SAN DIEGO, Aug. 20, 2014 (GLOBE NEWSWIRE) -- From the US to Turkey, the world is "buzzing" with the news that the National Institutes of Health, a U.S. Government Agency division of the Department of Health and Human Services, has approved KannaLife's drug discovery plan for using cannabis as the source for a new drug that will treat a concussion syndrome called Chronic Traumatic Encephalopathy or "CTE."
Medical Marijuana, Inc. (OTC Pink: MJNA) is proud to announce that one of its investment portfolio companies, KannaLife Sciences, Inc. ("KannaLife"), is the subject of this tremendous amount of mainstream news coverage. MJNA directly owns 16.70% of KannaLife's capital stock.
KannaLife co-founder Thoma Kikis stated in a recent interview, "On the FDA drug pipeline, we are focused on treating diseases that affect the brain." Kikis went on to explain that "CTE is a concussion-induced disease with long-term effects mostly suffered by football, hockey, soccer players and boxers."
CTE is defined by Boston University as: "A progressive degenerative disease of the brain found in athletes (and others) with a history of repetitive brain trauma, including symptomatic concussions as well as asymptomatic subconcussive hits to the head."
KannaLife is leading the industry by tackling major issues that plague professional sports and other athletes including the NFL's mission to protect former and current players from CTE. Global coverage of KannaLife includes:
The U.S. Department of Health and Human Services holds Patent #6,630,507, "Cannabinoids as Antioxidants and Neuroprotectants." KannaLife Sciences is involved in the research and development of therapeutic agents designed to reduce oxidative stress and act as immuno-modulators and neuroprotectants and currently holds an exclusive license agreement with the National Institutes of Health – Office of Technology Transfer (NIH-OTT) for the commercialization of U.S. Patent #6,630,507, "Cannabinoids as Antioxidants and Neuroprotectants" (the "'507 Patent").
The CTE development license agreement is in effect through February 2021 and marks the second time that the National Institutes of Health (NIH) has awarded KannaLife a license agreement. The first was in June 2012, with an exclusive license from NIH through the same US Patent 6,630,507, for the development of a target drug candidate for treating Hepatic Encephalopathy (HE).
In response to the extensive media coverage surrounding KannaLife's new license agreement with NIH, Dean Petkanas, its Chairman and CEO, released the following statement:
"We feel that there is a confluence of social issues being addressed through our efforts to produce target drug candidates for HE and CTE using cannabinoid-based therapeutics," says Petkanas. "No doubt, given the massive public and political sea change of perception regarding cannabis during the past five years, this has formed a new paradigm shift in America regarding medical marijuana. Ironically, at the same time, taxpayer-backed and government-sponsored science has finally made it clear to legacy bureaucrats and policy makers that cannabinoids have a medicinal purpose.
"As for KannaLife, we were founded on the idea of bringing forth high-quality, plant-derived medication using cannabinoid-based therapeutic agents," Petkanas continues. "Accordingly, we're blessed to have dedicated partners at MJNA as well as a dedicated team of scientific professionals that share in the vision of helping people and working toward solutions to save lives. Clearly cannabis has medicinal value, whether it's in North America or North Africa.
"Here in the U.S.," Petkanas adds, "given the importance of iconic brands in full-contact sports like the NFL, and the trickle down effect from college down to Pop Warner football, we believe, not unlike the call to Congress, it is high time for the NFL and other major American and international sports leagues to finally end their irreverent, irresponsible and dogmatic views toward cannabis. A good start is to sit at the table and begin responsible, solution-oriented thinking regarding the therapeutic uses of cannabinoid-based medicines."
Petkanas will be featured on the U-T San Diego's Community Spotlight radio show Friday, Sept. 5, from 10:00 a.m. to 10:30 a.m. PT. To submit questions you would like to have addressed during the interview, contact Andrew Hard, Director of Public Relations for HempMeds. To listen live, visit: http://tunein.com/radio/UT-San-Diego-Community-Spotlight-p309524/.
"Medical Marijuana, Inc. is truly humbled and proud to watch the global news media react and cover the unfolding story of KannaLife's government license to develop an FDA-approved drug to treat CTE," states Michelle Sides, Chief Operating Officer of Medical Marijuana, Inc. "We are very grateful for this incredible opportunity to make a difference and, through this partnership, to provide groundbreaking options for those who could benefit around the world."
For additional information, visit www.KannaLife.com.
About Medical Marijuana Inc.
Our mission is to be the premier cannabis and hemp industry innovators, 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: www.MedicalMarijuanaInc.com.
About KannaLife Sciences, Inc.
KannaLife Sciences, Inc. ("KannaLife") is a late-stage biopharmaceutical and phyto-medical technology company. KannaLife was created to develop natural, phyto-medical products to be used in health and wellness regimens. KannaLife is currently conducting research and development of novel new therapeutic agents to be used as transport carriers for other compounds seeking to break the blood/brain barrier. KannaLife is also developing their own compounds to be used for the treatment and prevention of oxidative and neurotoxic stresses borne from a variety of ailments and illnesses. For more information, visit KannaLife.com.
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.
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.
Medical Marijuana Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA). The Company does grow, sell, and distribute hemp-based products and is involved with the federally legal distribution of medical marijuana-based products within certain international markets. Cannabidiol is a natural constituent of hemp oil.
Investor Relations Contact: Perry Coleman Medical Marijuana, Inc. P. 443-453-5088 firstname.lastname@example.org Toll Free: 888-OTC-MJNA (888-682-6562) Media relations contact: Andrew Hard Director of Public Relations P. 858-335-6563 email@example.com