NEW YORK , Sept. 10, 2019 (GLOBE NEWSWIRE) — AXIM® Biotechnologies, Inc. (“AXIM® Biotech,” “AXIM” or “the Company”) (OTCQB: AXIM), a world leader in cannabinoid research and development, announced today that its contract manufacturer Eurofins Amatsigroup has begun manufacturing AXIM’s patented cannabinoid-based chewing gum with dronabinol, a synthetic form of tetrahydrocannabinol (THC), for use in the Company’s upcoming clinical studies on cannabis as a treatment for chemotherapy related symptoms.
According to the Center of Disease Control and Prevention (CDC), about 650,000 cancer patients in the U.S. receive chemotherapy in an outpatient oncology clinic each year with an average cost of $100,000 per patient per year.Chemotherapy has been proven to be an effective treatment to kill cancer cells but in the process causes damage to other cells and tissues in the body. Symptoms that many chemotherapy patients experience include a weakened immune system, pain, nausea, vomiting, and diarrhea.
Eurofins Amatsigroup is one of the largest independent international contract development and manufacturing organization (CDMO) in Europe that provides biopharmaceutical analysis, formulation development and manufacturing, biological research & development, among other services. The company and its highly-qualified project management team, which has cumulative experience in the field of over 30 years, creates drug development strategies in compliance with all regulatory requirements including EMA, FDA, ANSM, ANSES, FAMHP, and PMDA.
In the coming months, AXIM intends to conduct a bioequivalence study between its chewing gum with dronabinol and an FDA-approved synthetic capsule. The Company plans to provide evidence that the Company’s chewing gum with dronabinol can serve as an alternative to orally ingested dronabinol for the treatment of symptoms associated with chemotherapy. AXIM plans to formulate its gum with various amounts of dronabinol, including 2.5 mg, 5 mg and 10 mg of dronabinol, for the study.
“We are excited to get started on manufacturing our gum containing dronabinol and proving that our unique delivery method can provide cancer patients with quicker and more efficient relief from their chemotherapy related symptoms,” said John W. Huemoeller II, Chief Executive Officer of AXIM® Biotech. “By offering delivery through the oral mucosa, our gum allows cannabinoids to bypass the stomach and the liver and be absorbed directly into the bloodstream.”
For more information about the Company and its clinical product pipeline, please visit www.aximbiotech.com.
About AXIM® Biotechnologies
AXIM® Biotechnologies, Inc. (AXIM) is a world leader in the research and development of cannabinoid-based pharmaceutical and nutraceutical products. Along with building a robust intellectual property portfolio, AXIM is focused on clinical development programs that bring more efficacy and/or lower side effects than existing alternatives and require small to medium budgets and timelines to bring to market which presents a high added-value to the pharmaceutical field.
AXIM’s flagship product, MedChew® with dronabinol, is planned to undergo a bioequivalence study in the near future to fast track through FDA as an alternative delivery mechanism. For more information, please visit http://www.AXIMBiotech.com.
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.
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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