CannabisNews420.com – Cannabis/Marijuana Industry News
|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.
About Kannalife, Inc.
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.
For more information about Kannalife, Inc., visit www.kannalife.com and visit the company’s Twitter page at @Kannalife.
About Medical Marijuana, Inc.
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.
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