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AXIM® Biotechnologies, Inc. Secures Funding to Continue Pharmaceutical Clinical Trials Program in Cannabinoid Research and Development for Multiple IndicationsNEW 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:
About AXIM® FORWARD-LOOKING DISCLAIMER LEGAL DISCLOSURE Public Relations Contact: Andrew Hard Chief Executive Officer CMW Media P. 888-829-0070 [email protected] www.cmwmedia.com |