Business
AXIM Biotechnologies Reports Second Quarter 2017 Results
AXIM Biotechnologies Reports Second Quarter 2017 Results.
About this update from Axim Biotechnologies, Inc.
[{"type":"text","content":"\n\n NEW YORK, Aug. 22, 2017 (GLOBE NEWSWIRE) -- AXIM® Biotechnologies, Inc. (AXIM® Biotech) (OTC:AXIM), a world leader in cannabinoid research and development, today announced results for the quarter ended June 30, 2017, and provided an overview of recent operational highlights.\n “The development of cannabinoid-based therapeutics continues to gather momentum in the U.S. and around the world. Significant progress is being made at research centers proving the effectiveness of a number of cannabinoids and related compounds for conditions such as spasticity, refractory epilepsy, osteoporosis, graft vs. host disease, psoriasis, eczema and vitiligo to name a few. Amid these encouraging developments, AXIM continued to make progress with our diversified and robust clinical pipeline of cannabinoid-based products,” said George E. Anastassov, MD, DDS, MBA and Chief Executive Officer of AXIM Biotech. “During the quarter, we announced the filing of a new patent of a chewing gum with controlled release of cannabinoids and opioid agonists and antagonists for treatment of opioid addiction and cannabis dependence. We pushed forward on phase II clinical trial with CanChew Plus® on treating patients with Irritable Bowel Syndrome, and made steady progress on our MedChew Rx® Multiple Sclerosis program. We initiated two new clinical programs using cannabinoids to treat Restless Leg Syndrome and Illicit Drug-Induced Psychosis. Last but not least, we secured institutional funding that enables us to further the progress we have made.” Second Quarter and Recent Highlights During and since the second quarter of 2017, AXIM Biotechnology achieved the following milestones and significant events: Technology Achievements Announced a new patent application with the USPTO - 62/410,469, a patent of invention that involves a functional, controlled-release chewing gum composition with cannabinoids and opioid agonists and/or antagonists for opioid addiction and/or cannabis dependence treatmentThe Company’s intellectual property portfolio now includes two fully issued patents – one patent allowing the use of CBD (cannabidiol) in controlled-release, functional chewing gum, and another patent for chewing gum containing natural and synthetic cannabinoids for the treatment of pain, as well as 15 patent application...