Medical Marijuana, Inc. Investment Company AXIM® Biotechnologies Files Patent for World’s First Face Mask Designed to Capture SARS-CoV-2 (COVID-19)

Rhea-AI Summary

Medical Marijuana, Inc. (OTC: MJNA) announces that its investment partner AXIM® Biotechnologies has filed a provisional patent for a revolutionary face mask that captures and deactivates SARS-CoV-2. This innovation meets the surging demand for protective gear during the COVID-19 pandemic, with the market expected to reach $21.2 billion by 2026. The mask's proprietary reagents enhance protection by capturing the virus on contact, potentially overcoming limitations of traditional masks. AXIM is currently exploring regulatory pathways for U.S. and EU distribution.

Positive

• AXIM Biotechnologies has filed a provisional patent for a face mask that captures and deactivates SARS-CoV-2.
• The face mask addresses the growing demand due to COVID-19, with the market projected to reach $21.2 billion by 2026.
• The mask's design significantly enhances viral capture, improving safety compared to existing products.
• AXIM plans to license manufacturers for large-scale production, potentially increasing revenue opportunities.

Negative

• None.

SAN DIEGO, Oct. 06, 2020 (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 chain, announced today that its investment company AXIM® Biotechnologies, Inc. (OTCQB: AXIM) (“AXIM® Biotech” or “AXIM”) has filed a provisional patent for the first-ever face mask that captures and deactivates SARS-CoV-2, the coronavirus responsible for the ongoing COVID-19 pandemic.

“Due to the COVID-19 pandemic, the demand for face masks has grown exponentially and is expected to reach $21.2 billion by 2026 as the scientific data continues to support their ability to lessen risk of infection. AXIM’s face mask has a place in almost every setting and could be revolutionary in helping the world achieve its goal of slowing the spread of COVID-19 both in healthcare and everyday circumstances,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “We are proud to support an investment company innovating such creative and necessary solutions as we all fight this pandemic together.”

Most commercially available masks are unable to efficiently filter the tiny aerosols that contain the virus. Viruses that are attached to the filtering materials can penetrate through a moist mask and, thus, increase the risk of infection. Noting this major issue, AXIM designed its novel face mask to provide enhanced protection from infection by capturing viruses in the face mask filter layer before they reach or after they exit the user's respiratory system.

To accomplish the goal of capturing SARS-CoV-2 on the face mask, AXIM utilizes a proprietary set of reagents that are permanently embedded into the mask filter and capture the virus instantaneously on contact. AXIM’s initial laboratory testing has demonstrated that the SARS-CoV-2 spike protein tightly binds to the capture reagents finely interspersed throughout its face mask fibers, therefore significantly increasing the mask’s ability to effectively capture the virus when compared to commercially available masks.

“SARS-CoV-2 viruses are significantly smaller than the fibers within commercially available masks and so, inevitably, at least some end up passing through the mask. By coating the filtration layers of our face masks with our proprietary reagents, which SARS-CoV-2 binds to, we can ‘capture’ the virus in the masks to provide enhanced protection and lower the rate of COVID-19 infection,” said AXIM® Biotech CEO John W. Huemoeller II.

Currently, AXIM is examining the regulatory pathways necessary to obtain approval to distribute the face mask in the U.S., either through the Food and Drug Administration (FDA) or the Environmental Protection Agency (EPA), and in the European Union. AXIM plans to license face mask manufacturers to handle large-scale production and distribution of the face mask while manufacturing the preparatory reagent ingredients in its own laboratory. 

To learn more about AXIM’s COVID-19-related research, please visit https://aximbiotech.com/.

About AXIM® Biotechnologies
Founded in 2014, AXIM® Biotechnologies, Inc. (AXIM) is a vertically integrated research and development company focused on changing diagnosis and treatment for oncology and SARS-CoV-2 (COVID-19). AXIM’s COVID-19 rapid neutralizing antibody test is the first rapid diagnostic test measuring levels of functional neutralizing antibodies that are believed to prevent SARS-CoV-2 from entering the host cells. Additionally, the Company is developing rapid diagnostic tests for the early detection of cancer and proprietary small molecules drugs to treat cancer and block metastasis. For more information, please visit www.AXIMBiotech.com.

About Medical Marijuana, Inc.
We are a company of firsts®. Medical Marijuana, Inc. (MJNA) is a cannabis company with three distinct business units in the non-psychoactive cannabinoid space: a global portfolio of cannabinoid-based nutraceutical brands led by Kannaway® and HempMeds®; a pioneer in sourcing the highest-quality legal non-psychoactive cannabis products derived from industrial hemp; and a cannabinoid-based clinical research and botanical drug development sector led by its pharmaceutical investment companies and partners including AXIM® Biotechnologies, Inc. and Kannalife, Inc. Medical Marijuana, Inc. was named a top CBD producer by CNBC. 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 the development of international markets. The company's flagship product Real Scientific Hemp Oil has been used in several successful clinical studies throughout Mexico and Brazil to understand its safety and efficacy.

Medical Marijuana, Inc.'s headquarters is in San Diego, California, and additional information is available at OTCMarkets.com or by visiting www.medicalmarijuanainc.com. To see Medical Marijuana, Inc.'s corporate video, click here.

Shareholders and consumers are also encouraged to buy CBD oil and other products at Medical Marijuana, Inc.'s shop.

FORWARD-LOOKING 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 those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such 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 be materially different 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 any products that are in violation of the United States Controlled Substances Act.

CONTACT:
Public Relations Contact:
Andrew Hard
Chief Executive Officer
CMW Media
P. 858-264-6600
andrew.hard@cmwmedia.com
www.cmwmedia.com

Investor Relations Contact:
P. (858) 283-4016
Investors@medicalmarijuanainc.com

FAQ

What did Medical Marijuana, Inc. announce on October 6, 2020 regarding MJNA?

On October 6, 2020, Medical Marijuana, Inc. announced that its investment partner AXIM filed a provisional patent for a face mask that captures and deactivates SARS-CoV-2.

What is the expected market growth for face masks according to MJNA's press release?

The market for face masks is expected to reach $21.2 billion by 2026, as highlighted in the press release from Medical Marijuana, Inc.

How does AXIM's face mask improve protection against COVID-19?

AXIM's face mask uses proprietary reagents to capture SARS-CoV-2 instantly on contact, which enhances protection compared to traditional masks.

What are the next steps for AXIM regarding the new face mask?

AXIM is currently evaluating regulatory pathways for distributing the face mask in the U.S. through the FDA or EPA and plans to license manufacturing partners for production.