This week, we saw two pieces of news related to cannabinoid R&D.
Medical Marijuana Inc
Medical Marijuana, Inc. (OTC: MJNA) subsidiary Kannaway has entered a strategic partnership with Endocanna Health, a research and development biotechnology company specializing in endocannabinoid DNA testing and personalization.
Under the terms of the agreement, Endocanna will manufacture its patent-pending Endocannabinoid DNA Test Kits and license its proprietary DNA technology to Kannaway. These Endocannabinoid DNA Kits, designed to provide consumers with personalized data about how CBD and other cannabinoids may interact with their body’s regulatory system, will be co-branded and sold exclusively through Kannaway's network of brand ambassadors.
Don’t miss out on the top cannabis stories of the day. Click here to sign up for our daily insider newsletter.
"This partnership with Endocanna Health gives us the opportunity to provide consumers with education on how CBD can best fit into their everyday lives and helps us better target our products to meet their needs," Medical Marijuana, Inc. CEO Stuart Titus told Benzinga. "We are excited about this partnership's growth potential with the eventual goal of creating personalized dietary supplement products to fit one's genetic typing and internal body chemistry."
AXIM Biotechnologies Inc. (OTC: AXIM), a company conducting cannabinoid research and development, launched its AXIM Wellness division that will be focused on bringing consumers premium cannabinoid-based nutraceutical products.
This new division will address the high demand for cannabinoid-based solutions worldwide through a series of patented nutraceutical products. AXIM will utilize its patent on CBD-based chewing gums to build out its nutraceutical gum line, including products targeted for migraines, athletes, smoking cessation and overall wellness. They will also focus on launching other oral care products later this year.
“By focusing resources on our nutraceutical product line, we will be able to bring to market new products, such as our gum lines, oral care products and topicals, in high consumer impact areas,” said John W. Huemoeller II, CEO of AXIM. “We aim to use the sales from this new wellness division to be able to self-fund many of our pharmaceutical research projects and bring additional shareholder value."
Benzinga's Cannabis Capital Conference heads to Detroit on Aug. 15 — click here to learn more!
Photo by Javier Hasse.
See more from Benzinga
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.