refractory to at least 12 weeks of methotrexate treatment.

 

Patients who were taking a stable dose of methotrexate were randomly assigned in a 2:1 ratio to receive either HUMIRA (at a dose of 20 mg or 40 mg, according to body weight) or placebo, administered subcutaneously every two weeks. Patients continued the trial regimen until treatment failure or until 18 months had elapsed. Including a 6 months off-study drug period, they were followed for up to two years after randomization. The primary endpoint was the time to treatment failure, defined as meeting at least one of the following criteria: multiple components of intraocular inflammation, worsening or development of ocular comorbidities, use of concomitant medications that were not allowed or that did not follow pre-specified criteria, and suspension of treatment for an extended period of time.

 

Study results showed that the addition of HUMIRA to methotrexate significantly delayed the time to treatment failure as compared with placebo, and the pre-specified stopping criteria were met after the enrollment of 90 of 114 patients. Researchers observed 16 treatment failures in 60 patients (27 percent) in the HUMIRA group versus 18 treatment failures in 30 patients (60 percent) in the placebo group (hazard ratio, 0.25; 99.9 percent confidence interval [CI], 0.08 to 0.79; P<0.0001 [the pre-specified stopping boundary]).

 

 

About HUMIRA

 

 

 

HUMIRA resembles antibodies normally found in the body. It works by blocking TNF-α, a protein that, when produced in excess, plays a central role in the inflammatory responses of many immune-mediated diseases.

 

HUMIRA is one of the most comprehensively studied biologics available. The overall clinical database for HUMIRA spans 20 years across 15 indications globally (11 in Canada), including more than 71 clinical trials with more than 23,000 patients. HUMIRA is approved in 90 countries and used by more than one million patients worldwide.

 

Any medicines can have side effects. Like all medicines that affect the immune system, HUMIRA can cause serious side effects.7 Before initiation of, during and after treatment with HUMIRA, patients should be evaluated for active or inactive tuberculosis infection with a tuberculin skin test. For further information, please see the HUMIRA Product Monograph1available at www.abbvie.ca.

 

Important Safety Information

HUMIRA is a TNF blocker medicine that affects the immune system and can lower the body’s ability to fight infections. Serious infections have happened in people taking HUMIRA. These serious infections include tuberculosis (TB) and infections caused by viruses, fungi, or bacteria that have spread throughout the body. Some people have died from these infections. People should be tested for TB before HUMIRA use and monitored for signs and symptoms of TB during therapy. People at risk of TB may be treated with medicine for TB before starting HUMIRA. Treatment with HUMIRA should not be started in a person with an active infection, unless approved by a doctor. HUMIRA should be stopped if a person develops a serious infection. People should tell their doctor if they live in or have been to a region where certain fungal infections are common, have had TB or hepatitis B, are prone to infections, or have symptoms such as fever, fatigue, cough, or sores.

 

For people taking TNF blockers, including HUMIRA, the chance of getting lymphoma or other cancers may increase. Some people have developed a rare type of cancer called hepatosplenic T-cell lymphoma. This type of cancer often results in death. If using TNF blockers, including HUMIRA, the chance of getting two types of skin cancer (basal cell and squamous cell) may increase. These types are generally not life- threatening if treated.

 

Other possible serious side effects with HUMIRA include hepatitis B infection in carriers of the virus; allergic reactions; nervous system problems; blood problems; certain immune reactions including a lupus-like syndrome; liver problems; and new or worsening heart failure or psoriasis. The use of HUMIRA with other biologics DMARDS (e.g. anakinra or abatacept) or other TNF antagonists is not recommended. People using HUMIRA should not receive live vaccines.

 

Common side effects of HUMIRA include injection site reactions (redness, swelling, itching, pain or bruising), cough and cold symptoms, headache, rash, nausea, pneumonia, fever and abdominal pain.

 

HUMIRA is given by injection under the skin.

 

The benefits and risks of HUMIRA should be carefully considered before starting therapy.

 

 

 

 

This is not a complete list of the Important Safety Information for HUMIRA. For additional important safety information, please consult the HUMIRA Product Monograph at www.abbvie.ca

 

About AbbVie Care

The AbbVie Care program is designed to provide a wide range of customized services including reimbursement and financial support, pharmacy services, lab work reminders and coordination, personalized education and ongoing disease management support throughout the treatment journey. For more information, consult www.abbviecare.ca.

 

About AbbVie

AbbVie is a global, research-driven biopharmaceutical company committed to developing innovative advanced therapies for some of the world’s most complex and critical conditions. The company’s mission is to use its expertise, dedicated people and unique approach to innovation to markedly improve treatments across four primary therapeutic areas: immunology, oncology, virology and neuroscience. In more than 75 countries, AbbVie employees are working every day to advance health solutions for people around the world. For more information about AbbVie, please visit us at abbvie.ca and abbvie.com. Follow @abbviecanada and @abbvie on Twitter, or view careers on our Facebook or LinkedIn page.

 

 

-30-

 

Media:

Julie Lepsetz AbbVie Canada (514) 832-7268

julie.lepsetz@abbvie.com

 

 

 

References:

 

1 Ramanan A.V., Dick, A.D., et.al. Adalimumab plus Methotrexate for Uveitis in Juvenile Idiopathic Arthritis. N Engl J Med. 2017;376:1637-46.

2 Palejwala, N.V., Yeh, S. & Angeles-Han, S.T. Current Perspectives on Ophtalmic Manifestations of Childhood Rheumatic Diseases. Curr Rheumatol Rep (2013) 15: 341. doi:10.1007/s11926-013-0341-3.

3 Clarke SL, Sen ES, Ramanan. Juvenile idiopathic arthritis-associated uveitis. Pediatr Rheumatol Online 2016. 14:27. doi: 10.1186/s12969-016-0088-2.

4 Cunningham ET Jr. Uveitis in children. Occular Immunology and Inflammation. 2009. 8:4, 251-261. DOI: 10.1076/ocii.8.4.251.6459.

5 Smith J.A., Mackensen F., Sen H.N., et al. Epidemiology and course of disease in childhood uveitis. Ophthalmology. 2009 Aug;116(8):1544-1551.

 

 

 

 

 

6 Bhat, P.V., MD; Goldstein, D.A., MD. Pediatric Anterior Uveitis. Available at: https://www.aao.org/pediatric- center-detail/pediatric-anterior-uveitis. Accessed February 6, 2019.

7 HUMIRA (adalimumab) Product Monograph. AbbVie Corporation. Last updated January 23, 2019.

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WUHAN AND BIODELTA FORM INTERNATIONAL JOINT VENTURE – To launch Dr. AnnaRx CBD Products in 1,000 Pharmacies Across SA

LOS ANGELES, Jan. 30, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE — Wuhan General Group (China), Inc. (USOTC: 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.

For further information contact:

Website: https://biodelta.net/

Public Relations E-mail: info@biodelta.net

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.

For further information contact:

Publicly traded company (USOTC: WUHN)

Website: www.wuhn.org

Public Relations E-mail: info@wuhn.org

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.

Source: Wuhan General Group (China), Inc.

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America Began Alcohol Prohibition in 1919 but It’s Edging Toward Ending Cannabis Prohibition in 2019

What a difference a century makes.

One hundred years after the 18th Amendment took effect and prohibition of alcohol became the law of the land, 2019 is likely to be among the most significant years in U.S. history for the ongoing battle to end cannabis prohibition. That’s not to say 2018 (or 2017 or 2016, and so on) wasn’t important. But the cannabis industry seems poised for such significant growth that it’s inevitable that every new year will outpace the previous one.

Here are some key themes and events sure to shape the industry in 2019.

State Policy

The November midterm elections were a major victory for cannabis advocates, with Michigan becoming the first state in the Midwest to legalize adult use of cannabis, voters in Missouri and Utah approving initiatives to allow statewide medicinal cannabis use, and candidates from New Mexico to New York focusing their agendas on the economic impact and social justice ramifications of cannabis legalization.

We’re watching closely what will happen here in New York, where Gov. Andrew Cuomo made legalization of adult-use cannabis a key piece of his agenda for the first 100 days of his third term. With Democrats taking control of the state Legislature in 2019 and neighboring Massachusetts seeing recreational dispensaries open for the first time in 2018, there will be both pressure and momentum for New York to follow suit.

New York has an opportunity to become a national leader in righting the injustices of the war on drugs, which for decades has unfairly targeted minority communities. In doing so, New York can become a leader among states that previously legalized adult-use cannabis. A few potential measures could include:

  • Offering low-interest loans to minority- and women-owned certified businesses;
  • Offering priority license registration to victims of the war on drugs;
  • Mandating that cannabis companies provide annual diversity reports on their workforces and contracts;
  • Allocating a portion of cannabis tax revenues to fund scholarships for formerly incarcerated individuals;
  • Encouraging unionization to ensure that jobs in the cannabis industry offer fair wages and good benefits.

Doing so will set a national standard for equality and justice as more states come online.

Across the Hudson in New Jersey, adult-use legislation did suffer a setback last year. With that said, the Garden State will likely reconsider adult-use legislation early in 2019 and most believe it will succeed.

Tax revenues certainly will drive more states to consider adult-use legislation. A report from the Cato Institute projects that the legalization and fair taxation of cannabis could generate more than $100 billion annually for federal, state and local governments. A similar report forecasts that up to 1 million new jobs could be created nationwide within the first 10 years of adult-use legalization

Federal Policy

Although significant progress is being made at the state level, not much has happened on the federal level. With Democrats taking control of the House, there will be Congressional hearings on cannabis policy and multiple pieces of legislation that are supportive of the industry on issues such as banking and taxation.

The real question is whether there is any cannabis legislation that the Republican controlled Senate would pass and President Donald Trump would sign into law. I believe the answer is yes, and that bill would likely be modeled after the STATES Act, which defers the issue of cannabis policy to each state.

Passing the STATES Act should receive strong bipartisan support. An October Gallup Poll showed almost 66 percent of Americans support legalizing cannabis. Other national polls show almost 90 percent of Americans support medical cannabis.

Politically, by passing the STATES Act, Senate Republicans could prevent cannabis from becoming a problematic issue in 2020 and provide an opportunity for the party to demonstrate its commitment to state rights.

Let’s not forget that during the 2016 presidential elections, Michigan, Pennsylvania, Ohio, Florida and Arizona were all red states that voted for Trump. In 2020, those same states will have robust adult-use and/or medical marijuana programs.

Hemp

Hemp is inextricably tied to our country’s history. After all, George Washington himself grew it at Mount Vernon. With the 2018 Farm Bill legalizing the cultivation of hemp, analysts suggest that hemp could boost local economies and has the potential to grow into a multi-billion industry. Legalizing hemp will allow more jobs and more products to be created here in the U.S. The real question for 2019 is: how will the FDA regulate CBD products?

Public Markets

2018 was a year of excitement and milestones for investment in the cannabis industry. Canadian companies Cronos, Canopy Growth, and Tilray became the first “cannabis-only” stock listed on U.S. exchanges. Meanwhile, American companies MedMen, GTI and Acreage — unable to list in the United States due to conflicts between federal and state laws — listed on the Canadian Stock Exchange. The ironic trend of U.S.-based cannabis companies looking north to Canadian exchanges and Canadian companies looked South to U.S. exchanges will continue in 2019.

Perhaps the most important trend likely to continue in 2019 is the dissipating stigma around cannabis. Opinions change quickly when people see their own family and friends using cannabis. Consider the grandmother using cannabis to help alleviate chronic pain, one’s veteran brother-in-law using cannabis to more effectively deal with PTSD or even one’s next door neighbor that uses cannabis responsibly on the weekend to relax and unwind.

As cannabis is drawn further from the shadows, state and federal policy changes, hemp production and IPOs all become easier to accomplish. In 2019, we’re poised to see more positive steps in that direction.

Read the full article here: https://www.greenentrepreneur.com/article/325999

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Statement from Vireo Health on Cuomo’s State of the State Address and Legalization of Adult-use Marijuana

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Spherix Announces Preclinical Pancreatic Cancer Treatment Study Moving Forward

NEW YORK, Nov. 27, 2018 /PRNewswire/ — Spherix Incorporated (Nasdaq: SPEX) today announced the funding of a study for KPC34, for pancreatic cancer, specifically pancreatic ductal adenocarcinoma (PDA).  PDA is considered the deadliest of major cancers and patients are in desperate need of improved therapies. Other than lung cancer, PDA is projected to kill more people than any other malignancy by the year 2030.

Spherix Logo. (PRNewsFoto/Spherix Incorporated)

PDA is caused by chronic inflammatory stress associated with the increasingly common afflictions of obesity, type 2 diabetes, and pancreatitis, exacerbated by smoking and drinking.  KPC34 is a candidate therapeutic because it is activated preferentially inside tumor cells to release an inhibitor of DNA replication and a separate tumor promotion inhibitor.

Annually, more than 350,000 new cases of pancreatic cancer are diagnosed across the world.  According to the American Society of Clinical Oncology, a six-month course of gemcitabine, the chemotherapy drug typically used to treat advanced pancreatic cancer, costs about $23,500. Adding the drug erlotinib, which might increase survival time slightly, adds more than $16,500, for a total of more than $40,000. A study published in the journal Cancer found that stereotactic body radiotherapy, used in addition to chemotherapy, added an additional $13,700 to the total treatment cost.

Developed at Wake Forest School of Medicine, and licensed by CBM BioPharma, Inc. (“CBM”), KPC34 is a next generation treatment for acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL) and is designed to overcome multiple resistance challenges observed with the current standard of care. For more information, please visit: www.cbmbiopharmainc.com

This new study will establish whether KPC34, alone or in combination with synergistic, standard care compounds, is a feasible therapeutic option to prevent the onset and/or progression of PDA. The goal is to advance the potential applicability of the drug for the treatment of pancreatic cancer.

Mr. Anthony Hayes, CEO of Spherix commented, “Spherix is continuing its commitment to our merger with CBM and the advancement of these potential lifesaving drugs.  The prior data demonstrating that KPC34 inhibited ALL and AML in xenograft models is highly encouraging.  This new study aims to determine if those positive results can be extended to PDA.  If successful, we anticipate that this strategy will lead to the development of KPC34 for clinical trials in humans within the next year.  Management is excited to fund this study and we are enthusiastic about its potential.  We look forward to building synergies between KPC34 and the other pancreatic cancer drug licensed by CBM. My commitment and confidence in Spherix has never been stronger.  Our minority ownership in the electronic scooter and bike sharing business, plus our merger with CBM and other biopharma projects, provides a diversified opportunity for growth and real advancement towards a robust company.”

About Spherix

Spherix is committed to advancing innovation and technology by active participation in all areas of the patent market. Spherix draws on portfolios of pioneering technology patents to partner with and support product innovation. In addition to patent monetization efforts, Spherix has been transitioning to focus our efforts as a technology development company.  These efforts have focused on biotechnology research and blockchain technology research.  The Company’s biotechnology research development includes investments in Hoth Therapeutics Inc. and the proposed merger with CBM Biopharma, Inc. (“CBM”).  In the field of blockchain research, Spherix has invested in DatChat and The Bit Daily.  DatChat is a privately held personal privacy platform, focused on Encrypted Communication, Internet Security and Digital Rights Management.  The Bit Daily (https://www.thedailybit.news/) is a daily newsletter that summarizes the current blockchain and cryptocurrency news.

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Investor Relations:

Hayden IR

Brett Maas, Managing Partner

Phone: (646) 536-7331

Email: brett@haydenir.com

www.haydenir.com

Spherix: 

Phone: 212-745-1373

Email: investorrelations@spherix.com  

www.spherix.com

 

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SOURCE Spherix Incorporated

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Spherix Announces Ownership Interest in Electric Scooter Business

The Next Generation of Human Transportation Meets Innovation in Ownership

NEW YORK, Nov. 26, 2018 /PRNewswire/ — Spherix Incorporated (Nasdaq: SPEX) today announced it has secured an ownership interest in Mellow Scooters, LLC, a leading-edge company that enables anyone to own and operate a personal fleet of electric scooters and dockless bicycles to generate revenue.

Spherix Logo. (PRNewsFoto/Spherix Incorporated)

Mellow’s unique system allows entrepreneurs both small and large scale to operate a local business leveraging Mellow’s proprietary software. From renting out an unused road bike, to running a fleet of hundreds of electric scooters, Mellow provides a flexible entry for anyone interested in the growing shared vehicles space. The Mellow website, www.ridemellow.com, explains the concept of the system through its Mellow Owner and Rider walkthrough guides.

“We believe in empowering citizens, small businesses, and cities to localize operation of shared vehicles and keep the generated revenue for schools, infrastructure and the betterment of their own shared spaces. We have closely studied this fast-growing area of human transportation and believe we have identified a tremendous opportunity to change who can participate in this developing space.  The core of Mellow’s business, enabling local economies to keep revenue generated through transit, is an equitable approach designed to provide a safer, more stable environment. Instead of giving a distant business control of a city’s transit, cities and small businesses can elect to run their own Mellow operation and harness revenue from last mile transit. The current state of private companies taking advantage of city resources (i.e. sidewalk space, emergency dispatch teams, transit revenue) appears to be unfair and potentially unsustainable in the long term,” stated Chris Hoyle, CEO of Mellow.

Anthony Hayes, CEO of Spherix commented, “Leading up to our acquisition of CBM BioPharma, Spherix had been incubating Mellow and we are proud of its advancements.  Mellow is uniquely positioned to take advantage of a gap in the rapidly growing electric scooter and bike sharing business and we are proud to now own twenty five percent (25%) of Mellow.  Chris Hoyle is an exceptional, bright entrepreneur and we are excited to support his vision. Our ownership interest in Mellow gives our shareholders the potential opportunity to participate in the electronic scooter and bike sharing industry, while Spherix continues its commitment to the acquisition of CBM and the advancement of its important cancer fighting drugs.”

Additional information about the investment will be available in the Form 8-K, filed by Spherix with the Securities and Exchange Commission.

About Spherix

Spherix is committed to advancing innovation and technology by active participation in all areas of the patent market. Spherix draws on portfolios of pioneering technology patents to partner with and support product innovation. In addition to patent monetization efforts, Spherix has been transitioning to focus our efforts as a technology development company.  These efforts have focused on biotechnology research and blockchain technology research.  The Company’s biotechnology research development includes investments in Hoth Therapeutics Inc. and the proposed merger with CBM BioPharma, Inc. (“CBM”).  In the field of blockchain research, Spherix has invested in DatChat and The Bit Daily.  DatChat is a privately held personal privacy platform, focused on Encrypted Communication, Internet Security and Digital Rights Management.  The Bit Daily (www.thebitdaily.com) is a daily newsletter that summarizes the current blockchain and cryptocurrency news.

About Mellow Scooters, LLC

Mellow is a leading edge company that allows anyone to own and operate their personal fleet of dockless bicycles and electric scooters to generate revenue. For more information, go to www.ridemellow.com.

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Investor Relations:      Hayden IR
Brett Maas, Managing Partner
Phone: (646) 536-7331
Email: brett@haydenir.com
www.haydenir.com

Spherix:                       Phone: 212-745-1373
Email: investorrelations@spherix.com
www.spherix.com

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SOURCE Spherix Incorporated

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