SAN DIEGO, March 01, 2016 (GLOBE NEWSWIRE) -- Medical Marijuana, Inc. (OTC Pink:MJNA) is pleased to announce that the Company’s portfolio investment company, Kannalife Sciences, Inc. (“Kannalife”), was recently informed that it has received the necessary 2016 quota allotment from the U.S. Drug Enforcement Administration (“DEA”) to import high-purity, pharmaceutical-grade cannabidiol into the U.S.
Kannalife, a Phyto-Medical Company, also announced new details and progress on its feasibility study being performed by Catalent Pharma Solutions (“Catalent”). The focus of the feasibility study with Catalent is to develop a drug product formulation with suitable solubility and stability for Investigational New Drug application (“IND”) enabling pre-clinical studies in animals and clinical studies in humans. As part of Kannalife’s efforts to develop a cannabinoid-derived therapeutic agent for the treatment of two neurodegenerative diseases, hepatic encephalopathy (“HE”) and chronic traumatic encephalopathy (“CTE”), the feasibility study with Catalent will pave the way for the additional pre-clinical studies needed before the company files its IND with the U.S. Food and Drug Administration (“FDA”).
“Kannalife is making impressive strides forward in their research for a potential cannabinoid-based treatment for hepatic encephalopathy (HE) and chronic traumatic encephalopathy (CTE). We applaud their entire team for their hard work and dedication in their efforts to bring novel cannabinoid-based therapies into the life sciences arena. Catalent is a proven global leader in bringing the highest-quality pharmaceutical products to market and we are excited for what’s to come,” states Dr. Stuart W. Titus, Chief Executive Officer of Medical Marijuana, Inc.
Kannalife currently holds two licenses from the National Institutes of Health for U.S. Patent 6,630,507 “Cannabinoids as Antioxidants and Neuroprotectants.” These licenses are currently in use by Kannalife to develop proprietary therapeutic drugs to treat chronic traumatic encephalopathy (CTE) and hepatic encephalopathy (HE): http://www.google.com/patents/US6630507.
About Kannalife Sciences, Inc.
Kannalife Sciences, Inc. is a phyto-medical company involved in the research and development of novel therapeutic agents designed to be neuroprotectants and immuno-modulators. Kannalife is currently conducting research and development at the Pennsylvania Biotechnology Center in Doylestown, PA, for target drug candidates to treat Hepatic Encephalopathy ("HE") and Chronic Traumatic Encephalopathy ("CTE"). HE and CTE are oxidative stress related diseases that affect cognitive and behavioral functions. For more information, please visit the company’s website at: www.Kannalife.com.
About Medical Marijuana Inc.
The mission of Medical Marijuana, Inc. (OTC Pink:MJNA) is to be the premier cannabis and hemp industry innovator, 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. For more information, please visit the company's website at:
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease.
FORWARD-LOOKING DISCLAIMER
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.
LEGAL DISCLOSURE
Medical Marijuana Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA). These companies do grow, sell, and distribute hemp-based products and are involved with the federally legal distribution of medical marijuana-based products within certain international markets. Cannabidiol is a natural constituent of hemp oil.
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