SAN DIEGO, Dec. 10, 2019 /PRNewswire/ — Medical Marijuana, Inc. (the “Company”) (OTC: MJNA), 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), a biopharmaceutical company specializing in the research and development of cannabinoid therapeutics, officially commenced trading on the OTC Markets under the ticker symbol “KLFE.” Medical Marijuana, Inc. became Kannalife’s original investor in 2013 and currently owns approximately 26.17% common equity in the company.
“We are thrilled that investors and the public can now participate in funding Kannalife’s data-driven cannabinoid therapeutics R&D,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “According to analysts at Statista, the projected U.S. cannabinoid-based pharmaceutical market size is estimated to reach approximately $50 billion within the next 10 years. As an early investor in Kannalife, we believe that its ground-breaking research and portfolio of IP sets the Company apart and gives it a competitive advantage over other cannabinoid-based pharmaceutical companies.”
Kannalife has developed its own patented intellectual property estate of molecules led by KLS-13019, the Company’s novel cannabidiol (CBD)-like molecule to treat neurodegenerative, chronic pain management and oxidative stress-related diseases. The Company was recently awarded U.S. Patent #9611213, “Functionalized 1,3-benzene diols and their method of use for the treatment of hepatic encephalopathy” and U.S. Patent #10004722, “Method for treating hepatic encephalopathy or a disease associated with free radical mediate stress and oxidative stress with novel functionalized 1,3-benzene diols.”
Results from Kannalife’s pre-clinical research funded by a grant from the National Institute on Drug Abuse were also recently published in the Journal of Molecular Neuroscience (JOMN), describing in detail the siRNA knockdown and mechanism of action for both KLS-13019 and CBD in the potential treatment of chemotherapy-induced peripheral neuropathy (CIPN).
“For the past 10 years Kannalife has dedicated itself to the clinical development of novel cannabinoid therapeutics as ethical pharmaceuticals,” said Kannalife CEO Dean Petkanas. “Through our pioneering and responsible life sciences efforts, we embarked upon a scientific approach to advance the potential of CBD by creating a new class of patented CBD-like compounds that pre-clinical studies show are up to 200 times more potent, 10 times more bioavailable, five times safer and 1,000 times more effective (therapeutic index) than CBD. We look forward to the support of our current and new investors as we continue to further cannabinoid therapeutic research.”
To learn more about Medical Marijuana, Inc., visit
https://www.medicalmarijuanainc.com/.
To learn more about Kannalife, Inc., visit https://www.kannalife.com/.
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.
About Medical Marijuana, Inc.
We are a company of firsts®. 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® and HempMeds®; 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® 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.
FORWARD-LOOKING DISCLAIMER
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.
LEGAL DISCLOSURE
Medical Marijuana, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act.
CONTACT:
Public Relations Contact:
Andrew Hard
Chief Executive Officer
CMW Media
P. 858-264-6600
www.cmwmedia.com
Investor Relations Contact:
P. (858) 283-4016
Cision
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SOURCE Medical Marijuana, Inc.