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”) (OTC: KLFE),
| SAN DIEGO, Feb. 13, 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”) (OTC: KLFE), a biopharmaceutical company specializing in the research and development of cannabinoid therapeutics, has completed its phase 1 study funded by a grant (1R41DA044898-01) from the National Institutes of Health’s (NIH) National Institute on Drug Abuse (NIDA). The study was performed by Kannalife and the Lewis Katz School of Medicine at Temple University (LKSOM) to assess KLS-13019, Kannalife’s patented cannabidiol (CBD)-like molecule, as a potential treatment of neuropathic pain and drug dependence. “KLS-13019 continues to show potential as a much-needed treatment for CIPN,” said Dr. Stuart Titus, CEO of Medical Marijuana, Inc. “According to a recent study conducted by RRI, it is estimated that the total global neuropathic pain market will be worth more than $8.3 billion by 2024.” The pre-clinical grant study was performed in an animal model to evaluate the potential use of KLS-13019 as a potent, non-opioid alternative in the prevention and reversal of chemotherapy-induced peripheral neuropathy (CIPN). The animal model portion of the study was conducted by Sara Jane Ward, Ph.D., Assistant Professor of Pharmacology at LKSOM. “These recent study results suggest that Kannalife’s proprietary CBD-like molecule is at least as effective as CBD in preventing neuropathic pain in animal models. Even further, KLS-13019 goes a step further than CBD by showing the potential to reverse neuropathic pain,” said Dean Petkanas, CEO of Kannalife. “Kannalife looks to bring effective new treatment options to market as soon as possible and this research puts us one step closer to that goal.” The completed study could lead to a Phase 2 grant and further advances Kannalife’s belief that KLS-13019 could become a viable drug candidate, and an alternative to opioids, as a treatment for patients suffering from CIPN and chronic pain management. The research reported in this press release was supported by the National Institute on Drug Abuse (NIDA) of the National Institutes of Health (NIH) in the amount of $299,916 under award number 1R41DA044898-01. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health. About KLS-13019 About Kannalife, Inc. 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. About Medical Marijuana, Inc. 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. FORWARD-LOOKING DISCLAIMER FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE LEGAL DISCLOSURE CONTACT: Investor Relations Contact:
SOURCE Medical Marijuana, Inc. | ||
Company Codes: OTC-PINK:MJNA, OTC-QB:MJNA |
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