Biotech Company Continues Research of Cannabis-based Pharmaceuticals
AXIM Biotech plans to conduct clinical trials of cannabis-based MedChew Rx in patients with multiple sclerosis.
AXIM Biotechnologies, Inc recently announced they have secured additional funding to further cannabinoid research and development for various disease states.
The company focuses on the development of pharmaceutical, neutraceutical, and cosmetic products involving cannabinoids. This new funding allows them to continue the research and development of pharmaceutical delivery systems and active pharmaceutical ingredients for multiple conditions that do not currently have optimal treatments, according to a press release.
They are currently investigating the use of cannabinoids to treat conditions such as, multiple sclerosis, Parkinson’s disease, Alzheimer’s disease, dementia, attention deficit hyper activity disorder, psychosis, post-traumatic stress disorder, autism, restless leg syndrome, glaucoma, inflammatory bowel disease, irritable bowel syndrome, Crohn’s disease, psoriasis, and atopic dermatitis.
A promising innovation they have created is MedChew Rx, which is the first cannabinoid controlled-release chewing gum for patients with multiple sclerosis. Compared with the current cannabis-based sublingually delivered product for multiple sclerosis, the economic impact for the chewing gum is approximately $4.8 billion in the United States alone, according to AXIM Biotech.
The medical use of cannabinoid-based pharmaceuticals has been shown to provide numerous benefits for patients, as well as drive down the cost of prescription drugs, a topic that has outraged many individuals recently.
Researchers will conduct clinical trials of MedChew Rx in Amsterdam and the United States to determine the safety and efficacy of the chewing gum for patients with multiple sclerosis who experience chronic pain and spasticity.
AXIM Biotech estimates that the clinical trials will span 12 months prior to registering with the FDA and the European Medicines Agency.
They are also developing multiple different treatments:
- RENECANN - a cannabigerol-based skin care line
- ORAXIMAS — a cannabigerol-based oral care product line
- Suppocann — a suppository cannabinoid-release product for gastrointestinal conditions
- Opthocann and Cannbleph — cannabinoid-based products to reduce intraocular pressure, and relief of conjunctivitis
“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."