SAN DIEGO, Oct. 2, 2012 /PRNewswire/ -- Medical Marijuana, Inc. (OTC: MJNA), a leading hemp industry innovator and its CanChew Biotechnologies portfolio company are pleased to announce the planned introduction of their CanChew CBD chewing gum product line with a free market trial offer for patients suffering from MS Spasticity, Cancer Pain, and Neuropathic Pain. This market trial offer will begin October 15, 2012 and will be managed by CanChew Directors; Dr. George Anastassov, Dr. Philip A. Van Damme, and Production Specialist Lekhram Changoer, in cooperation with two U.S. healthcare industry associations: Patients Out of Time of Virginia and the American Cannabis Nurses Association of Oregon.
CanChew does not contain THC, therefore it does not contain any of the psychoactive properties which may impact the neurological balance of a patients mind, or the "high" feeling. Instead, its key active ingredient is a hemp-based, high concentrate CBD oil made available by Medical Marijuana, Inc.'s state-of-the-art extraction technology. Several ground breaking studies including those highlighted in the September 18, 2012 San Francisco Chronicle article, "Pot compound seen as tool against cancer" as well as at Project CBD, have shown that non-psychoactive CBD wellness products may provide powerful relief for pain and anxiety sufferers, but without the euphoric effects caused by THC. Please click here for more CDB studies: http://www.medicalmarijuanainc.com/index.php/research.
The CBD health and wellness industry is estimated by MJNA to be a $5 billion market. According to BCC Research and Market Forecasting, the global market for pain management pharmaceuticals and devices amounted to $19.1 billion in 2008 and is expected to increase to $32.8 billion in 2013. The compound annual growth rate (CAGR) for the 5-year period is projected at 11.5%.
Starting on October 15, 2012, prospective patients will be able to log into a dedicated website and answer questions on a health history survey to determine their eligibility for participation in the market trial, which will begin by November 15, 2012. Patients who qualify for the trial will receive a minimum one-month supply of the CBD chewing gum, which contains approximately 8-10 milligrams of CBD per piece and will be blister packed in packages of 8 and 32 pieces. Patients will provide specific feedback to the Company regarding usage and experience. While the company has been underway with clinical development for many months, it expects to launch human Clinical trials for this product and other CBD containing products by the end of 2013. CanChew Biotechnologies expects to launch over-the-counter retail sales of the product in early 2013.
"We're very excited about this new product and the potential it offers to people suffering from pain and many other ailments. While we originally targeted product sales for October of this year, we decided this interim market launch would provide us with valuable patient feedback and put us in a better position for our full blown national and international launch in early 2013," stated Ted Caligiuri, Interim President of Medical Marijuana, Inc.
About CanChew Biotech
CanChew® is a unique, socially acceptable, patient friendly, taste masked and convenient delivery format for delivery of cannabis/cannabinoid(s) based pharmaceuticals. The delivery of these medications via the oral mucosa provides for rapid and near complete absorption directly into the systemic circulation. This leads to rapid onset of effects and increased bioavailability. Pre-systemic metabolism is thus avoided. This system of delivery offers clearly improved economic opportunities compared to alternative drug delivery routes. For more information visit: http://www.canchewbiotech.com.
About Medical Marijuana, Inc.
Our mission is to be the premier hemp industry innovators, leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally friendly, economically sustainable businesses, while increasing shareholder value.
Medical Marijuana Inc. does not grow, sell or distribute any substances that violate United States Law or the controlled substance act.
For more information, please visit the company's website at: www.MedicalMarijuanaInc.com
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the Food and Drug Administration (FDA). These products and statements are not intended to diagnose, treat, cure, or prevent any disease.
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.
Investor Relations Contact:
Stuart T. Smith
SOURCE Medical Marijuana Inc.
SOURCE Medical Marijuana, Inc.