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KannaLife Sciences, Inc. Signs Research and Development Agreements With Advanced Neural Dynamics and IteraMed in the Discovery of Novel Neuroprotectants

NEW YORK, April 4, 2013 (GLOBE NEWSWIRE) -- KannaLife Sciences, Inc. ("KannaLife") announces its collaboration with two experienced drug discovery organizations: Advanced Neural Dynamics and IteraMed. KannaLife will fund a new drug discovery project related to a laboratory validated phytochemical. The founding science is based on the licensed technology of Dr. A. J. Hampson at the Laboratory of Cellular and Molecular Regulation within the National Institutes of Mental Health. Dr. Hampson's research has shown that this phytochemical is neuroprotective in cortical neuronal cultures exposed to toxic levels of glutamate or oxidative stress.

IteraMed and Advanced Neural Dynamics are located at the Pennsylvania Biotechnology Center. The Pennsylvania Biotechnology Center is a 112,000 square-foot biotechnology incubator in Doylestown, PA, houses one of the richest botanical collections in the world and is home to several and approximately thirty life sciences companies and several non-profit organizations. Dean Petkanas, CEO of KannaLife, stated: "This opportunity to begin our research and development program at the Pennsylvania Biotechnology Center, would not be possible without the support and financial backing of our investors, Medical Marijuana, Inc. and CannaVEST. The Pennsylvania Biotechnology Center has a scientifically rich environment in liver, neurological and botanical science, areas vital to KannaLife. Having this shared vision and support from MJNA and CannaVest is crucial to the long range research and development efforts planned between KannaLife, IteraMed and Advanced Neural Dynamics."

About Advanced Neural Dyanamics ("AND"): AND is a drug discovery company founded in October 2008 by Dr. Douglas Brenneman, an expert in the pharmacology of small molecules and neuropeptides. AND's focuses on developing novel small molecule neuroprotective therapeutics for the treatment of neurological diseases. AND's neuroprotective drug discovery strategy is differentiated by the use of primary neural cultures derived from the central nervous system combined with biochemical, molecular and immunocytochemical methods that measure cellular responses to identify products that will be safer and more effective than currently approved therapies.

About IteraMed: IteraMed draws on the experience of experienced medicinal and pharmacology scientists with experience in a variety of disease areas including central nervous system disorders (depression, anxiety, neuroprotection), neuropathic pain, cardiovascular disease, oncology, and infection. IteraMed offers "value added" organic synthesis, medicinal chemistry consulting, and internal drug discovery. IteraMed supports a variety of industries including forensics testing laboratories, start-ups, and large pharmaceutical companies. For more information, please visit the company's website at: www.iteramed.com

About KannaLife:

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. KannaLife Sciences currently holds an exclusive license 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"). For more information, please visit the company's website at: www.kannalife.com

About Medical Marijuana Inc. (OTC: MJNA):

MJNA's mission is to be the premier cannabis and hemp industry innovator, leveraging its team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. For more information, please visit the company's website at: www.medicalmarijuanainc.com

About CannaVest (OTC: CANV):

CannaVest is in the business of developing, producing, marketing and selling end consumer products containing the hemp based compounds with a focus on Cannabidiol (CBD). CannaVest seeks to take advantage of an emerging worldwide trend to re-energize the production of industrial hemp and to foster its many uses for consumer health and wellness benefits as well as in the pharmaceutical industry.

CONTACT: Dean Petkanas info@kannalife.com 516-669-3219

Source:KannaLife Sciences, Inc.