NEW YORK, NY / ACCESSWIRE / November 20, 2019 / MMJ International Holdings, the premier medical cannabis research company, announced that it has signed an engagement agreement with MFS Capital Advisors to provide financial strategy services, and assist in the capital needs for the companies FDA approved drug development and clinical trials. MMJ International Holdings is developing an oral drug product from natural whole plant extract derivatives from the marijuana plant containing active ingredients from the cannabis plant. MMJ will be utilizing its new product for a FDA approved treatment of multiple sclerosis (MS) and Huntington's disease (HD). The Company is seeking to secure $20 million of capital.
"We welcome the engagement of MFS Capital Advisors. The initial response we have received from our potential investor partners is profoundly encouraging", stated Duane Boise CEO of MMJ International Holdings. MFS Capital Advisors has an extensive network and established relationships with family offices, private equity and venture capital firms, lenders, and debt investors. MFS Capital Advisors will assist MMJ International Holdings in accessing private capital markets for both debt and equity financing.
Misha Vasilchikov, managing director of MFS Capital advisors stated "As part of our hands-on approach, we will work closely with MMJ International Holdings to develop innovative solutions and find investors that can bring adequate capital, knowledge, network, and potentially management to the existing business". MFS Capital Advisors has a proven, step-by-step process that will ensure MMJ International Holdings succeeds in meeting its various financing needs in the development of its FDA cannabis drug for multiple sclerosis and Huntington's disease. Scott Schulte, the Founder of MFS Capital further stated, "Our objective with our investors is to set the standard in terms of professionalism and competency in order to remove as much risk from cannabis investing as possible. It is a mission that will remain paramount to us as we engage our private and public investor base." MMJ International Holdings anticipates an FDA approval for its drug.
MMJ International Holdings most recently received a Food and Drug Administration award for ″Orphan Drug Designation″ for its THC and CBD proprietary drug formulation which will be used for the treatment of Huntington's Disease. The drug, MMJ-002, is one of MMJ's lead drugs and the company is confident that it will bring much needed relief to patients suffering from the debilitating effects of Huntington's Disease.
Since 2015, MMJ International Holdings has been advancing the science of medical marijuana federally legal through development of patient clinical trials and research. This latest award of Orphan Drug Designation is in keeping with their mission to do everything possible to improve the lives of patients.
This MMJ Orphan Drug awarded by the FDA means that MMJ International Holdings has demonstrated its promise for the diagnosis and or treatment of rare diseases or conditions. Orphan designation qualifies MMJ International Holdings for various development incentives provided by the Orphan Drug Award, including tax credits for qualified clinical testing.
As stated by MMJ International's VP of Research and Developement, Elio Mariani, ″MMJ's Orphan Drug award is another milestone that the company has met as we continue to set industry standards. MMJ has established a leading position in the development of plant-derived cannabinoid therapeutics through its proven drug discovery and development processes, intellectual property portfolio as well as regulatory and manufacturing expertise.″
Contact: Michael Sharpe
SOURCE: MMJ International Holdings
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