Kannalife, Inc. Adds to Its Global IP Estate Receiving Patent Grant from Canada for Its Novel Anti-Inflammatory Compounds
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DOYLESTOWN, Pa., Oct. 06, 2020 (GLOBE NEWSWIRE) -- Kannalife, Inc. (“Kannalife” or the “Company”) (OTCQB: KLFE), a biopharmaceutical and medchem company specializing in the research and development of potent novel monotherapeutics, announced today that the Company has been issued Canadian Patent CA2936506A1 specific to its patent known as WO2015/106108A2 titled, “Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy” (the “PCT Patent”).
Under the PCT Patent, Kannalife’s novel therapeutic compounds have the potential to target diseases that include neuropathic pain, traumatic head injury, stroke, Chronic Traumatic Encephalopathy (CTE), Post Cardiac Arrest Hypoxic Ischemic Encephalopathy, Epileptic Encephalopathy, and neurodegenerative diseases such as Parkinson's disease, Alzheimer's, Huntington's disease, and amyotrophic lateral sclerosis (ALS).
With the addition of Canada, Kannalife now has seven prominent pharmaceutical jurisdictions that include the U.S., European Union (16 countries), Australia, Japan, Russia, and China, with Brazil and India currently pending.
The global market for prescription drug sales are expected to see a compound annual growth rate of almost 7% from 2019 to 2024.1 According to the government of Canada, pharmaceutical sales have a 2.0 percent share of the global market, making Canada the 10th largest market in the world.2 The Canadian pharmaceuticals market is set to grow from $22.6 billion in 2016 to around $25 billion by 2021.3
“Ten years ago, we set out to find the pharmaceutical application of cannabidiol (CBD) and quickly learned that CBD had significant limitations, especially in first-line therapy for a variety of diseases and disorders. We set out to make it better by developing, testing and patenting a new platform of novel monotherapeutic agents focused on neuroinflammation, neurodegeneration and neuropathic pain. We found that our lead candidate, KLS-13019 has consistently beat CBD in pre-clinical evaluation and thus represents the potential for a significant differentiation of two compounds, KLS-13019 and CBD,” said Dean Petkanas, CEO of Kannalife.
KLS-13019 is the Company’s leading candidate to treat chemotherapy-induced peripheral neuropathy (CIPN), a disorder which currently has no FDA-approved drugs for treatment. Current off-label prescription of opioids, a leading agitator of overdose deaths and addiction, is the current model of treatment.
About Kannalife, Inc.
Kannalife, Inc. is a biopharmaceutical medchem company focused on the development of proprietary and patented novel, monotherapeutic molecules for patients suffering from unmet medical needs of neurodegenerative disorders - including chemotherapy-induced peripheral neuropathy (CIPN), a chronic neuropathy caused by toxic chemotherapeutic agents; hepatic encephalopathy (HE), a neurotoxic brain-liver disorder caused by excessive concentrations of ammonia and ethanol in the brain; mild traumatic brain injury (mTBI), a disorder associated with single and repetitive impact injuries; and chronic traumatic encephalopathy (CTE), a disease associated with highly repetitive impact injuries in professional and amateur sports.
Atopidine™ is Kannalife’s novel, patented small molecule that has been shown to have protective and anti-inflammatory properties in pre-clinical testing. The same studies show that it has also outperformed cannabidiol (CBD) in preventing inflammatory responses relevant to UVB-radiation, including cytokines, TNF-a, IL-1b, and IL-6.
KLS-13019 is Kannalife’s leading patented, investigational, novel, monotherapeutic product for the potential treatment of a range of neurodegenerative and neuropathic pain disorders, beginning with chemotherapy-induced peripheral neuropathy (CIPN). Neither KLS-13019 or Atopidine™ have been reviewed or approved for patient use by the U.S. Food and Drug Administration (FDA) or any other healthcare authority in the world. Their safety and efficacy have not been confirmed by FDA-approved research.
The Company's KLS Family of proprietary molecules focuses on treating oxidative stress-related diseases such as HE, chronic pain from neuropathies like CIPN, and neurodegenerative diseases like CTE. Kannalife conducts its research and development efforts at the Pennsylvania Biotechnology Center of Bucks County in Doylestown, PA.
Forward-Looking StatementsThis 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 press release contains statements about expected future events, the Company’s business plan, plan of operations, the viability of the Company’s drug candidates, and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements, by definition, involve risks and uncertainties. The Company does not sell or distribute any products that are in violation of the United States Controlled Substances Act.
- EvaluatePharma. World Preview 2019, Outlook to 2024https://www.evaluate.com/thought-leadership/pharma/evaluatepharma-world-preview-2019-outlook-2024#:~:text=Worldwide%20prescription%20drugs%20sales%20predicted,points%20in%20the%20industry's%20development.
- Government of Canada. Pharmaceutical Industry Profilehttps://www.ic.gc.ca/eic/site/lsg-pdsv.nsf/eng/h_hn01703.html
- PharmaExec. Total pharmaceutical market sales forecast in Europe from 2012 to 2022https://www.pharmexec.com/view/canadian-pharma-market-set-steady-growth-25-billion-2021
Public Relations:Andrew Hard, Chief Executive Officer of CMW MediaP: 888-829-0070E: [email protected]
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