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Michael James Enterprises (MJTV) Acquires Sleep Disorder Therapeutic

Ryan Allway

August 9th, 2016

News, Top Story

Michael James Enterprises Inc. (OTC: MJTV) recently announced that it acquired the rights and intellectual property to develop and market therapeutics for sleep disorders using the cannabinoid dronabinol as the base ingredient.

In this article, we will take a closer look at dronabinol and the company’s plans to commercialize a dronabinol-based treatment for sleep disorders.

Dronabinol Sales Surpass $135M

Dronabinol is the generic form of AbbVie Inc.’s (NYSE: ABBV) Marinol® – a synthetic form of tetrahydrocannabinol (THC) that was approved by the FDA back in 1985 for nausea in cancer patients and weight gain in AIDS patients. While some Marinol® users reported a dose-related ‘high’, the drug was deemed to have a low potential for abuse by researchers and became one of the first cannabinoids approved by regulators.

Marinol® reached peak sales of $100 million in 2007 – its last year under patent protection – and generics were launched by Actavis and Par Pharmaceuticals Inc. (NYSE: PRX) by June 2008. According to IMS, dronabinol based drug sales reached over $135 million last year alone as generic forms of the drug expanded into new indications. The THC-like behavior of the drug means that it could be applicable in any number of different markets.

Michael James Enterprises aims to leverage Marinol’s® established safety profile to enter an indication where THC has been shown to be effective – sleep disorders.

Expanding into Sleep Disorders

More than half of adult Americans have reported symptoms of insomnia a few nights a week or more, according to the National Sleep Foundation. These symptoms can take a toll on productivity, mental health, and cardiac and endocrine system function, suggesting a strong need for effective treatment of this spectrum of disorders. Unfortunately, existing medications have significant adverse side effects ranging from dependence to behavior changes.

There is a growing body of research that suggests tetrahydrocannabinol (THC) may be effectively in treating sleep disorders. The endogenous cannabinoid anadamide, which acts on the same receptors as THC, has been shown to increase sleep through an adenosine pathway in the rate basal forebrain, while human studies measuring brain-wave activity has been shown to facilitate a relaxed state of alpha-dominated waves.

Recently, the University of Illinois-Chicago finished Phase IIB clinical trials evaluating dronabinol for the treatment of sleep apnea. The results are due to be published in the next few weeks, but Michael James Enterprises’ management team expects them to mark a major turning point for the potential expanded use of dronabinol to treat sleep disorders. The company plans to capitalize on these dynamics with its own formulation for sleep disorders.

Proprietary Formulation

Michael James Enterprises supplemented dronabinol with another active ingredient and conducted successful pre-clinical trials that showed promising results. After acquiring the rights to commercialize the technology, the company plans to advance is dronabinol treatment through clinical trials and commercialize treatments for various sleep disorders. The company also plans to work on additional formulations of dronabinol for other medical indications.

James Farinella, CEO of Michael James Enterprises stated in a recent press release, “I had originally planned to bring this product into MJTV but wanted to have the clinical 2B trials completed first. This was always expected to be the main business of MJTV. We will now keep the acne treatment system in the private company and advance the business and get it closer to commercialization before considering bringing it into the fold.”

Looking Ahead

Investors interested in cannabinoid-based treatments may want to consider Michael James Enterprises Inc. (OTC: MJTV) as an early-stage investment in the space. After securing the rights to dronabinol-based therapeutics for sleep disorders, the company has a significant opportunity to bring an effective sleep treatment to market and help more than half of the U.S. population that suffers from sleep insomnia and related conditions.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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