Subject: AXIM Secures Funding to Advance Clinical Trials

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AXIM Secures Funding to Advance Clinical Trials
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Company: AXIM® Biotechnologies, Inc. (OTCQB: AXIM)


Price: 9.58

Change (%): - 0.02 (0.21)

Volume: 13,340
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AXIM® Biotechnologies Secures Funding to Advance Clinical Trials and Bioequivalency Study

NEW YORK, June 19, 2017 (GLOBE NEWSWIRE) - AXIM® Biotechnologies, Inc. (AXIM® Biotech) (OTC:AXIM), a world leader in cannabinoid research and development, today announced that the Company has secured 4 million dollars of institutional funding to further advance its clinical trials for the treatment of Irritable Bowel Syndrome (IBS), pain and spasticity in Multiple Sclerosis (MS), and to continue a bio-equivalency study on creating an alternative to Marinol® using the company’s patented chewing-gum delivery system.

“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,” said George Anastassov, MD, DDS, MBA, and Chief Executive Officer of AXIM. “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, which is undergoing clinical research to treat pain and spasticity in MS patients. AXIM aims to capture part of the MS treatment market, which Grand View Research, Inc. estimates will grow to 24.8 billion dollars by 2024.

CanChew® Plus is AXIM’s new and improved functional chewing gum with higher active pharmaceutical ingredient (API) of CBD, and is undergoing Phase II clinical trials for treatment of IBS at the University of Wageningen in The Netherlands. CanChew® Plus utilizes the Company’s patented microencapsulation technology for increased bioavailability and absorption.

MedChew Dronabinol is a prototype chewing gum that AXIM is developing with a U.S.-based controlled-substances API company as a bio-equivalent product to Marinol® for treatment of nausea and loss of appetite in cancer treatment patients.

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