AXIM Biotechnologies, Inc. (OTCQB: AXIM) is a biotechnology company that uses the non-psychoactive ingredients of marijuana to help treat ailments, such as anxiety, chronic pain, and more. Shares of the biotechnology company are down 21%, during early trading on Monday, October 31, 2016. AXIM Biotechnologies, Inc. has seen average daily volume of 44,257 shares over the past three months. However, nearly 638,550 shares or dollar volume of $1,768,783, has already exchanged hands through early trading Monday.
Shares of AXIM Biotechnologies, Inc. are diving Monday, after the company announced it is moving forward with its cannabinoids (CBD) treatment trials. AXIM Biotechnologies, Inc. is moving forward with trials of its CanChew, which is the first patented controlled-release CBD gum. In addition, AXIM Biotechnologies, Inc. continues to develop another line of cannabis chewing gum, with its MedChewRx gum, which will feature CBDs and THC. Here is the full press release of the medical trials:
AXIM Biotechnologies, Inc. Press Release:
REDONDO BEACH, CA–(Marketwired – Oct 31, 2016) – SECFilings.com, a leading financial news and information portal offering free real time public company filing alerts, announces an article discussing AXIM Biotechnologies, Inc. ( OTCQB : AXIM ) recently announced closing of a private funding round that will allow the company to continue clinical trials related to the treatment of a variety conditions. AXIM is focused on cannabinoids, and particularly the development of novel and more effective delivery methods for these and other compounds.
AXIM’s CanChew® is the world’s first patented controlled-release cannabinoid chewing gum and is currently available as an over-the-counter supplement. AXIM has taken things a step further with the development of MedChewRx™, the company’s pharmaceutical candidate that combines cannabidiol (CBD) and tetrahydrocannabinol (THC), both naturally extracted and synthetic, in a patented controlled-release chewing gum.
The focus on chewing gum, and the patent behind this unique delivery method, is of particular interest. The company’s researchers have proven that the act of chewing — known as mastication in the medical community — could also have neurological benefits. According to a growing body of research, the act of chewing could prevent cognitive dysfunction by changing internal carotid arterial blood flow and thereby increasing cerebral circulation/ perfusion. Chewing gum could therefore cause regional increases in neuronal activity that could be cognitively beneficial. Combined with the therapeutic action of the APIs (active pharmaceutical ingredients), MedChew Rx aims to improve the efficacy over existing medications.
AXIM Biotechnologies, Inc. is currently in the early stages of multiple Phase I-II trials to determine the efficacy of MedChew in the treatment of pain and spasticity related to multiple sclerosis as well as other indications, such as IBS, IBD and Crohn’s disease. The recently secured funding should allow the company to complete these trials. Multiple sclerosis patients suffering from pain and spasms account for an estimated $4.8 billion market. Showing efficacy here would greatly enhance the value of the company.
AXIM Biotechnologies, Inc. also has a patent-pending drug called AX-1602 which is the world’s first CBG (cannabigerol)/CBD-based candidate for treatment of psoriasis and atopic dermatitis currently undergoing clinical trials. These conditions affect over 20 million Americans and many more worldwide, and there is a dearth of effective treatments without harmful side effects.