SAN DIEGO, Feb. 26, 2016 (GLOBE NEWSWIRE) — Medical Marijuana, Inc. (OTC Pink:MJNA) is pleased to announce that the Company’s portfolio investment company, Kannalife Sciences, Inc. (“Kannalife”), has made global news headlines from a Reuters article covering Kannalife’s new cannabidiol (CBD)-like molecule KLS-13019. The Reuters article also discussed Kannalife’s plans to fund its continued research and move toward clinical trials on a treatment for hepatic encephalopathy (HE). The full article can be read online at: http://www.reuters.com/article/us-kannalife-ipo-idUSKCN0VY2N0.
“Kannalife is seeing an enormous opportunity with the development of KLS-13019. We believe that a successful clinical trial for Grade 3 hepatic encephalopathy (HE) patients could lead to several other applications for the compound. At Medical Marijuana, Inc., our sincere appreciation goes out to the scientists and researchers cited in the American Chemical Society’s ACS Medicinal Chemistry Letters that exhibited the science behind KLS-13019,” states Dr. Stuart W. Titus, Chief Executive Officer of Medical Marijuana, Inc.
Along with moving KLS-13019 toward clinical trials, Kannalife is preparing a Series B Offering, where the Company seeks to raise $5 million to $10 million. As reported by Reuters, Kannalife may explore a possible IPO in the near future. Via the proposed Series B Offering, Kannalife believes the funding will be sufficient for them to begin clinical trials in the first quarter of 2017.
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, visit: 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: www.MedicalMarijuanaInc.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.
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.
CONTACT: For further information, please contact: Public Relations contact: Andrew Hard Chief Executive Officer CMW Media P. 888-829-0070 [email protected] www.cmwmedia.com Corporate Contact: Medical Marijuana, Inc. Toll Free: 888-OTC-MJNA (888-682-6562) www.medicalmarijuanainc.com www.facebook.com/mjnainc