Cannabinoid treatment may alleviate some symptoms of multiple sclerosis and IBS, in addition to chemotherapy-induced nausea.
AXIM Biotechnologies received $4 million in institutional funding to advance clinical trials for cannabis chewing gum for the treatment of irritable bowel syndrome (IBS) and pain and spasticity in multiple sclerosis (MS). The secured funds will also allow the company to continue its bioequivalency study.
The bioequivalency study seeks to develop the prototype chewing gum, MedChew Dronabinol, as an alternative to dronabinol (Marinol) for the treatment of chemotherapy-induced nausea and loss of appetite.
“This financing enables us to continue to build on the progress we have made with our cannabinoid clinical development program for indications where there are currently no effective treatments,” George Anastassov, MD, DDS, MBA, chief executive officer of AXIM, said in a press release. “It is encouraging to see that investors recognize the potential of our robust clinical development pipeline. We are now better positioned to execute on cannabinoid research and commercialization.”
MedChew RX is a THC/CBD controlled-release chewing gum, undergoing clinical research for the treatment of pain and spasticity in patients with MS. According to the press release, AXIM aims to capture part of the MS treatment marketplace.
CanChew Plus is a non-habit forming, hemp-derived CBD functional chewing gum that is available in all 50 states. This functional chewing gum has a higher active pharmaceutical ingredient of CBD, and is currently undergoing Phase 2 clinical trials for the treatment of IBS.
The 8-week randomized, double-blind, cross-over phase 2 trial began in early March 2017, and is comprised of 40 patients aged 18 to 65 years. Patients were randomized to receive a maximum of 6 chewing gums per day that contained either 50 mg of cannabidiol per chewing gum in case of the CanChew chewing gum, or a placebo chewing gum, according to a press release.
“Successfully enrolling patients in this IBS clinical trial, which marks the first advancement in cannabinoid research for treatment of IBS in medical history, is an exciting new milestone for AXIM’s clinical development program,” Dr Stuart Titus, CEO of Medical Marijuana, Inc, said in a release. “With the global treatment market for IBS estimated to grow in value to $1.5 billion by 2023, AXIM’s efforts continue to push forward with cutting-edge solutions to help people suffering from some of the most common gastrointestinal disorders, not only for IBS, but for irritable bowel disease and ulcerative colitis as well.”