SAN DIEGO, March 19, 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") (OTCQB: KLFE) has been issued Australian Patent AU2015204609B2 (the "Patent") specific to "Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy." With this Patent, Kannalife now holds seven patents across the globe.
"Medical Marijuana, Inc. and our portfolio of companies such as Kannalife are committed to widening knowledge and acceptance of cannabis and cannabinoid-related studies around the world," said Dr. Stuart Titus, CEO of Medical Marijuana, Inc. "Kannalife is pushing forward that goal with new patents in six countries."
KLS-13019 leads Kannalife's intellectual property estate of novel, monotherapeutic molecules ("KLS Family"), which are capable of acting as neuroprotective agents and have the potential to treat a range of diseases, including nervous system, oxidative stress, and neurodegenerative disorders.
"With this Patent, we are honored that so many jurisdictions have recognized our IP estate as novel and proprietary," said Dean Petkanas, CEO of Kannalife. "We see this as an important step towards commercializing our lead drug candidate KLS-13019 in several markets in the future, including the Australian pharmaceutical market, which is expected to reach $32.1 billion in 2020 alone."
Of the seven patents issued to Kannalife on this technology, two are U.S. patents and five are foreign patents claiming priority to Kannalife's original 2014 U.S. filing date through international application PCT/US2015/010827, which was published as WO2015/106108A2 titled, "Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy" (the "PCT Patent").
Additionally, Kannalife has national phase patent applications based on the PCT Patent application pending in Canada, Brazil and India.
KLS-13019 is Kannalife's leading proprietary, investigational, novel, monotherapeutic 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. It's safety and efficacy have not been confirmed by FDA-approved research.
About Kannalife, Inc.
Kannalife, Inc. is a biopharmaceutical med-chem company focused on the development of proprietary and patented novel monotherapeutic 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 KLS 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.
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 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. The company's flagship product Real Scientific Hemp Oil has been used in several successful clinical studies throughout Mexico and Brazil to understand its safety and efficacy.
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.
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.
Investor Relations Contact:
P. (858) 283-4016
View original content:http://www.prnewswire.com/news-releases/medical-marijuana-inc-portfolio-investment-company-kannalife-inc-receives-patent-in-australia-for-its-novel-monotherapeutic-compounds-to-treat-cns-and-pns-disorders-301026689.html
SOURCE Medical Marijuana, Inc.