SAN DIEGO, March 5, 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 the European Patent Office has issued European Patent EP3094318B1 (the "Patent") specific to "Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy" to its portfolio investment company Kannalife, Inc. ("Kannalife") (OTCQB: KLFE). This is the sixth patent grant that Kannalife has received.
Kannalife will utilize the patent to further explore the application and potential of new molecular entities (NMEs) across epilepsy, neuropathic pain, traumatic head injury, stroke, Chronic Traumatic Encephalopathy (CTE), Post Cardiac Arrest Hypoxic Ischemic Encephalopathy, Epileptic Encephalopathy, and neurodegenerative diseases such as Parkinson's disease, Alzheimer's, Huntington's disease, and amyotrophic lateral sclerosis (ALS).
"With this patent, Kannalife has now expanded its robust intellectual property portfolio to include six patents and broadened its reach into the European Union," said Dr. Stuart Titus, CEO of Medical Marijuana, Inc. "Kannalife's research has the potential to make a global impact as their growing portfolio of international patents pushes forward their go-to-market strategy."
In 2018, Europe was responsible for 23.2% of the world's pharmaceutical sales with the size of the market in the EU-5 (United Kingdom, Germany, Spain, France, and Italy) set to grow by 25% between 2017 and 2022.
"We are very pleased to have received a notice of grant from the EU regarding our intellectual property revolving around our lead drug candidate KLS-13019. Europe is on the forefront of pharmaceutical development in the growing market for cannabinoid receptor target therapeutics which should bring further attention to our efforts in moving KLS-13019 forward for the treatment of neuropathic pain and other CNS disorders associated with neuroinflammation," said Dean Petkanas, CEO of Kannalife. "Experts project the European Union market alone to reach over $226 billion in total pharmaceutical sales."
Kannalife has also filed national phase patent applications in Australia, Canada, Brazil and India. The Australian application has been approved for patenting while the other three applications are still undergoing examination.
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 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.
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