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Medical Marijuana, Inc. Provides Update on its Pharmaceutical Initiatives


SAN DIEGO, Calif., April 07, 2022 (GLOBE NEWSWIRE) — via NewMediaWire Medical Marijuana, Inc. (OTC: MJNA) (the “Company”), the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands and supply chains, is pleased to provide a company update on its pharmaceutical investments targeting new therapies for unmet medical needs in major rare disease markets.

“As the ‘Company of Firsts, Medical Marijuana, Inc. has been widely recognized as a pioneer in the supplement market with its high quality cannabidiol (CBD) products, but we also want our supporters to know that we have worked hard to support our innovation-driven investments in the pharmaceutical industry,” said Medical Marijuana, Inc. CEO Blake Schroeder. “Our overarching goal is to bring wellness to people around the world. worldwide and to deliver significant value to our shareholders by focusing our efforts and investments on the nutraceutical and pharmaceutical applications of cannabis and its derivatives.”

Medical Marijuana, Inc.

Over the past five years, Medical Marijuana, Inc. has worked hard to connect and build meaningful relationships with healthcare professionals across Brazil and Mexico. In Brazil, CBD is currently only allowed for medical purposes with the authorization of the country’s National Health Surveillance Agency (Anvisa), and a doctor has only made one prescription. The Company is preparing the ground to apply for the registration of a drug in Brazil. Further updates of this initiative are expected in the latter part of this year and next year.

Investment firm Neuropathix is ​​gaining momentum for its pain program

Neuropathix (OTCQB: NPTX), a major investment by Medical Marijuana, Inc. and a socially responsible life sciences company for pain management, focuses on the treatment of neuropathic pain, a condition that nearly 16 million Americans suffer each year. Neuropathix’s wholly-owned subsidiary, Kannalife Sciences, Inc., received a $2.97 million grant from National Institutes of Health (NIH) HEAL Initiative for enabling IND studies and continuation of its clinical program for KLS-13019, its globally patented, a compound derived from cannabinoids. KLS-13019 is a lead drug candidate for the treatment of neuropathic pain and a potential alternative to opioids.

Neuropathix continues to make progress in preparing an IND dossier for the use of KLS-13019 in chemotherapy-induced peripheral neuropathy (CIPN). KLS-13019 showed evidence in preclinical animal studies on the prevention and reversal of neuropathic pain associated with chemotherapy. The next two major milestones in 2022 for Neuropathix will be the successful completion of the first stage of commercial scale-up and a drug discrimination study in animals.

Investment company AXIM Biotechnologies reaches important milestones in the diagnosis of dry eye disease

AXIM Biotechnologies (OTCQB: AXIM), another major investment by Medical Marijuana, Inc. and an international healthcare diagnostics company, has recently made notable progress in its Dry Eye Disease (DED) diagnostic program. DED is believed to affect approximately 6.8% of the US population.

AXIM has acquired two ophthalmic diagnostic laboratory tests that have already received FDA approval for commercial use and sale. These tests, designed to help ophthalmologists detect and quantify various biomarkers associated with external eye disorders, measure lactoferrin, a protein in tears that protects the ocular surface through its antimicrobial and anti-inflammatory properties, and immunoglobulin E (IgE), a key biomarker mainly associated with dry eye.

AXIM has also successfully developed a rapid quantitative tear test for MMP-9, an inflammatory biomarker of dry eye disease, for which the company will seek FDA approval. The test is a first of its kind as there are no other qualitative tear tests that measure levels of this biomarker in human patients.

In 2022, AXIM aims to conduct numerous field and clinical studies for its MMP-9 test and to commercialize its Lactoferrin and IgE tests. After completing the required studies, AXIM intends to submit its test application to the FDA.

To learn more about Medical Marijuana, Inc. and stay up to date with the accomplishments of its portfolio companies, please visit https://investors.medicalmarijuanainc.com/.

About Medical Marijuana, Inc.

We are a company of firsts®. Medical Marijuana, Inc. (MJNA) is a cannabis company with three distinct non-psychoactive cannabinoid business units: a global portfolio of cannabinoid-based nutraceutical brands led by Kannaway® and HempMeds®; a pioneer in providing the highest quality non-psychoactive legal cannabis products derived from industrial hemp; and a clinical research and development sector for cannabinoid-based botanical drugs led by its pharmaceutical investment companies and partners, including AXIM® Biotechnologies, Inc.. and Neuropathix. Medical Marijuana, Inc. was named one of the top CBD producers by CNBC in 2019. Medical Marijuana, Inc. was also the first company to receive historic import permits for CBD products from the governments of Brazil, Mexico, Argentina and Paraguay and is a leader in developing markets international. The company’s flagship product Genuine Scientific Hemp Oil has been used in several successful clinical studies in Mexico and Brazil to understand its safety and effectiveness.

Medical Marijuana, Inc. is headquartered in San Diego, CA and additional information is available at OTCMarkets.com or by visiting www.medicalmarijuanainc.com. To view the Medical Marijuana, Inc. corporate video, Click here.

PROSPECTIVE 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 these articles. This document contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. These 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 differ materially from the statements made herein.

FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE

These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure or prevent any disease.

LEGAL DISCLOSURE

Medical Marijuana, Inc. does not sell or distribute products that violate the US Controlled Substances Act.

CONTACT:

Public relations contact:
Katherine Brown
PR account manager
CMW Media
858-264-6600
[email protected]
www.cmwmedia.com

Contact with Investor Relations:
T. (858) 283-4016
[email protected]



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