NEW YORK, Aug. 4, 2014 — Kannalife Sciences, Inc. (“Kannalife”) Signs New License Agreement With National Institutes of Health – Office of Technology Transfer (“NIH-OTT”) for the Commercialization of U.S. Patent 6,630,507, “Cannabinoids as Antioxidants and Neuroprotectants” (the “‘507 Patent”). This new license agreement provides the rights for the Company’s development and sale of cannabinoid(s) and cannabidiol(s) based therapeutics as antioxidants and neuroprotectants for use and delivery in humans, as FDA approved drugs, for the treatment of Chronic Traumatic Encephalopathy (CTE) in humans. The ‘507 Patent includes among other things, claims directed to a method of treating diseases caused by oxidative stress by administering a therapeutically effective amount of a non-psychoactive cannabinoid that has substantially no binding to the NMDA receptor. Cannabinoids are any of a group of related compounds that include the non-psychoactive Cannabidiol as well as Tetrahydrocannabinol; the active constituent of cannabis (marijuana).
Dean Petkanas, Founder and CEO of Kannalife Sciences, Inc. stated, “We are very pleased to have this opportunity to add an additional license through NIH-OTT under the ‘507 Patent’ for the furtherance of research and development of target therapeutics to treat head trauma and, more specifically Chronic Traumatic Encephalopathy (CTE). This disease has perplexed neurologists and the scientific community for well over two decades and recently caused U.S. District Court Judge Anita B. Brody to reject the preliminary approval of a $765 million settlement of NFL concussion claims, fearing it may not be enough to cover 20,000 retired players. We have committed ourselves towards researching and developing cannabinoid based therapeutics that can provide for preventative, curative and quality of life improvement for patients suffering with rare forms of encephalopathy. We can now focus our efforts on CTE alongside Hepatic Encephalopathy (HE) as our early pre-clinical work on HE is pointing towards advanced neuroprotection. We hope our early efforts on CTE will meet the same level of success as our on-going research and development regarding HE.”
Not unlike Hepatic Encephalopathy, CTE is a neuro-degenerative disease of the brain and is associated with repeated head traumas like concussions. CTE is a form of encephalopathy that is a progressive neuro-degenerative disease, which can only be definitively diagnosed postmortem, in individuals with a history of multiple concussions and other forms of head injury. CTE has been most commonly found in professional athletes participating in American football, ice hockey, professional wrestling and other contact sports who have experienced repetitive brain trauma. It has also been found in soldiers exposed to a blast or a concussive injury, in both cases resulting in characteristic degeneration of brain tissue and the accumulation of tau protein. Individuals with CTE may show symptoms of dementia, such as memory loss, aggression, confusion and depression, which generally appear years or many decades after the trauma.
About the NIH Office of Technology Transfer (NIH-OTT):
NIH-OTT manages the patenting and licensing of a wide range of inventions made by scientists working for the NIH, FDA and CDC intramural research programs as mandated by the Federal Technology Transfer Act.
Additional information about NIH-OTT can be found at http://www.ott.nih.gov.
About Kannalife Sciences, Inc.
Kannalife Sciences, Inc. is a late stage bio-pharmaceutical and phyto-medical company involved in the research and development of novel new therapeutic agents designed to reduce oxidative stress, and act as immuno-modulators and neuroprotectants.