NEW YORK, Oct. 26, 2016 (GLOBE NEWSWIRE) -- AXIM® Biotechnologies, Inc. (AXIM® Biotech) (OTC:AXIM), a world leader in cannabinoid research and development, today announced that the Company has secured private funding to continue its pharmaceutical clinical trials program in cannabinoid research and development for multiple indications.
The Company’s most recent financing enables it to continue in the research and development of innovative pharmaceutical delivery systems and API’ (active pharmaceutical ingredients) for treatment of conditions for which there is currently no effective remedy. These indications currently include: pain and spasticity in multiple sclerosis (MS), Parkinson’s disease, Alzheimer’s disease/dementia, attention deficit hyper activity disorder (ADHD), psychosis, post-traumatic stress disorder (PTSD), autism, restless leg syndrome, glaucoma, inflammatory bowel disease, irritable bowel syndrome, Crohn’s disease, psoriasis and atopic dermatitis (eczema).
“This financing provides us with the opportunity to boldly continue our efforts in the extremely promising and intricate space of cannabinoid-based therapeutics,” said AXIM® Biotechnologies, Inc.’s Chief Executive Officer George E. Anastassov, MD, DDS, MBA. “We’re pleased that our investors have the full trust that we do in our executive team and advisory board, which is composed of visionaries and world leaders with proven track records in the multiple indications our company is developing products for.”
An AXIM® Biotech breakthrough invention on pace to be fully registered by the EMA and FDA by the end of 2018 is the world’s first patented cannabinoid controlled-release chewing gum: MedChew Rx™. Recently featured by Reuters global news agency, MedChew Rx™ will change the way that medicine is delivered to patients worldwide. Directly compared to a sublingually delivered cannabis-based product currently on the market for multiple sclerosis (MS) in the Reuters article, the potential economic impact for MedChew Rx™ is estimated at $4.8 billion USD – for spasticity and pain associated with MS.
Axim will be conducting a clinical trial on MedChew Rx™ at the Free University of Amsterdam, The Netherlands in collaboration with the University of Plymouth, UK as well as an academic center in the USA for a novel, patented delivery form of cannabinoids for the treatment of chronic pain and spasticity in patients with multiple sclerosis. The anticipated duration of the trials prior to FDA/ EMA registration is approximately 12 months.
AXIM’s pipeline of intellectual property (IP) protected cannabinoid-based products include:
- MedChew Rx™ - THC/CBD cannabinoid controlled-release functional chewing gum to address pain and muscle spasticity in multiple sclerosis (MS) patients as well as numerous indication extensions based on the proprietary delivery platform
- RENECANN™ - the world’s first cannabigerol (CBG)-based skincare product line
- ORAXIMAX™ - the world’s first CBG-based oral care product line
- Suppocann™ - a suppository cannabinoid-release product for GI conditions such as IBD, IBS and Crohn’s disease
- Ophthocann™ and Cannbleph™ - cannabinoid-based products for reduction of intraocular pressure and for relief of conjunctivitis
AXIM® Biotechnologies, Inc. (OTC:AXIM) is an innovative biotechnology Company focusing on research, development and production of pharmaceutical, nutraceutical and cosmetic products where we prioritize the well-being of our customers while embracing a solid fiscal strategy. For more information, visit the Company website at www.AXIMBiotech.com.
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 Axim Biotechnologies, Inc. to be materially different from the statements made herein.
AXIM® Biotechnologies does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA).
Source:AXIM Biotechnologies, Inc