MJNA - Medical Marijuana Inc. Portfolio Investment Company Neuropathix Announces Grant Award for Parkinson's Research
SAN DIEGO, CA - (NewMediaWire) - June 26, 2024 - MedicalMarijuana, Inc. (OTC:MJNA) (the "Company"), announced today that KannalifeSciences, Inc.(Kannalife"), a wholly-owned subsidiary of the Company's portfolioinvestment company Neuropathix, Inc., a pioneering biotech companyspecializing in the development of small molecule synthetic cannabinoidtherapeutics targeting inflammation, was awarded grant funding of $1.49 millionfor its Parkinson’s research using its Cannabinoid Therapeutic KLS-13019. TheCompany owns approximately 22% of Neuropathix.
Readthe full Press Release here: https://www.globenewswire.com/news-release/2024/06/25/2903784/0/en/Kannalife-Secures-Funding-of-1-49-Million-from-The-Michael-J-Fox-Foundation-for-Parkinson-s-Research.html
MedicalMarijuana, Inc. Chairman and CEO, Tim Scott, commented on the news; "Weare one of Neuropathix’s largest shareholders and the securing of this grant toits wholly-owned subsidiary Kannalife is a very welcome development. We believethat Kannalife's proprietary cannabinoid therapeutic KLS-13019 has thepotential to show efficacy in preclinical studies and subsequently move intomore meaningful clinical trials to be tested as an effective treatment forParkinson's Disease. If such potential for KLS-13019 were to be realized, webelieve it would have a significant impact on the value of the Company’sinvestment portfolio given its large ownership stake in Kannalife's parentcompany, Neuropathix. Accordingly, we're very excited that the grant fundingwill provide Kannalife with the ability to conduct Parkinson's research usingKLS-13019."
ABOUTMEDICAL MARIJUANA, INC.
MedicalMarijuana, Inc. (OTCMarkets: MJNA) manufactures and distributes natural health,beauty and hemp-derived cannabidiol (CBD) products via e-commerce, directsales, retail and wholesale distribution channels throughout the world. TheCompany operates primarily through three divisions: Medical Marijuana, Inc.,HempMeds®, and Kannaway®.
MedicalMarijuana, Inc.
MedicalMarijuana, Inc. is the parent company of all operating divisions and operates awebsite to maintain an online presence, provide corporate, investor relationsand educational information and news relating to the Company and itsoperations.
HempMeds®
HempMeds® distributesCBD products directly in the US and through wholly owned subsidiariesinternationally (primarily in Mexico and Brazil). Distribution is accomplishedvia its online presence and its sales staff.
Kannaway®
Kannaway® isthe Company’s direct selling division which started in 2014 and was the firstCannabis based direct selling company. Kannaway is the Company’s largestdivision and sells the Company’s Natural Health and CBD products worldwide,including, but not limited to the US, Europe, and Asia.
FORWARD-LOOKINGDISCLAIMER:
This pressrelease may contain certain forward-looking statements and information, asdefined within the meaning of Section 27A of the Securities Act of 1933 andSection 21E of the Securities Exchange Act of 1934, and is subject to the SafeHarbor created by those sections. This material contains statements aboutexpected future events and/or financial results that are forward-looking innature and subject to risks and uncertainties. Such forward-looking statementsby definition involve risks, uncertainties and other factors, which may causethe actual results, performance or achievements of Medical Marijuana, Inc. tobe materially different from the statements made herein.
FOOD ANDDRUG ADMINISTRATION (FDA) DISCLOSURE:
Thesestatements have not been evaluated by the Food and Drug Administration. Thisproduct is not intended to diagnose, treat, cure, or prevent any disease.
LEGALDISCLOSURE:
MedicalMarijuana, Inc. does not sell or distribute any products that are in violationof the United States Controlled Substances Act or any state or federal law.
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