AXIM Biotechnologies, Inc. (OTCQB: AXIM) is engaged as a CBD-based biotechnology company. Shares of the medical CBD treatment developer are increasing 5%, through afternoon trading on Friday, June 23, 2017. Over the past month, AXIM Biotechnologies, Inc. has seen average daily volume of 55,671 shares. However, volume of 22,771 shares or dollar volume of $244,560, has already exchanged hands on Friday.
Shares of AXIM Biotechnologies, Inc. are gaining today, after the company announced it has filed a patent for its controlled-release opioid addiction treatment chewing gum. The chewing gum will be designed to help against opioid addiction and dependence. Here is the full press release detailing of the patent filing:
AXIM Biotechnologies, Inc. Press Release:
NEW YORK, June 23, 2017 (GLOBE NEWSWIRE) — AXIM Biotechnologies, Inc. (AXIM Biotech) (OTC:AXIM), a world leader in cannabinoid research and development, today announced that the company filed with the United States Patent and Trademark Office (USPTO) for U.S. Application Serial Number 62/410,469, a patent of invention that involves a chewing gum composition with controlled release of cannabinoids and opioid agonists and/or antagonists for addiction and/or dependence treatment. The chewing gum may also be used for treatment of chronic pain.
“Opioid addiction is a serious global problem that affects the health, social, and economic welfare of all societies. Opioid addiction therapy depends on a variety of techniques. One of them is the replacement therapy, where an opioid is replaced with another less potent and less addictive opioid that curbs the craving and reduces withdrawal symptoms, while maintaining the person’s mental state such that the person is still able to function normally,” said George E. Anastassov, MD, DDS, MBA and Chief Executive Officer of AXIM Biotech.
In addition, by providing replacement opioids such as opioid agonists and/or antagonists and cannabinoids in a chewing gum form, users may avoid adverse effects caused by injection, smoking and other delivery methods. The act of chewing is also known to be neuroprotective, destressing, it induces the release of reward hormones such as dopamine and serotonin, and improves oral health.
“This is another milestone achievement for AXIM Biotech. We believe we are the first to file patent application on using chewing gum as the delivery system for opioids and combination of opioids and cannabinoids. With this filing, we are one stop closer toward entering the $100 billion market in pain management,” said Dr. Anastassov.
An agonist is a chemical that binds to a receptor and activates the receptor to produce a biological response. Full opioid agonists activate the opioid receptors in the brain resulting in the full opioid effect. Examples of full opioid agonists include hydrocodone, methadone, morphine, opium, and oxycodone. Other opioids of lower potency and with less addictive potential such as methadone, buprenorphine bind to the same receptors in the central nerve system and thus may reduce craving sensation while minimizing adverse effects on users.
However, all opioid agonists to one degree or another have side effects such as decreased respiratory drive which may lead to asphyxia, nausea and vomiting, pneumonia, constipation, etc.
An antagonist is a chemical that blocks or dampens agonist-mediated responses. Opioid antagonists block opioids by attaching to the same opioid receptors without activating them. Examples of opioid antagonists are naltrexone and naloxone. The antagonists bind to the same receptors as agonists thus removing the opioids from these sites. Thus, the negative side effects of the agonists are diminished.
Cannabinoids and in particular cannabidiol (CBD) may decrease craving for narcotics. Cannabinoids may be provided in microencapsulated form, which may improve the chewing gum’s taste, prevent binding with the gum base, control cannabinoid release during mastication, and further improve bioavailability of the cannabinoids once entering the gastrointestinal tract.
AXIM® Biotechnologies, Inc. (AXIM) focuses on the research, development and production of cannabis-based pharmaceutical, nutraceutical and cosmetic products. Our flagship products include CanChew®, a CBD-based controlled release chewing gum, CanChew+ containing 50 mg of CBD undergoing clinical trials in patients with IBS and MedChew Rx, a combination CBD/THC gum that is undergoing clinical trials for the treatment of pain and spasticity associated with multiple sclerosis. We prioritize the well-being of our customers while embracing a solid fiscal strategy. For more information, please visit 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).