AXIM Biotech has closed on a private funding round that will enable it to continue clinical trials for a variety of conditions, including its pharmaceutical candidate MedChew Rx, a patented cannabinoid release chewing gum for treating pain and spasticity in multiple sclerosis (MS).
According to a press release from SECFilings.com, a major business focus of AXIM is on the research, development and production of pharmaceutical, nutraceutical, and cosmetic products based on cannabinoids, particularly the development of novel and more effective therapeutic delivery methods for these and other compounds.
AXIM’s CanChew is the first patented controlled-release cannabinoid chewing gum, and is currently available as an over-the-counter supplement. CanChew chewing gum has a unique oral mucosal absorbance delivery system. Its active ingredient is the hemp-derived cannabinoid compound cannabidiol (CBD), which does not produce a “high” effect.
According to the CanChew website, the product is nonhabit forming, does not require a prescription, is available in all 50 states, is mint-flavored, and has no artificial sweeteners or preservatives.
The company says its pharmaceutical candidate MedChew Rx is the first patented cannabinoid release chewing gum for treating pain and spasticity in MS. MedChewRx combines the cannabinoids cannabidiol (CBD, 5 mg) and tetrahydrocannabinol (THC, 5 mg), both naturally extracted and synthetic, as its active ingredients. AXIM anticipates a release date as early as 2017.
Medical cannabis holds promise as a potential therapy for some specific, difficult-to-treat pain associated with disorders like MS and other conditions that cause nerve pain. AXIM hopes MedChew RX will be soon be approved for therapeutic use for MS by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA).
In addition to treating nerve pain, AXIM’s researchers have proven that the act of chewing — known as mastication in the medical community — could also have benefits in treating neurological disorders. A growing body of research supports the theory that chewing could have therapeutic value in helping to prevent cognitive dysfunction by changing internal carotid arterial blood flow and thereby increasing cerebral circulation.
As a result, the act of chewing gum could stimulate regional increases in neuronal activity that could reap cognitive benefits. Mastication combined with the therapeutic action of MedChew Rx’s cannabinoid APIs (active pharmaceutical ingredients) is believed to offer greater effectiveness than that of existing medications. AXIM’s online Research Library provides links to selected research papers and articles on research into mastication as therapy and related topics.
With affordable healthcare as one of its key corporate objectives, AXIM is pitching MedChew Rx as a reasonably priced alternative for many indications, including pain and spasticity in MS. According to a feature article by the Reuters news service documenting AXIM’s clinical trials on MedChew Rx in the Netherlands, the company expects to price the gum cheaper than the competition, thanks to its having secured a significant discount on cannabis made available by the Netherlands government, which has a policy of promoting the drug for medicinal use.
The SECFilings.com article notes that AXIM is currently in the early stages of multiple Phase 1-2 trials to determine the effectiveness of MedChew Rx in the treatment of pain and spasticity related to multiple sclerosis and other indications, such as inflammatory bowel syndrome (IBS), inflammatory bowel disease (IBD), and Crohn’s disease, and that the recently secured new funding should enable the company to complete these trials.
Among the estimated 400,000 people with MS in the U.S. and some 2.5 million worldwide, roughly 80 percent suffer from spasticity, which is frequently treated with the drug baclofen. The Reuters article estimates that the U.S. market for MedChew Rx could amount to more than $4.8 billion annually, although it notes that health systems in some countries don’t consider the drug cost-effective enough to justify coverage.
AXIM CEO George E. Anastassov, MD, spoke at The Money Show Dallas conference in October about emerging cannabis markets and particularly the cannabis drug market. The conference was for investors and traders in search of global opportunities for diversification and profits.
Anastassov’s presentation, “The Cannabis Drug Market & Emerging Markets,” was an in-depth discussion about the latest information available for investors to learn and profit from opportunities in today’s market. Anastassov spoke about the value of cannabinoids and hemp derivatives, including how AXIM Biotech is using synthetic and natural cannabinoids in the company’s line of pharmaceutical, consumer, and alternative energy products.
Anastassov said in a press release that “what makes MedChew Rx unique and superior is its precise, controlled release mechanism to the oral mucosal capillary circulation, thus bypassing the first-pass, liver metabolism. Second, it provides neuroprotective and neurostimulatory benefits derived from the act of mastication. These beneficial effects become quite apparent with the recent introduction and FDA approval of QuilliChew ER (methylphenidate HCL in a chewing gum format) for treatment of ADHD by Pfizer.”
AXIM Biotech grows, sells, and distributes hemp-based products, but the company does not sell or distribute products in violation of the U.S. Controlled Substances Act.
For more information, visit AXIM Biotech’s website at