Medical Marijuana Inc (OTCMKTS:MJNA) a pioneering firm in the industry of industrial hemp announced that its joint venture associate CanChew Biotechnologies, LLC has been given the U.S. Patent for its ‘Chewing Gum composition’ containing Cannabinoids. The company had applied for patent in other nations too including Singapore, Australia, India, China, Japan, Europe, Mexico and Canada.
The details
In April 2012, the joint venture deal by Medical Marijuana and Sanammad Foundation resulted in company buying a 50% stake in the new firm and creation of CanChew Biotechnologies. In addition, the joint venture partner CanChew Biotechnologies formed a wholly-owned subsidiary firm known as CannaGum Marketing Group so as to support marketing and selling activities of CanChew(R) gum.
The accomplishment
Stuart Titus, the CEO said that achieving the world’s first patented CBD chewing gum is a significant achievement for the cannabis and industrial hemp industry. The management is delighted that after years of hard work, the team has managed to get a U.S. Patent for ‘Chewing Gum Compositions’ contaning Cannabinoids. For customers, chewing gum is accepted socially and the new product can be stated as a functional food with suitable delivery mechanisms for several ingredients.
The scope
The Nutritional Business Journal considers the global nutrition industry worth $300 billion. It covers everything starting right from dietary supplements, natural and organic foods and drinks, functional foods and drinks to natural and organic personal care and household products. The new product CanChew(R) is a patented, unique and award-winning CBD release chewing gum that is noticeably different from other available gum brands in the market. There is no need of prescription to buy the product. It is non-addictive and available in all states of the U.S.
In last trading session, the stock price of Medical Marijuana Inc (OTCMKTS:MJNA) declined more than 1% to close the trading session at $0.0789 on share volume of 1.4 million.
