National News Coverage for KannaLife Sciences, Inc. an MJNA Portfolio Company
FDA Approved Cannabis-Based Drug Development Fuels Discussions Regarding NFL Players, Concussions, and CTE
SAN DIEGO, Dec. 2, 2014 (GLOBE NEWSWIRE) — News of a potential NFL lawsuit settlement and KannaLife Sciences, Inc. (“KannaLife”) license from National Institutes of Health — Office of Technology Transfer (“NIH-OTT”) to develop one or more cannabinoid based drugs to treat Chronic Traumatic Encephalopathy (CTE) has fueled national attention. In addition to the attention received by KannaLife and retired National Football League (“NFL”) star Marvin Washington, now a key advisory board member and CTE spokesperson for KannaLife, there remain big questions for the NFL regarding its policy on prescription pain killers and its exclusionary policy on medicinal cannabis for use by players to reduce pain.
NFL players are still facing long-term suspensions for testing positive for traces of marijuana. Oddly, at the center of another NFL controversy is the league’s policy of denial regarding repetitive concussive injury and a serious and related post traumatic syndrome called CTE. In July 2014, NIH-OTT licensed the use of the U.S. Patent 6,630,507 “Cannabinoids as Antioxidants and Neuroprotectants” (the ‘507 Patent”) to KannaLife for commercial development of a treatment for CTE.
Boston University defines CTE 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.”
Marvin Washington, has coined the phrase that, “Football in not a contact sport, it’s a collision sport”. He has been speaking regularly on behalf of the players of his era and the more than 4,500 retired NFL players, including himself, who are involved in a lawsuit against the NFL over the debilitating effects of concussions and CTE.
Marvin Washington now advocates that cannabinoids as neuroprotectants “make the game safer” and can protect professional, recreational and child athletes — all without any psychotropic effects or impact on performance. Working together with KannaLife, Marvin Washington is hopeful that therapeutic agents will be available in the near future and it is his desire to share “proof of concept” with the NFL in order for the league to “lead the science” for its current and former players.
Dean Petkanas, CEO of KannaLife Sciences, told Fox News‘ Dr. Manny during a recent exclusive Health Talk that his company, “… plans to file an investigational new drug application with the FDA in early 2015.”
Dozens of news outlets are joining the discussion and effectively increasing awareness of cannabis as a neuroprotectant with their viewers. In November alone, national media with questions for Washington and KannaLife Sciences executives on CBD included:
- CNN’s Headline News [NOW]: https://www.hlntv.com/video/2014/11/20/pot-nfl-treat-concussions
- Fusion TV: https://fusion.net/video/27252/kannalife-former-nfl-star-thinks-his-cbd-based-product-could-help-with-cte/#ooid=F0aXlvcTr_eqDwVnxNr5SplPIBg8W_5Q
- VICE: https://news.vice.com/article/the-nfls-anti-weed-policy-even-extends-to-drugs-that-could-prevent-brain-damage
- Fox News’ Health Talk with Dr. Manny:https://www.foxnews.com/health/2014/11/10/medical-marijuana-company-developing-drug-to-protect-nfl-players-brains/
- FoxNews.com: https://video.foxnews.com/v/3880868148001
The recently awarded license to KannaLife from NIH-OTT marks the second time that NIH-OTT has awarded KannaLife a license agreement. The first license received by KannaLife from NIH-OTT was in June 2012. The June 2012 license opportunity was an exclusive license for use of the ‘507 Patent , for the development of a target drug candidate for treating a brain / liver disorder known as Hepatic Encephalopathy (HE).
Michelle Sides, CEO of Medical Marijuana, Inc. (“MJNA”) stated, “KannaLife Sciences is performing meaningful, historic research and is a very important part of the Medical Marijuana, Inc. investment portfolio of companies. We’re very pleased that the national news media is paying attention as this important story develops.”
KannaLife Sciences is an investment portfolio company of Medical Marijuana, Inc. (OTC Pink:MJNA) and MJNA directly owns 16.70% of KannaLife’s capital stock.
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.
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