Replies to post #238146 on Medical Marijuana Inc (MJNA)

[delerious1]

Medical Marijuana, Inc. Portfolio Investment Company Neuropathix Announces Grant Award For Parkinson's Research
SAN DIEGO, CA -(NewMediaWire) - June 26, 2024 - Medical Marijuana, Inc. (OTC: MJNA) (the "Company"), announced today that Kannalife Sciences, Inc. (Kannalife"), a wholly-owned subsidiary of the Company's portfolio investment company Neuropathix, Inc., a pioneering biotech company specializing in the development of small molecule synthetic cannabinoid therapeutics targeting inflammation, was awarded grant funding of $1.49 million for its Parkinson’s research using its Cannabinoid Therapeutic KLS-13019. The Company owns approximately 22% of Neuropathix.

Read the full Press Release here: https://www.globenewswire.com/news-release/2024/06/25/2903784/0/en/Kannalife-Secures-Funding-of-1-49-Million-from-The-Michael-J-Fox-Foundation-for-Parkinson-s-Research.html

Medical Marijuana, Inc. Chairman and CEO, Tim Scott, commented on the news; "We are one of Neuropathix’s largest shareholders and the securing of this grant to its wholly-owned subsidiary Kannalife is a very welcome development. We believe that Kannalife's proprietary cannabinoid therapeutic KLS-13019 has the potential to show efficacy in preclinical studies and subsequently move into more meaningful clinical trials to be tested as an effective treatment for Parkinson's Disease. If such potential for KLS-13019 were to be realized, we believe it would have a significant impact on the value of the Company’s investment portfolio given its large ownership stake in Kannalife's parent company, Neuropathix. Accordingly, we're very excited that the grant funding will provide Kannalife with the ability to conduct Parkinson's research using KLS-13019."