Kannalife, Inc. Commences Trading on OTCQB Under Ticker Symbol “KLFE”
DOYLESTOWN, Pa., Dec. 09, 2019 (GLOBE NEWSWIRE) -- Kannalife, Inc. (“Kannalife” or the “Company”) (OTCQB: KLFE), a biopharmaceutical company specializing in the research and development of cannabinoid therapeutics, brings proven cannabinoid R&D to the public by officially commencing trading on the OTC Markets under the ticker symbol “KLFE.” The Company previously had a registration statement on Form S-1 go effective with the Securities and Exchange Commission on August 12, 2019, covering the secondary sale of securities by certain stockholders of the Company.
Kannalife has developed its own patented intellectual property estate of molecules led by KLS-13019, the company’s novel CBD-like molecule to treat neurodegenerative, chronic pain management and oxidative stress-related diseases. Kannalife has made significant improvements in the chemistry and efficacy of their new CBD-like molecules. The Company was recently awarded U.S. Patent #9611213, “Functionalized 1,3-benzene diols and their method of use for the treatment of hepatic encephalopathy” and U.S. Patent #10004722, “Method for treating hepatic encephalopathy or a disease associated with free radical mediate stress and oxidative stress with novel functionalized 1,3-benzene diols.”
“For the past 10 years Kannalife has dedicated itself to the clinical development of novel cannabinoid therapeutics as ethical pharmaceuticals. We started out by extensively researching the pharmaceutical potential of cannabidiol (CBD). But unlike many others who chose to take shortcuts and simply dump CBD into the market in an unregulated manner, we took the accountable route of understanding the pharmacokinetic and pharmacodynamic limitations of CBD,” said Dean Petkanas, CEO of Kannalife. “Through our pioneering and responsible life sciences efforts, we embarked upon a data driven, scientific approach to advance the potential of CBD. We did this by creating a new class of patented CBD-like compounds that pre-clinical studies show are up to 200 times more potent, 10 times more bioavailable, 5 times safer and 1,000 times more effective (therapeutic index) than CBD. We believe that these compounds will eventually be considered “CBD 2.0.” Pre-clinical studies have indicated that they may address some of generic CBD’s limitations but are also narrowly and specifically targeted with well understood mechanisms of action for neurodegeneration, chronic pain management and oxidative stress-related diseases.”
Results from Kannalife’s pre-clinical researchfunded by a grant from the National Institute on Drug Abuse were recently published in the Journal of Molecular Neuroscience (JOMN), describing in detail the siRNA knockdown and mechanism of action for both KLS-13019 and cannabidiol (CBD) in the potential treatment of chemotherapy-induced peripheral neuropathy (CIPN).
About Kannalife, Inc.
Kannalife, Inc. is a biopharmaceutical company focused on the development of proprietary and patented cannabidiol (CBD) and CBD-like 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 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.
For more information about Kannalife, Inc., visit www.kannalife.com and visit the Company’s Twitter page at @Kannalife.
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 press release contains statements about expected future events, the company’s business plan, plan of operations, the viability of the company’s drug candidates, and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements, by definition, involve risks and uncertainties. The company does not sell or distribute any products that are in violation of the United States Controlled Substances Act.
The statements made in this press release have not been evaluated by the Food and Drug Administration (FDA). These statements and the drug candidates of the company are not intended to diagnose, treat or cure any disease. The efficacy of these drug candidates have not been confirmed by FDA-approved research.
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