DOYLESTOWN, Pa., March 18, 2020 (GLOBE NEWSWIRE) -- Kannalife, Inc. (“Kannalife” or the “Company”) (OTCQB: KLFE), a biopharmaceutical med-chem company specializing in the research and development of potent novel monotherapeutics, announced today that the Company has been issued Australian Patent AU2015204609B2 (the “Patent”) specific to “Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy.” This patent grant marks the seventh patent that Kannalife has received to date on a worldwide basis.
Under the Patent, Kannalife will further explore the application and potential of new molecular entities (NMEs) across epilepsy, 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).
Australia’s pharma market is expected to reach $32.1 billion in 2020, according to data from research and consulting firm GlobalData.1
"We are pleased to see our IP estate recognized in Australia as novel and proprietary. We see this as an important first step towards commercializing our lead drug candidate KLS-13019 in that market in the future," said Dean Petkanas, CEO of Kannalife.
KLS-13019 leads Kannalife’s intellectual property estate of novel, monotherapeutic molecules (“KLS Family”), which are capable of acting as neuroprotective agents and have the potential to treat a range of diseases, including nervous system, oxidative stress, and neurodegenerative disorders.
Of the seven patents issued to Kannalife on this technology, two are U.S. patents and five are foreign patents claiming priority to Kannalife’s original 2014 U.S. filing date through international application PCT/US2015/010827, which was published as WO2015/106108A2 titled, "Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy” (the “PCT Patent”). The seven patents consist of AU2015204609B2, and the following six patents:
- U.S. Patent 9,611,213 "Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy"
- U.S. Patent 10,004,722 “Method for treating hepatic encephalopathy or a disease associated with free radical mediate stress and oxidative stress with novel functionalized 1,3-benzene diols”
- Japanese Patent JP6486950B2 "Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy"
- Russian Patent RU2676475C2 “Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy”
- Chinese Patent CN106456573B “Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy,” and
- European Patent EP3094318B1 “Novel Functionalized 1,3-Benzene Diols and their Method of Use for the Treatment of Hepatic Encephalopathy.”
The Company recently completed a STTR phase 1 study funded by a grant from the National Institutes of Health’s National Institute on Drug Abuse. The study was performed in an animal model to evaluate the potential use of KLS-13019 as a potent, non-opioid alternative monotherapeutic in the prevention and reversal of chemotherapy-induced peripheral neuropathy (CIPN).
Kannalife also has national phase patent applications based on the PCT Patent application pending in Canada, Brazil and India.
KLS-13019 is Kannalife’s leading proprietary, investigational, novel, monotherapeutic product for the potential treatment of a range of neurodegenerative and neuropathic pain disorders, beginning with chemotherapy-induced peripheral neuropathy (CIPN). KLS-13019 has not been reviewed or approved for patient use by the U.S. Food and Drug Administration (FDA) or any other healthcare authority in the world. It’s safety and efficacy have not been confirmed by FDA-approved research.
About Kannalife, Inc.
Kannalife, Inc. is a biopharmaceutical med-chem 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.
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.
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 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.
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