Medical Marijuana, Inc. Portfolio Investment Company Kannalife, Inc. Issues Update on Intellectual Property and Newly Acquired Patents
9:00 AM ET 1/23/20 | Dow Jones
SAN DIEGO, Jan. 23, 2020 /PRNewswire/ -- Medical Marijuana, Inc. (OTC: MJNA) (the "Company"), the first-ever publicly traded cannabis company in the United States that launched the world's first-ever cannabis-derived nutraceutical products, brands and supply chain, announced today that its portfolio investment company Kannalife, Inc. ("Kannalife") (OTC: KLFE) recently provided an update on its intellectual property revolving around its global WIPO/PCT Patent WO2015/106108A2 titled "Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy" (the "PCT Patent").
"We are proud to have Kannalife as part of our investment portfolio as they are continuously reaching new milestones in researching cannabinoid therapeutics," said Medical Marijuana, Inc. CEO Dr. Stuart Titus. "The amount of research in this space has increased tremendously over the past year but there is still significant progress to be made. It's encouraging to see Kannalife at the forefront of this."
Since the filing of the PCT Patent in 2015, Kannalife has received patent approval in the following jurisdictions: U.S. Patent 9,611,213 "Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy," U.S. Patent 10,004,722 "Method for treating hepatic encephalopathy or a disease associated with free radical mediate stress and oxidative stress with novel functionalized 1,3-benzene diols," Japanese Patent JP6486950B2 "Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy" and Russian Patent RU2676475C2 "Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy."
Additionally, Kannalife's application for patent protection of its intellectual property has been accepted in the European Union (EU), China, and Australia. The Company is awaiting notice from Canada, Brazil and India for notice of acceptance. The Company anticipates receipt of patent grants from the EU, China and Australia sometime during the first and second quarters of 2020.
"When we filed our patent application for 'Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy,' we chose what we believe to be the most viable pharmaceutical markets for moving our compounds into clinical trials," said Dean Petkanas, CEO of Kannalife. "The additional patents we have acquired will help us achieve those goals in additional markets."
Currently, Kannalife's leading drug candidate KLS-13019, a cannabidiol (CBD)-like molecule is being investigated in pre-clinical studies for the potential treatment of neuropathic pain. Through extensive testing, Kannalife has identified a potent, non-opioid alternative to the frontline treatment of chemotherapy-induced peripheral neuropathy (CIPN).
About Medical Marijuana, Inc.
We are a company of firsts(R). Medical Marijuana, Inc. (MJNA) is a cannabis company with three distinct business units in the non-psychoactive cannabinoid space: a global portfolio of cannabinoid-based nutraceutical brands led by Kannaway(R) and HempMeds(R); a pioneer in sourcing the highest-quality legal non-psychoactive cannabis products derived from industrial hemp; and a cannabinoid-based clinical research and botanical drug development sector led by its internal R&D and scientific team and its pharmaceutical investment companies and partners including AXIM(R) Biotechnologies, Inc. and Kannalife, Inc. Medical Marijuana, Inc. was named a top CBD producer by CNBC. Medical Marijuana, Inc. was also the first company to receive historic import permits for CBD products from the governments of Brazil, Mexico, Argentina, and Paraguay and is a leader in the development of international markets. Medical Marijuana, Inc.'s headquarters is in San Diego, California, and additional information is available at OTCMarkets.com or by visiting www.medicalmarijuanainc.com.
To see Medical Marijuana, Inc.'s corporate video, click here.
Shareholders and consumers are also encouraged to buy CBD oil and other products at Medical Marijuana, Inc.'s shop.
KLS-13019 is Kannalife's leading proprietary investigational CBD-like product for the potential treatment of a range of neurodegenerative and neuropathic pain disorders, beginning with chemotherapy-induced peripheral neuropathy (CIPN). KLS-13019 has not been reviewed or approved for patient use by the U.S. Food and Drug Administration (FDA) or any other healthcare authority in the world. Its safety and efficacy have not been confirmed by FDA-approved research.
About Kannalife, Inc.
Kannalife, Inc. is a biopharmaceutical company focused on the development of proprietary and patented cannabidiol (CBD) and CBD-like molecules for patients suffering from unmet medical needs of neurodegenerative disorders - including chemotherapy-induced peripheral neuropathy (CIPN), a chronic neuropathy caused by toxic chemotherapeutic agents; hepatic encephalopathy (HE), a neurotoxic brain-liver disorder caused by excessive concentrations of ammonia and ethanol in the brain; mild traumatic brain injury (mTBI), a disorder associated with single and repetitive impact injuries; and chronic traumatic encephalopathy (CTE) a disease associated with highly repetitive impact injuries in professional and amateur sports.
The Company's family of proprietary molecules focuses on treating oxidative stress-related diseases such as HE, chronic pain from neuropathies like CIPN, and neurodegenerative diseases like CTE. Kannalife conducts its research and development efforts at the Pennsylvania Biotechnology Center of Bucks County in Doylestown, PA.
For more information about Kannalife, Inc., visit www.kannalife.com and visit the Company's Twitter page at @Kannalife.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana, Inc. to be materially different from the statements made herein.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease.
Medical Marijuana, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act.
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SOURCE Medical Marijuana, Inc.
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January 23, 2020 09:00 ET (14:00 GMT)