DOYLESTOWN, Pa., March 03, 2020 (GLOBE NEWSWIRE) -- Kannalife, Inc. (“Kannalife” or the “Company”) (OTCQB: KLFE), a biopharmaceutical med-chem company specializing in the research and development of novel monotherapeutics, announced today that the European Patent Office has issued the Company, European Patent EP3094318B1 (the “Patent”) specific to “Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy.” This marks the sixth patent grant that Kannalife has received to date.
Under the Patent, Kannalife will 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).
In 2018, Europe was responsible for 23.2% of the world’s pharmaceutical sales1 with the size of the market in the EU-5 (United Kingdom, Germany, Spain, France, and Italy) set to grow by 25% between 2017-2022.2
“The European Union is prime for growth, with experts predicting the market will reach over $226 billion in total from pharmaceutical market sales,3” said Dean Petkanas, CEO of Kannalife. “We will continue to be strategic as we expand our intellectual property estate of novel monotherapeutic compounds to treat CNS and PNS disorders including chronic pain management and to the reduction to the use of opioids and gabapentinoids in this area.”
KLS-13019 leads Kannalife’s intellectual property estate of novel monotherapeutic molecules (“KLS Family”), which are capable of acting as neuroprotective agents and have the potential to treat a range of diseases, including nervous system, oxidative stress and neurodegenerative disorders.
Of the six patents issued to Kannalife on this technology, two are U.S. patents and four are foreign patents claiming priority to Kannalife’s original 2014 U.S. filing date through international application PCT/US2015/010827, which was published as WO2015/106108A2 titled "Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy” (the “PCT Patent”). The six patents consist of EP3094318B1 and the following five patents:
- U.S. Patent 9,611,213 "Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy"
- U.S. Patent 10,004,722 “Method for treating hepatic encephalopathy or a disease associated with free radical mediate stress and oxidative stress with novel functionalized 1,3-benzene diols”
- Japanese Patent JP6486950B2 "Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy"
- Russian Patent RU2676475C2 “Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy,” and
- Chinese Patent CN106456573B “Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy.”
Kannalife has also filed national phase patent applications based on the PCT application in Australia, Canada, Brazil and India. The Australian application has been approved for patenting while the other three applications are still undergoing examination.
Furthermore, the Company recently completed a phase 1 study funded by a grant from the National Institutes of Health’s National Institute on Drug Abuse. The study was performed in an animal model to evaluate the potential use of KLS-13019 as a potent, non-opioid alternative monotherapeutic in the prevention and reversal of chemotherapy-induced peripheral neuropathy (CIPN).
About KLS-13019
KLS-13019 is Kannalife’s leading proprietary, investigational, novel, monotherapeutic product for the potential treatment of a range of neurodegenerative and neuropathic pain disorders, beginning with chemotherapy-induced peripheral neuropathy (CIPN). KLS-13019 has not been reviewed or approved for patient use by the U.S. Food and Drug Administration (FDA) or any other healthcare authority in the world. It’s safety and efficacy have not been confirmed by FDA-approved research.
About Kannalife, Inc.
Kannalife, Inc. is a biopharmaceutical med-chem company focused on the development of proprietary and patented novel, monotherapeutic molecules for patients suffering from 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 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.
Forward-Looking Statements
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.
References
- European Federation of Pharmaceutical Industries and Associations. The Pharmaceutical Industry in Figures
https://www.efpia.eu/media/413006/the-pharmaceutical-industry-in-figures.pdf - Evaluate. European Pharma Market Outlook to 2022
https://info.evaluategroup.com/rs/607-YGS-364/images/Evaluate-European-Drug-Forecasts-Infographic-IG.pdf - Statista. Total pharmaceutical market sales forecast in Europe from 2012 to 2022
https://www.statista.com/statistics/815165/pharmaceutical-market-sales-forecast/
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