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What's biased? The facts are regarding the patent. KannaLife holds patent rights to the US Government's patent for medical marijuana. KannaLife is the only company doing so.
EW YORK, March 7, 2013 /PRNewswire/ -- KannaLife Sciences, Inc. ("KannaLife") the phyto-medical company that specializes in the research & development of pharmacological products derived from botanical sources, announced today the entry into Series A financing totaling $1.5 million.
The investment is led by and Medical Marijuana Inc. (OTC: MJNA) and CannaVest Corp. (OTC: FCLS).
"From KannaLife's exclusive license with NIH to its years in development of standardization in packaging cannabis based products, lends a perfect fit for the Medical Marijuana Inc., family of
companies. Particularly, the NIH exclusive license in our opinion is a true industry game changer. Our investment in KannaLife helps further build our pipeline of patented cannabinoid based medical products. In the very near future, it is patents such as this that we believe will determine a company's future success in the cannabis based pharmaceutical industry." – Michelle Sides, Chairman and Chief Operating Officer of Medical Marijuana Inc.
"The investments being made into KannaLife by CannaVest and MJNA go well beyond the actual dollars and cents.CannaVest and MJNA have paved highly sensible commercial inroads in
the field of phyto-medics, and principally in the area of cannabinoid based medicaments. We are delighted to be part of the long range plans of both CannaVest and MJNA." – Dean Petkanas, Founder and Chief Executive Officer of KannaLife Sciences, Inc.
"The companies work in the standardization of cannabis based products packaging, testing and identification is clearly where the industry is heading. We believe that KannaLife will be able to deploy its proprietary technology for standardization to markets that CannaVest and MJNA are currently in." – Michael Mona, President of CannaVest
"From KannaLife's inception, we have positioned ourselves as a innovative company focused on meeting the needs of a new paradigm shift in phyto-medicine. We believe this partnership lends to a great new opportunity and forward thinking approach to create standardization in this industry and beyond it." – Thoma Kikis, Founder and Chief Visionary Officer of KannaLife.
About Medical Marijuana Inc. (OTC: MJNA):
Our mission is to be the premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally friendly, economically sustainable businesses, while increasing shareholder value. For more information, please visit the company's website at: www.MedicalMarijuanaInc.com
About CannaVest (OTC: FCLS):
CannaVest is in the business of developing, producing, marketing and selling end consumer products containing the hemp based compounds with a focus on Cannabidiol (CBD). We seek to take advantage of an emerging worldwide trend to re-energize the production of industrial hemp and to foster its many uses for consumers. CBD is derived from hemp stalk and seed. This legal substance can be used with foods and nutritional supplements for consumer health and wellness benefits as well as in the pharmaceutical industry. The company anticipate launching our first product to large commercial buyers in early 2013, and having products on the market available to consumers shortly thereafter.
Patent 6,630,507 -
http://m.seekingalpha.com/article/1261871
Medical Marijuana, Inc.: Strategic Preparation For Expansion And Growth
Mar 11 2013, 5:29 | by Perry Coleman | about:MJNA.PK
include:FCLS.OB
In its recent March 7, 2013 press release, KannaLife Sciences, Inc announced its entry into a $1.5M Series-A financing agreement with CannaVest Corp (FCLS.OB) and Medical Marijuana, Inc (MJNA.PK) which is collaborating on the transaction. This article will focus on the value of the transaction to help investors better understand the importance of this strategic business arrangement.
Overview
MJNA has recently experienced exponential growth and with its focus on the alignment of its business structure to safeguard investor interests through its licensing strategy. I have written about this in the articles below:
Article 1 Jan 31, 2013 - Medical Marijuana, Inc: The Secret to Legally Tapping Into The Market For THC
Article 2 Feb 13, 2013 - Marijuana Legalization - Here and Now
Article 3 Feb 26, 2013 - Medical Marijuana, Inc. Uses Licensing Strategy to Expand Operations for PhytoSPHERE Systems, LLC
These initiatives have paved the way for a breakout year in 2013. And now with the investment in KannaLife, the company is further adding stability to its operations by focusing on standardizing product packaging, testing and identification with the company's superior product lines. What this translates into is a qualitative initiative to ensure the efficacy of its products. Efficacy refers to the ability of a product to produce the desired effect, but even more so, from a pharmacological perspective, to maximize the desired response from a particular drug or compound. The company is also improving its brand recognition which will create trust for all its product lines.
Strategic Value
Because KannaLife specializes in the research and development of pharmacological products derived from plants, they are uniquely suited to help Medical Marijuana achieve its goals. In July of 2012, KannaLife announced that it had signed an exclusive license agreement with the "National Institutes of Health - Office of Technology Transfer ("NIH-OTT") for the Commercialization of U.S. Patent 6,630,507, "Cannabinoids as Antioxidants and Neuroprotectants" (the "'507 Patent")." KannaLife plans to use Patent 6,630,507 to focus on Hepatic Encephalopathy which is associated with reduced brain function due to various forms of liver toxicity.
The NIH-OTT has oversight and management of intellectual property for the NIH, Department of Health and Human Services [HSS] and the Food and Drug Administration [FDA]. The OTT states on their website that they "are committed to seeing that the public has ongoing access to newer and more effective health care products and procedures."
The granting of the license to Patent 6,630,507 by the NIH-OTT demonstrates the confidence in the capability that KannaLife can successfully develop the intellectual property into successful treatments for disease. So what you, as an investor, now have with the investment with MJNA and CannaVest is a collaborative framework that can acquire and produce raw cannabinoid products, develop them into pharmacological substances while ensuring efficacy and safely packaging them for distribution. These are very complimentary businesses that fit strategically together into a value chain that is recognizable.
The Transaction
The investment transaction is outlined in CannaVEST's March 8, 2013 8-K Filing. As noted in the press release, the company entered into a Series-A Financing for a total of $1.5M. Series-A Financing is usually the first round of financing after the initial start-up capital and is usually derived from venture capital funds. If additional capital is needed in the future, a company can issue Series-B, Series-C and so on with each preceding issue having priority over the following others in regards to claims to future profits.
The total share count was listed as 1,019,813 of Series-A Preferred issued and outstanding and 5,205,000 of Common Stock issued and outstanding. The share breakout is listed below:
Excellent FCLS article - especially this:
The KannaLife investment has been hailed by some as a great move on part of the companies. KannaLife holds certain exclusive contracts and patents with the National Institute of Health for the neuro-protective use of cannabinoid substances.
http://www.hotstocked.com/article/47582/medical-marijuana-inc-pink-mjna-put-on-hold-by.html
Very nice FCLS !!!
Agreed HKipp, a huge relief for all of MMTC - Now maybe this was what the BOD was waiting for to share really good news? ;)
MJNA has it covered... great news... and FCLS 7 Million ss is miniscule!!
Outstanding news King Richard, the information on KannaLife holding the rights to the US Governments medical marijuana patent tells me this is a huge step in the forward movement of the industry... We are on the doorstep of a remarkable time. FCLS has a tiny share structure., does anyone else believe this was a plan to get to a higher exchange quickly? PPS is already where it needs to be for that requirement?
Neuroprotection
http://en.wikipedia.org/wiki/Neuroprotection
Neuroprotection
From Wikipedia, the free encyclopedia
Neuroprotection is a widely explored treatment option for many central nervous system (CNS) disorders including neurodegenerative diseases, stroke, traumatic brain injury, and spinal cord injury. Neuroprotection aims to prevent or slow disease progression and secondary injuries by halting or at least slowing the loss of neurons.[1] Despite differences in symptoms or injuries associated with CNS disorders, many of the mechanisms behind neurodegeneration are the same. Common mechanisms include increased levels in oxidative stress, mitochondrial dysfunction, excitotoxicity, inflammatory changes, iron accumulation, and protein aggregation.[1][2][3] Of these mechanisms, neuroprotective treatments often target oxidative stress and excitotoxicity—both of which are highly associated with CNS disorders. Not only can oxidative stress and excitotoxicity trigger neuron cell death but when combined they have synergistic effects that cause even more degradation on their own.[4] Thus limiting excitotoxicity and oxidative stress is a very important aspect of neuroprotection. Common neuroprotective treatments are glutamate antagonists and antioxidants, which aim to limit excitotoxicity and oxidative stress respectively.
Contents [hide]
1 Excitotoxicity
1.1 Glutamate antagonists
2 Oxidative stress
2.1 Antioxidants
3 Other neuroprotective treatments
4 References
5 Further reading
[edit]Excitotoxicity
Main article: Excitotoxicity
Glutamate excitotoxicity is one of the most important mechanisms known to trigger cell death in CNS disorders. Over-excitation of glutamate receptors, specifically NMDA receptors, allows for an increase in calcium ion (Ca2+) influx due to the lack of specificity in the ion channel opened upon glutamate binding.[4][5] As Ca2+ accumulates in the neuron, the buffering levels of mitochondrial Ca2+ sequestration are exceeded, which has major consequences for the neuron.[4] Because Ca2+ is a secondary messenger and regulates a large number of downstream processes, accumulation of Ca2+ causes improper regulation of these processes, eventually leading to cell death.[6][7][8] Ca2+ is also thought to trigger neuroinflammation, a key component in all CNS disorders[4]
[edit]Glutamate antagonists
Glutamate antagonists are the primary treatment used to prevent or help control excitotoxicity in CNS disorders. The goal of these antagonists is to inhibit the binding of glutamate to NMDA receptors such that accumulation of Ca2+ and therefore excitotoxicity can be avoided. Use of glutamate antagonists presents a huge obstacle in that the treatment much overcome selectivity such that binding is only inhibited when excitotoxicity is present. A number of glutamate antagonists have been explored as options in CNS disorders, but many are found to lack efficacy or have intolerable side effects. Glutamate antagonists are a hot topic of research. Below are some of the treatments that have promising results for the future:
Estrogen: 17ß-Estradiol helps regulate excitotoxicity by inhibiting NMDA receptors as well as other glutamate receptors.[9]
Ginsenoside Rd: Results from the study show ginsenoside rd attenuates glutamate excitotoxicity. Importantly, clinical trials for the drug in patients with ischemic stroke show it to be effective as well as noninvasive[5]
Progesterone: Administration of progesterone is well known to aid in the prevention of secondary injuries in patients with traumatic brain injury and stroke[8]
Simvastatin: Administration in models of Parkinson's disease have been shown to have pronounced neuroprotective effects including anti-inflammatory effects due to NMDA receptor modulation[9]
[edit]Oxidative stress
Main article: Oxidative stress
Increased levels of oxidative stress can be caused in part by neuroinflammation, which is a highly recognized part of cerebral ischemia as well as many neurodegenerative diseases including Parkinson's disease, Alzheimer's disease, and Amyotrophic Lateral Sclerosis.[3][4] The increased levels of oxidative stress are widely targeted in neuroprotective treatments because of their role in causing neuron apoptosis. Oxidative stress can directly cause neuron cell death or it can trigger a cascade of events that leads to protein misfolding, proteasomal malfunction, mitochondrial dysfunction, or glial cell activation.[1][2][3][10] If one of these events is triggered, further neurodegradation is caused as each of these events causes neuron cell apoptosis.[2][3][10] By decreasing oxidative stress through neuroprotective treatments, further neurodegradation can be inhibited.
[edit]Antioxidants
Main article: Antioxidants
Antioxidants are the primary treatment used to control oxidative stress levels. Antioxidants work to eliminate reactive oxygen species, which are the prime cause of neurodegradation. The effectiveness of antioxidants in preventing further neurodegradation is not only disease dependent but can also depend on gender, ethnicity, and age. Listed below are common antioxidants shown to be effective in reducing oxidative stress in at least one neurodegenerative disease:
Deprenyl: This has been shown to slow early progression of symptoms and delayed the emergence of disability by an average of nine months.[2]
Estrogen: 17a-estradiol and 17ß-estradiol have been shown to be effective as antioxidants. The potential for these drugs is enormous. 17a-estradiol is the nonestrogenic stereoisomer of 17ß-estradiol. The effectiveness of 17a-estradiol is important because it shows that the mechanism is dependent on the presence of the specific hydroxyl group, but independent of the activation of estrogen receptors. This means more antioxidants can be developed with bulky side chains so that they don't bind to the receptor but still possess the antioxidant properties.[11]
Fish oil: This contains n-3 polyunsaturated fatty acids that are known to offset oxidative stress and mitochondrial dysfunction. It has high potential for being neuroprotective and many studies are being done looking at the effects in neurodegenerative diseases[12]
Minocycline: Minocycline is a semi-synthetic tetracycline compound that is capable of crossing the blood brain barrier. It is known to be a strong antioxidant and has broad anti-inflammatory properties. Minocyline has been shown to have neuroprotective activity in the CNS for Huntington's disease, Parkinson's disease, Alzheimer's disease, and ALS.[13][14]
Resveratrol: Resveratrol prevents oxidative stress by attenuating hydrogen peroxide-induced cytotoxicity and intracellular accumulation of ROS. It has been shown to exert protective effects in multiple neurological disorders including Alzheimer's disease, Parkinson's disease, multiple sclerosis, and ALS as well as in cerebral ischemia.[15][16]
Vitamin E: Vitamin E has had varying responses as an antioxidant depending on the neurodegenerative disease that it is being treated. It is most effective in Alzheimer's disease and has been shown to have questionable neuroprotection effects when treating ALS. Vitamin E ineffective for neuroprotection in Parkinson's disease.[2][3]
[edit]Other neuroprotective treatments
More neuroprotective treatment options exist that target different mechanisms of neurodegradation. Continued research is being done in an effort to find any method effective in preventing the onset or progression of neurodegenerative diseases or secondary injuries. These include:
Caspase inhibitors: These are primarily used and studied for their anti apoptotic effects.[17]
Trophic factors: The use of trophic factors for neuroprotection in CNS disorders is being explored, specifically in ALS. Potentially neuroprotective trophic factors include CNTF, IGF-1, VEGF, and BDNF[18]
Anti protein aggregation agents: Protein aggregation is a known source of neuron cell death. Different treatments are being looked at for potentially eliminating this as a source of neurodegeneration. These include sodium 4-phenylbutyrate, trehalose, and polyQ-binding peptide.[19]
Therapeutic hypothermia: This is being explored as a neuroprotection treatment option for patients with traumatic brain injury and is suspected to help reduce intracranial pressure.[20]
[edit]References
Per KannaLife's own PR's they are interested in:
NEW YORK, July 9, 2012 /PRNewswire/ -- KannaLife Sciences, Inc. ("KannaLife") Signs Exclusive License Agreement With National Institutes of Health – Office of Technology Transfer ("NIH-OTT") for the Commercialization of U.S. Patent 6,630,507, "Cannabinoids as Antioxidants and Neuroprotectants" (the "'507 Patent").
The '507 Patent includes among other things, claims directed to a method of treating diseases caused by oxidative stress by administering a therapeutically effective amount of a non-psychoactive cannabinoid that has substantially no binding to the NMDA receptor. Cannabinoids are any of a group of related compounds that include cannabinol and the active constituents of cannabis (marijuana).
Pursuant to the terms of the exclusive license with NIH-OTT, KannaLife intends to move forward with its commercial development plan, and design a novel new drug compound for the treatment of Hepatic Encephalopathy (HE). KannaLife believes its target drug candidate will be comprised of one or more cannabinoid(s) for use and delivery in humans as FDA approved drugs. Currently, in the United States, there are over 1.5 million sufferers of Hepatic Encephalopathy,
Dean Petkanas , Founder and CEO of KannaLife Sciences, Inc. stated, "We are very proud of our efforts to date in designing a rational and viable commercial development plan for a target therapeutic with a potentially new and exciting mechanism of action. We are greatly appreciative of the efforts put forth by the dedicated professionals and scientists at NIH-OTT who worked with us during the licensing process, and for helping to bring the exclusive licensing of the '507 Patent to a successful conclusion. We believe the initiatives put forth by President Obama and his administration regarding small business played a big role in providing KannaLife with the opportunity of competing in an equitable licensing arena."
About the NIH Office of Technology Transfer (NIH-OTT):
NIH-OTT manages the patenting and licensing of a wide range of inventions made by scientists working for the NIH and FDA intramural research programs as mandated by the Federal Technology Transfer Act.
Additional information about NIH-OTT can be found at http://www.ott.nih.gov.
About KannaLife Sciences, Inc.
KannaLife Sciences, Inc. is a late stage bio-pharmaceutical and phyto-medical company involved in the research and development of novel new therapeutic agents designed to reduce oxidative stress, and act as immuno-modulators and neuroprotectants.
I'm amazed at how little talk there is on the patent, let alone the market potential... do people not realize how significant this is? Seriously, one company -KannaLife - was awarded the right by the US Government for one portion/area of research... one company.
They have had time to develop their drug(s?)... Big Pharma on the doorstep..... the only company that is similar with a marijuana pharmaceutical is traded on the London exchange
... at 55.00 a share with a share structure of 125 Million...
http://www.gwpharm.com/
FCLS has the all important patent right and that foot in the door...
Thanks Doc, looking forward to that as well.
Will there be a new ticker symbol for Cannavest?
FCLS to own 33.3% of KannaLife!!!
http://ih.advfn.com/p.php?pid=nmona&article=56626145
Looks Like FCLS"CANNAVEST" has some money:) And we know its Daddy MJNA does too lol
FCLS to own 33.3% of KannaLife!!!
http://ih.advfn.com/p.php?pid=nmona&article=56626145
Looks Like FCLS"CANNAVEST" has some money:) And we know its Daddy MJNA does too lol
FCLS to own 33.3% of KannaLife!!!
http://ih.advfn.com/p.php?pid=nmona&article=56626145
Looks Like FCLS"CANNAVEST" has some money:) And we know its Daddy MJNA does too lol
This is amazing news Doc!! Yes, tight circle here now,
MJNA FCLS PhytoSphere - and KannaLife.... just amazing considering how small the share structure is... good luck to all!
http://www.kannalife.com/kannalife-sciences-inc-signs-exclusive-license-agreement-with-national-institutes-of-health-office-of-technology-transfer-nih-ott/
KannaLife Sciences, Inc. Signs Exclusive License Agreement with National Institutes of Health Office of Technology Transfer (NIH-OTT)
NEW YORK, July 9, 2012 — KannaLife Sciences, Inc. (“KannaLife”) Signs Exclusive License Agreement With National Institutes of Health – Office of Technology Transfer (“NIH-OTT”) for the Commercialization of U.S. Patent 6,630,507, “Cannabinoids as Antioxidants and Neuroprotectants” (the “’507 Patent”).
The ’507 Patent includes among other things, claims directed to a method of treating diseases caused by oxidative stress by administering a therapeutically effective amount of a non-psychoactive cannabinoid that has substantially no binding to the NMDA receptor. Cannabinoids are any of a group of related compounds that include cannabinol and the active constituents of cannabis (marijuana).
Pursuant to the terms of the exclusive license with NIH-OTT, KannaLife intends to move forward with its commercial development plan, and design a novel new drug compound for the treatment of Hepatic Encephalopathy (HE). KannaLife believes its target drug candidate will be comprised of one or more cannabinoid(s) for use and delivery in humans as FDA approved drugs. Currently, in the United States, there are over 1.5 million sufferers of Hepatic Encephalopathy,
Dean Petkanas, Founder and CEO of KannaLife Sciences, Inc. stated, “We are very proud of our efforts to date in designing a rational and viable commercial development plan for a target therapeutic with a potentially new and exciting mechanism of action. We are greatly appreciative of the efforts put forth by the dedicated professionals and scientists at NIH-OTT who worked with us during the licensing process, and for helping to bring the exclusive licensing of the ’507 Patent to a successful conclusion. We believe the initiatives put forth by President Obama and his administration regarding small business played a big role in providing KannaLife with the opportunity of competing in an equitable licensing arena.”
About the NIH Office of Technology Transfer (NIH-OTT):
NIH-OTT manages the patenting and licensing of a wide range of inventions made by scientists working for the NIH and FDA intramural research programs as mandated by the Federal Technology Transfer Act.
Additional information about NIH-OTT can be found at http://www.ott.nih.gov.
About KannaLife Sciences, Inc.
KannaLife Sciences, Inc. is a late stage bio-pharmaceutical and phyto-medical company involved in the research and development of novel new therapeutic agents designed to reduce oxidative stress, and act as immuno-modulators and neuroprotectants.
Website: www.kannalife.com
SOURCE KannaLife Sciences, Inc.
It may be of interest to see another marijuana pharmaceutical stock from the London exchange, GW* trades $55.00 with over 125 million shares... they make one marijuana pharmaceutical.... that is why KannaLife is huge...
Update: KannaLife did receive exclusive rights to the US patent on marijuana, but CEO Dean Petkanas told our sister blog Toke of the Town last night that it only applies to a very specific medical condition and that they have no plans to expand their research. "We don't want to be involved in the production, growth or dispensing of marijuana at the retail level," Petkanas said.
For more of Steve Elliot's interview with Petkanas, click over to Toke of the Town.
Original post, 4:28 p.m., Dec. 19: The U.S Department of Health and Human Services is about to give exclusive rights to the government-owned patent on marijuana to a single pharmaceutical company based in New York -- a state that doesn't even recognize medical marijuana as a valid therapy.Think that's unfair, fellow Colorado medical marijuana patient? Well, you've still got a few hours left to write in and tell the government your thoughts.
Since October 2003, the U.S. government has owned the patent on marijuana when used medically as an antioxidant and neuroprotectant. Currently, the NHS is planning to grant exclusive rights for US patent 6,630,507 to KannaLife Sciences, Inc.
Michael Elliott, director of Colorado's Medical Marijuana Industry Group, say it's insulting to patients and growers living in medical marijuana states currently being prosecuted under a federal system that doesn't recognize any medical value to the cannabis plant.
"This contemplated grant of an exclusive license to develop and sell cannabinoid based medicines under a patent owned by the federal government shows the incoherence in the federal government's position toward the medicinal value of cannabis," Elliott said. "It's unfortunate that this incoherence has to be determined on the backs of Colorado patients and compliant Colorado businesses."
According to the LinkedIn profile of KannaLife Science's CEO Dean Petkanas, the company's "plan for generating revenue" is to use the patent to create anti-oxidant skin care lotions and "biopharmaceutical" products to treat neuro-degenerative disorders. They also plan on developing a proprietary, automated packaging system for their products.
I sure do agree that MJNA can get the job done.. already so much accomplished in the industry.
I can't answer that truthfully Oysters, but much, much more is going on behind the scenes. The amazing part is this is the only company the US Government is working with on it's patent for medical marijuana. Very exciting.
KannaLife Sciences received exclusive rights to the US Patent on marijuana..... that is the US GOVERNMNET'S PATENT... KannaLife Sciences is the only company the feds are allowing to work on medical marijuana.... I have been waiting for 2 years to see when KannaLife would make it's move....
http://blogs.westword.com/latestword/2011/12/feds_close_to_granting_medical.php
see also FCLS board
Mile Highs and Lows
Feds close to granting medical marijuana patent to NY-based research company?
By William Breathes Mon., Dec. 19 2011 at 4:28 PM 31 Comments
Categories: Marijuana, Mile Highs and Lows
Update: KannaLife did receive exclusive rights to the US patent on marijuana, but CEO Dean Petkanas told our sister blog Toke of the Town last night that it only applies to a very specific medical condition and that they have no plans to expand their research. "We don't want to be involved in the production, growth or dispensing of marijuana at the retail level," Petkanas said.
For more of Steve Elliot's interview with Petkanas, click over to Toke of the Town.
Original post, 4:28 p.m., Dec. 19: The U.S Department of Health and Human Services is about to give exclusive rights to the government-owned patent on marijuana to a single pharmaceutical company based in New York -- a state that doesn't even recognize medical marijuana as a valid therapy.Think that's unfair, fellow Colorado medical marijuana patient? Well, you've still got a few hours left to write in and tell the government your thoughts.
Since October 2003, the U.S. government has owned the patent on marijuana when used medically as an antioxidant and neuroprotectant. Currently, the NHS is planning to grant exclusive rights for US patent 6,630,507 to KannaLife Sciences, Inc.
Michael Elliott, director of Colorado's Medical Marijuana Industry Group, say it's insulting to patients and growers living in medical marijuana states currently being prosecuted under a federal system that doesn't recognize any medical value to the cannabis plant.
"This contemplated grant of an exclusive license to develop and sell cannabinoid based medicines under a patent owned by the federal government shows the incoherence in the federal government's position toward the medicinal value of cannabis," Elliott said. "It's unfortunate that this incoherence has to be determined on the backs of Colorado patients and compliant Colorado businesses."
According to the LinkedIn profile of KannaLife Science's CEO Dean Petkanas, the company's "plan for generating revenue" is to use the patent to create anti-oxidant skin care lotions and "biopharmaceutical" products to treat neuro-degenerative disorders. They also plan on developing a proprietary, automated packaging system for their products.
Others are concerned that the government is ignoring research and treatments currently going on legally in states that do allow medical marijuana. While most in the medical cannabis community would argue that further research into medical cannabis is needed, few would agree that a single company should have exclusive rights to do so. Not only does that put profits back into the $500 billion pharmaceutical industry, but as our friend Steve Elliot over at our sister blog, Toke of the Town, points out in his excellent post on the subject, this could be a way for the federal government to "bulldoze the cottage medical marijuana industry.
Public comment on the possible licensing ends today. Comments need to be submitted in writing and will be accepted through Dec. 19 (today). We take that to mean email as well, so send your thoughts on the matter to:
Betty B. Tong, Ph.D.
Senior Licensing and Patenting Manager
Office of Technology Transfer
National Institutes of Health
6011 Executive Boulevard, Suite 325
Rockville, MD 20852-3804
Email tongb@mail.nih.gov
Telephone (301) 594-6565 (note that NIH will only accept written comments for consideration)
Fax (301) 402-0220
Website http://www.ott.nih.gov/contactus/licensing_and_patenting.aspx
This is sick news Doc., one company has access to the US Government's medical marijuana hold on the patent.. and it's KannaLife.... Way to go MJNA/FCLS !!!!!!!!!
This stock should not be at 15.00 with this float.
http://www.prnewswire.com/news-releases/kannalife-sciences-inc-signs-exclusive-license-agreement-with-national-institutes-of-health-office-of-technology-transfer-nih-ott-161771745.html
NEW YORK, July 9, 2012 /PRNewswire/ -- KannaLife Sciences, Inc. ("KannaLife") Signs Exclusive License Agreement With National Institutes of Health – Office of Technology Transfer ("NIH-OTT") for the Commercialization of U.S. Patent 6,630,507, "Cannabinoids as Antioxidants and Neuroprotectants" (the "'507 Patent").
The '507 Patent includes among other things, claims directed to a method of treating diseases caused by oxidative stress by administering a therapeutically effective amount of a non-psychoactive cannabinoid that has substantially no binding to the NMDA receptor. Cannabinoids are any of a group of related compounds that include cannabinol and the active constituents of cannabis (marijuana).
Pursuant to the terms of the exclusive license with NIH-OTT, KannaLife intends to move forward with its commercial development plan, and design a novel new drug compound for the treatment of Hepatic Encephalopathy (HE). KannaLife believes its target drug candidate will be comprised of one or more cannabinoid(s) for use and delivery in humans as FDA approved drugs. Currently, in the United States, there are over 1.5 million sufferers of Hepatic Encephalopathy,
Dean Petkanas , Founder and CEO of KannaLife Sciences, Inc. stated, "We are very proud of our efforts to date in designing a rational and viable commercial development plan for a target therapeutic with a potentially new and exciting mechanism of action. We are greatly appreciative of the efforts put forth by the dedicated professionals and scientists at NIH-OTT who worked with us during the licensing process, and for helping to bring the exclusive licensing of the '507 Patent to a successful conclusion. We believe the initiatives put forth by President Obama and his administration regarding small business played a big role in providing KannaLife with the opportunity of competing in an equitable licensing arena."
About the NIH Office of Technology Transfer (NIH-OTT):
NIH-OTT manages the patenting and licensing of a wide range of inventions made by scientists working for the NIH and FDA intramural research programs as mandated by the Federal Technology Transfer Act.
Additional information about NIH-OTT can be found at http://www.ott.nih.gov.
About KannaLife Sciences, Inc.
KannaLife Sciences, Inc. is a late stage bio-pharmaceutical and phyto-medical company involved in the research and development of novel new therapeutic agents designed to reduce oxidative stress, and act as immuno-modulators and neuroprotectants
KannaLife Sciences received exclusive rights to the US Patent on marijuana..... that is the US GOVERNMNET'S PATENT... KannaLife Sciences is the only company the feds are allowing to work on medical marijuana.... I have been waiting for 2 years to see when KannaLife would make it's move....
http://blogs.westword.com/latestword/2011/12/feds_close_to_granting_medical.php
Mile Highs and Lows
Feds close to granting medical marijuana patent to NY-based research company?
By William Breathes Mon., Dec. 19 2011 at 4:28 PM 31 Comments
Categories: Marijuana, Mile Highs and Lows
Update: KannaLife did receive exclusive rights to the US patent on marijuana, but CEO Dean Petkanas told our sister blog Toke of the Town last night that it only applies to a very specific medical condition and that they have no plans to expand their research. "We don't want to be involved in the production, growth or dispensing of marijuana at the retail level," Petkanas said.
For more of Steve Elliot's interview with Petkanas, click over to Toke of the Town.
Original post, 4:28 p.m., Dec. 19: The U.S Department of Health and Human Services is about to give exclusive rights to the government-owned patent on marijuana to a single pharmaceutical company based in New York -- a state that doesn't even recognize medical marijuana as a valid therapy.Think that's unfair, fellow Colorado medical marijuana patient? Well, you've still got a few hours left to write in and tell the government your thoughts.
Since October 2003, the U.S. government has owned the patent on marijuana when used medically as an antioxidant and neuroprotectant. Currently, the NHS is planning to grant exclusive rights for US patent 6,630,507 to KannaLife Sciences, Inc.
Michael Elliott, director of Colorado's Medical Marijuana Industry Group, say it's insulting to patients and growers living in medical marijuana states currently being prosecuted under a federal system that doesn't recognize any medical value to the cannabis plant.
"This contemplated grant of an exclusive license to develop and sell cannabinoid based medicines under a patent owned by the federal government shows the incoherence in the federal government's position toward the medicinal value of cannabis," Elliott said. "It's unfortunate that this incoherence has to be determined on the backs of Colorado patients and compliant Colorado businesses."
According to the LinkedIn profile of KannaLife Science's CEO Dean Petkanas, the company's "plan for generating revenue" is to use the patent to create anti-oxidant skin care lotions and "biopharmaceutical" products to treat neuro-degenerative disorders. They also plan on developing a proprietary, automated packaging system for their products.
Others are concerned that the government is ignoring research and treatments currently going on legally in states that do allow medical marijuana. While most in the medical cannabis community would argue that further research into medical cannabis is needed, few would agree that a single company should have exclusive rights to do so. Not only does that put profits back into the $500 billion pharmaceutical industry, but as our friend Steve Elliot over at our sister blog, Toke of the Town, points out in his excellent post on the subject, this could be a way for the federal government to "bulldoze the cottage medical marijuana industry.
Public comment on the possible licensing ends today. Comments need to be submitted in writing and will be accepted through Dec. 19 (today). We take that to mean email as well, so send your thoughts on the matter to:
Betty B. Tong, Ph.D.
Senior Licensing and Patenting Manager
Office of Technology Transfer
National Institutes of Health
6011 Executive Boulevard, Suite 325
Rockville, MD 20852-3804
Email tongb@mail.nih.gov
Telephone (301) 594-6565 (note that NIH will only accept written comments for consideration)
Fax (301) 402-0220
Website http://www.ott.nih.gov/contactus/licensing_and_patenting.aspx
Smart money is acquiring ;)
The release of two PR's, January 31st and February 12th, tells me we're ready.
The paragraph in red speaks volumes ~
Micro Imaging Technology Announces Paradigm Shift in Approach to Providing Software-Based Identification of Microbes
Date : 02/12/2013 @ 8:00AM
Source : MarketWire
Stock : Micro Imaging Technology, Inc. (QB) (MMTC)
Quote : 0.0023 -0.0005 (-17.86%) @ 5:05PM
Micro Imaging Technology Announces Paradigm Shift in Approach to Providing Software-Based Identification of Microbes
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Alert
Micro Imaging Technology, Inc. (QB) (USOTC:MMTC)
Historical Stock Chart
1 Month : From Jan 2013 to Feb 2013
Micro Imaging Technology, Inc. (OTCQB: MMTC) MIT has developed and patented the MIT 1000, a Microbial Identification System that revolutionizes the pathogenic bacteria diagnostic process and can annually save thousands of lives and tens of millions of dollars in health care costs. This technology, which the Company markets under the name Micro Identification Technologies®, will identify bacteria in minutes at a significantly lower cost per test compared to conventional methods.
Until recently, MIT's Microbial Identification System, the MIT 1000, was comprised of a hardware detection unit, the MIT 1000 Instrument, and a software-based identification component that ran on a dedicated desktop PC with an installed A/D (analog-to-digital) data collection board. This configuration required a bulky, proprietary ribbon cable connected between the MIT 1000 Instrument and the A/D board in the PC. The identification software used two software components: the User Interface program and customer selected collection of MIT Identifiers™. The User Interface program operates the MIT 1000 Instrument and performs microbial identifications using the installed MIT Identifier™ collection. The User Interface program implements the identification component, MIT's proprietary algorithms, necessary for successful identification of a given microbial sample. Updates to the User Interface program or the MIT Identifier™ collection required manual installation of the new version by the end user.
"Today," says MIT's Chief Scientist, David Haavig, PhD, "MIT has transitioned to a new approach that involves a relatively new trend in the computing world commonly referred to as 'the cloud.' The implementation of MIT's proprietary algorithms and the MIT Identifiers™ now resides on high-availability server clusters in geographically disparate data centers." A/D conversion is now performed within the MIT 1000 Instrument and is now connected to a PC via a standard USB cable. Collected data is sent to the identification component via a standard internet connection. This approach allows for protection of MIT's proprietary algorithms and MIT Identifiers™ from reverse engineering, use of a very low cost, general-purpose PC for the User Interface program, and, after a simplified initial installation of the User Interface program software by the end user, push installation of updates. This usage model also inherently allows controlled access to MIT's catalog of Identifiers™, circumventing the need for updating customers' local software whenever new Identifiers™ are added or when the customer chooses to obtain licensing for additional Identifiers™. This design allows for the next version of the system to integrate the general-purpose PC functionality into the MIT 1000 system, providing a completely stand-alone design.
Dr. Haavig concluded, "I am excited about the release of this new technology. It provides tremendous simplification of the software upgrade process and allows for hardening of security."
About: Micro Imaging Technology, Inc.
Micro Imaging Technology, Inc. is a California-based public company that is also registered to do business under the name Micro Identification Technologies. MIT has developed and patented the MIT-1000, a stand-alone, optically-based, software driven system that can detect pathogenic bacteria and complete an identification test, after culturing, in less than five (5) minutes for pennies per test when compared to any other conventional method. It does not rely on chemical or biological agents, conventional processing, fluorescent tags, gas chromatography or DNA analysis. The process requires only clean particle-free water and a sample of the unknown bacteria. Revenues for all rapid testing methods exceed $5 billion annually -- with food safety accounting for over $3.5 billion, which is expected to surpass $4.7 billion by 2015 according to BCC Research. In addition, the recently passed "New" U.S. Food Safety Bill is expected to further accelerate the current annual growth rate of 6.6 percent.
You can find more information about our company and about Micro Identification Technologies™. Please visit our newly enhanced website at www.micro-identification.com.
This release contains statements that are forward-looking in nature. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions are forward-looking statements. These statements are made based upon information available to the Company as of the date of this release, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include, but are not limited to dependence on suppliers; short product life cycles and reductions in unit selling prices; delays in development or shipment of new products; lack of market acceptance of our new products or services; inability to continue to develop competitive new products and services on a timely basis; introduction of new products or services by major competitors; our ability to attract and retain qualified employees; inability to expand our operations to support increased growth; and declining economic conditions, including a recession. These and other factors and risks associated with our business are discussed from time to time within our filings with the Securities and Exchange Commission, reference MMTC: www.sec.gov.
CONTACT:
Jeffrey Nunez
President and CEO
Email: Email Contact
Web Site: www.micro-identification.com
Telephone: (949) 388-4546
Aquentium Announces Air and Water Purification Equipment for Medical Marijuana Industry
Date : 02/14/2013 @ 2:29PM
Source : Business Wire
Stock : Aquentium, Inc. (QB) (AQNM)
Quote : 0.045 0.0055 (13.92%) @ 5:02PM
Aquentium Announces Air and Water Purification Equipment for Medical Marijuana Industry
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Alert
Aquentium, Inc. (QB) (USOTC:AQNM)
Intraday Stock Chart
Today : Friday 15 February 2013
Aquentium, Inc. (OTCQB: AQNM), a manufacturer of ozone air and water purification systems for commercial businesses, announced today that the company will begin manufacturing ozone air and water purification equipment designed for use by legal growers of medical marijuana in the United States and internationally.
“Aquentium believes that America is at the beginning of a 'Green Rush,' an ever-increasing interest in the rapidly growing industry surrounding what seems to be the beginning of the end of marijuana prohibition. There are now 18 states that permit medical marijuana for people suffering from a multitude of serious illnesses and disorders, while residents in the state of Washington and the state of Colorado have already voted for legalization regarding recreational use,” stated Aquentium President Mark Taggatz.
The Aquentium ozone air systems are designed to eliminate unwanted odors, while the Aquentium water systems are designed to enhance growing by killing germs and diseases. Treating water with ozone will kill damaging bacteria and will sterilize the root base and growing media while providing roots with extra oxygen.
“Ozone is one of the most effective bactericides known. Waterborne diseases are controlled by the injected ozone, which destroys fungi, pathogenic bacteria, viruses and organochlorines. These disease-causing microbes can greatly reduce plant growth and yields or even destroy entire crops. Once it has done its job, any excess ozone will break down into oxygen, which super oxygenates the nutrient solution, promoting rapid healthy root development. Ozone is not harmful to beneficial aerobic bacteria that thrive in an oxygen-rich environment. Plants grow faster and healthier, producing higher yields,” added Taggatz.
Proponents of medical marijuana argue that it can be a safe and effective treatment for the symptoms of cancer, AIDS, multiple sclerosis, pain, glaucoma, epilepsy, and other conditions. They cite dozens of peer-reviewed studies, prominent medical organizations, and the use of marijuana as medicine throughout world history.
Safe Harbor Statement: Certain statements in this news release may contain "forward-looking" information within the meaning of rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. There can be no assurance that such forward-looking statements will be accurate and actual results and future events could differ materially from those anticipated in such statements.
AQNM FLOAT 57M
That may well be the hold up., if they have to cert each one? Along with MMTC having the library/software for customers to keep up to date... add to that the Health Care Reform Act.. and a conservative 5 Billion dollar market estimate...
Unprecedented if they cover all species - simply remarkable.. I have looked briefly at the competition and am not finding anyone that covers more than a dozen species.. I'll be working on that over the next couple of days... if MMTC is covering a large number that would be the tipping point... ;)
Do we know what the identifiers are RM? This sounds as though they are adding to the types or strains of pathogens the MIT 1000 can identify?
Agreed TSTARK - all in and still buying..
Page 6
Based on a very preliminary evaluation of market needs and the size and number of possible customers, we estimate that the market potential for the MIT System in all of the above domestic market areas could exceed $3 billion annually. More detailed market validation will be conducted as our development program continues.
With regard to the MIT System, there are established methods of testing currently employed by both public and private agencies. However, these methods are labor intensive, expensive and time consuming, and do not provide the rapid capabilities which our product offers. We believe that the MIT System is the only microbe identification system that is not biologically based – that is, does not rely on biological agents or reagents.
The Markets for Microbe Identification
The number of applications for our laser-based rapid microbe detection system is large, including food inspection, clinical applications and water testing. However, we have elected in the near term to focus on food inspection:
The Food and Drug Administration currently requires elaborate laboratory procedures taking up to 64 hours to identify E. coli, Salmonella or Listeria. According to industry analysts at Strategic Consultants, Inc (Scarborough, ME.) there were over 144 million microbiology tests performed in almost 6,000 plants. The analysts further report that food manufacturers and processors anticipate a continued increase in testing as regulatory agencies require more surveillance and monitoring programs. The MIT system identifies bacteria, after culturing, in less than 5 minutes, thus minimizing the testing and reporting time which minimizes health risks, product recall dangers and expenses to the producer.
Right BSW ~ Not to mention the library via software that MMTC MIT owners will be able to access, and protecting the technology of MIT at the same time... - very well thought out business plan.
MMTC ~ There it is OSI Optoelectronics (OSIO), a subsidiary of OSI Systems The great thing about OSIS is all the subsidiaries they acquire.
Perfect set up here... Inside ownership over 80%, AOAC certification, Food Safety Reform, OSIS 5 year commitment, and the BOD has their own boots on the ground introducing the MIT 1000...
oh! and eColi certs on the way!!
; )
Thanks SG, you as well, Great thing about this trend in energy is the competition is not publicly traded.. great time to buy in!!
; )
That's a great interview and PR - there is so much potential here, great products, next phase of power for transportation and media.
I sent an email to the company asking similar questions,
I have not yet had a reply, that was two days ago. I will
be happy to post any reply I might receive.
In this interview D'Couto discussed the difference between Boeing's current Li battery problems and the NPWZ technology that would solve the problem. Gotta hope Boeing or Raytheon is still in the wings of this company.
Jan 18, link to MONEY TV Interview, Chris D'Couto, CEO
http://www.moneytv.net/
Good interview, mentions Boeing's current lithium problem and NPWZ's solution