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EQS-News: Medical Marijuana, Inc. Portfolio Investment Company Neuropathix Announces Grant Award for Parkinson's Research
EQS-News: Medical Marijuana, Inc. Portfolio Investment Company Neuropathix Announces Grant Award for Parkinson's Research.
About this update from Medical Marijuana, Inc.
[{"type":"text","content":"\n\n\n\n\t\n\n\n\n\n\n\n\n\n\nEQS-News: Medical Marijuana, Inc.\n\n\n / Key word(s): Financial\n\n\n\n\n\nMedical Marijuana, Inc. Portfolio Investment Company Neuropathix Announces Grant Award for Parkinson's Research 26.06.2024 / 15:05 CET/CEST\n\n\n\nThe issuer is solely responsible for the content of this announcement.\n\n SAN DIEGO, CA - (NewMediaWire) - June 26, 2024 - Medical\nMarijuana, Inc. (OTC:\nMJNA) (the \"Company\"), announced today that Kannalife\nSciences, Inc.\n(Kannalife\"), a wholly-owned subsidiary of the Company's portfolio\ninvestment company Neuropathix, Inc., a pioneering biotech company\nspecializing in the development of small molecule synthetic cannabinoid\ntherapeutics targeting inflammation, was awarded grant funding of $1.49 million\nfor its Parkinson’s research using its Cannabinoid Therapeutic KLS-13019. The\nCompany owns approximately 22% of Neuropathix.\n\nRead\nthe 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\n\nMedical\nMarijuana, Inc. Chairman and CEO, Tim Scott, commented on the news; \"We\nare one of Neuropathix’s largest shareholders and the securing of this grant to\nits wholly-owned subsidiary Kannalife is a very welcome development. We believe\nthat Kannalife's proprietary cannabinoid therapeutic KLS-13019 has the\npotential to show efficacy in preclinical studies and subsequently move into\nmore meaningful clinical trials to be tested as an effective treatment for\nParkinson's Disease. If such potential for KLS-13019 were to be realized, we\nbelieve it would have a significant impact on the value of the Company’s\ninvestment portfolio given its large ownership stake in Kannalife's parent\ncompany, Neuropathix. Accordingly, we're very excited that the grant funding\nwill provide Kannalife with the ability to conduct Parkinson's research using\nKLS-13019.\" \n\nABOUT\nMEDICAL MARIJUANA, INC.\n\nMedical\nMarijuana, Inc. (OTCMarkets: MJNA) manufactures and distributes natural health,\nbeauty and hemp-derived cannabidiol (CBD) products via e-commerce, direct\nsales, retail and wholesale distribution channels throughout the world. The\nCompany operates primarily through three divisions: Medical Marijuana, Inc.,\nHempMeds®, and Kannaway®.\n\nM...