NEW YORK, Aug. 07, 2018 (GLOBE NEWSWIRE) -- AXIM® Biotechnologies, Inc. (AXIM® Biotech ) (OTC: AXIM), a world leader in cannabinoid research and development, today announced positive results from stability and dissolution tests performed on its prime drug candidate, MedChew Rx®, which will undergo clinical trials for the treatment of pain and spasticity in Multiple Sclerosis (MS) patients. Results showed that the primary Active Pharmaceutical Ingredients (APIs) in MedChew Rx™ remained stable throughout the test and that the availability of the APIs was greater than 90%.
MedChew Rx® is comprised of the cannabinoid molecules delta-9-tetrahydrocannabinol (THC) and cannabidiol (CBD), which generally degrade after time. Using the Company’s proprietary microencapsulation technology, AXIM® Biotech was able to keep the molecules stable in their formulation throughout the test period. In addition to its stability, the pharmaceutical candidate showed positive availability results through a dissolution test, indicating a greater than 90% availability of the APIs. The company will use this valuable new data as it continues with its clinical trials in its MedChew Rx® pharmaceutical development program.
“Data from these studies is an essential component in manufacturing as well as regulatory submissions and we are pleased to see such positive results for our MedChew Rx® program,” said George E. Anastassov, MD, DDS, MBA and Chief Executive Officer of AXIM® Biotech. “While we knew our controlled-release chewing gum delivery system would deliver the molecules with increased bioavailability to the body, we needed to ensure that the molecules would remain stable and available in this format. Not only did we see this, but we measured an industry-leading stability in THC, which is a notoriously unstable molecule. Beyond approval, this data will be essential to monitor quality and batch-to-batch consistency of our products after we have received regulatory approval and are selling on the market.”
While treatments for MS do exist, the more than 2.3 million MS patients around the world are looking for additional safe and efficacious treatment options for symptoms such as pain and spasticity associated with MS. According to research firm Global Data, the global market for MS treatment is estimated to reach $20 billion by 2024.
About AXIM® Biotechnologies AXIM® Biotechnologies, Inc. ( AXIM ) focuses on the research, development and production of cannabis-based pharmaceutical, nutraceutical and cosmetic products. Our flagship products include CanChew+®, a CBD-based controlled release chewing gum, CanChew+ 50®, containing 50 mg of CBD undergoing clinical trials in patients with IBS and MedChew Rx®, a combination CBD/THC gum that will undergo clinical trials for the treatment of pain and spasticity associated with MS. AXIM has a number of products developed or in developmental stage for treatment and/ or prevention of multiple conditions and symptoms. We prioritize the well-being of our customers while embracing a solid fiscal strategy. For more information, please visit AXIMBiotech.com.
FORWARD-LOOKING DISCLAIMER This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Axim Biotechnologies, Inc. to be materially different from the statements made herein. LEGAL DISCLOSURE AXIM® Biotechnologies does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA).
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