Business
AXIM Biotechnologies Reports Year End 2017 Results
AXIM Biotechnologies Reports Year End 2017 Results.
About this update from Axim Biotechnologies, Inc.
[{"type":"text","content":"\n\n ­­\n NEW YORK, March 19, 2018 (GLOBE NEWSWIRE) -- AXIM® Biotechnologies, Inc. (AXIM® Biotech) (OTC:AXIM), a world leader in cannabinoid research and development, today announced financial results for the quarter and year ended December 31, 2017, and provided an overview of recent operational highlights. “During the year, we continued to make solid progress with our clinical pipeline of cannabinoid products. We moved forward to develop a dronabinol-based functional, controlled-release chewing gum product bioequivalent to Marinol® to help treat patients with chemotherapy induced nausea and vomiting and AIDS patients experiencing appetite and weight loss. Our product development partner obtained the licenses to import and work with controlled drugs that are required to continue the development of MedChew Rx® pharmaceutical chewing gum to treat pain and spasticity associated with multiple sclerosis (MS). We achieved encouraging clinical trial results from our phase IIA pilot trial for the treatment of irritable bowel syndrome (IBS) with our CanChew +® 50 mg CBD (cannabidiol) functional, controlled release chewing gum,” said Dr. George Anastassov, MD, DDS, MBA and CEO of AXIM Biotechnologies. “In addition, we received two new patent allowances for cannabinoids-based ophthalmic solutions for the treatment of glaucoma and symptomatic relief of conjunctival inflammation, and 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 are committed to innovation, and believe the company is well positioned for further growth given our robust IP portfolio and proprietary CGMP extraction and microencapsulation methods.” Fourth Quarter and Recent Highlights During and since the fourth quarter of 2017, Axim Biotechnology achieved the following milestones and significant events: Technology Achievements Announced that the USPTO issued to AXIM a Patent (9,814,695) from U.S. Application - 14/982,610, a patent that claims ophthalmic solutions comprising cannabinoids for the treatment of glaucoma and symptomatic relief of conjunctival inflammation. Another Notice of Allowance from U.S. Patent Application 15/728,283 is also issued, for the method to use the...