Medical Marijuana, Inc. Subsidiary Kannaway® Announces Positive Preliminary Results of Validcare CBD Safety Study
Medical Marijuana, Inc. (MJNA) announced the positive preliminary results of a cannabidiol (CBD) Safety Study conducted by its subsidiary, Kannaway®. The study, completed on March 22, 2022, involved 1,061 participants and confirmed that daily CBD consumption does not cause elevated liver tests, low testosterone levels, or daytime drowsiness. The findings aim to encourage FDA regulation of CBD, potentially doubling the market size as larger retailers become more comfortable with CBD products. Results will be shared with the FDA on May 20, 2022.
- Preliminary CBD Safety Study results are overwhelmingly positive, confirming safety.
- Study included 1,061 participants from 17 CBD companies, ensuring broad data representation.
- Findings may drive FDA regulation, which could double the addressable market size.
- None.
SAN DIEGO, CA, May 18, 2022 (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 subsidiary Kannaway® has participated in the industry-led cannabidiol (CBD) Safety Study and that its preliminary results, released this week, are overwhelmingly positive for the safety profile of CBD. The study abstract can be viewed here.
Validcare acted as CRO for the study, which was completed on March 22, 2022, and involved 1,061 U.S. participants and 17 CBD companies, including Kannaway®. All product companies supplied certificates of analysis (COAs) which were confirmed by third-party labs to ensure product label accuracy.
These new results will provide the FDA with the data needed to address its safety concerns regarding CBD. Specifically, the results highlight that daily consumption across a range of retail products and serving sizes is not associated with elevated liver tests, low testosterone levels, or daytime drowsiness.
“We hope that these results, paired with the results from the first cohort of the study, will persuade the FDA to take steps to regulate CBD,” said Blake Schroeder, CEO of Medical Marijuana, Inc. and Kannaway®. “If this were to happen, we could expect the addressable market size to double from present levels as more large chain retailers become more comfortable with the sales of these CBD products upon their shelves and fewer consumers feel hesitant about trying CBD.”
Further comments from the Hemp Roundtable and other participating companies can be found here. The results will be shared with the FDA on May 20, 2022.
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 Neuropathix. 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.
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:
Kathryn Brown
Account Director
CMW Media
P. 858-264-6600
kathryn@cmwmedia.com
www.cmwmedia.com
Investor Relations Contact:
P. (858) 283-4016
Investors@medicalmarijuanainc.com
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