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| MedChew Rx® is Being Developed as a Pharmaceutical Drug to Treat Multiple Sclerosis |
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 Hot Stock to Watch |
Company: Medical Marijuana, Inc. (Pink Sheets: MJNA)
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Last:
Price: 0.1175
Change (%): + 0.0017 (1.47)
Volume: 2,226,638 |
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Medical Marijuana, Inc. Major Investment AXIM Biotech Moves Forward With Development Of MedChew Rx Pharmaceutical Chewing Gum
Medical Marijuana, Inc. (OTC: MJNA), the first-ever publicly traded cannabis company in the United States, announced today that its major investment company AXIM® Biotechnologies, Inc.’s (AXIM® Biotech) (OTC: AXIM) product development partner Quay Pharmaceuticals Ltd. (“Quay Pharma”) has obtained the relevant licenses from the British Home Office to import and work with the controlled drugs that are required to continue the development of AXIM MedChew Rx® pharmaceutical chewing gum products.
MedChew Rx® is being developed as a pharmaceutical drug to treat pain and spasticity associated with multiple sclerosis (MS). It is formulated with 5 mg of cannabidiol (CBD) and 5 mg of tetrahydrocannabinol (THC).
The value of the MS treatment market is estimated to reach 20 billion dollars by 2024, according to research firm GlobalData. This growth is primarily driven by the continued development of new products and an increase in diagnosis rates across major market areas.
AXIM Biotech works with its partners to procure cannabis strains, extract and purify the strains into pharmaceutical-grade cannabinoids, develop and produce the cannabinoid-containing chewing gum products and afterwards undertake clinical trials. All processes are based on AXIM’s proprietary IPs.
Specifically, AXIM Biotech procures cannabinoid strains from the Dutch Government’s Office of Medicinal Cannabis (OMC), which is produced by Bedrocan B.V. at the world’s only GMP-certified facility for pharmaceutical grade cannabis. AXIM Biotech has co-developed patented extraction and purification methods for 99.9% purity pharmaceutical-grade cannabinoids with Syncom B.V.
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