Axim Biotechnologies, Inc. (OTCQB: AXIM) is engaged within the research, development, and commercialization of cannabinoid-based pharmaceuticals and nutraceuticals. Shares of the cannabinoid biotechnology company jumped 44.36%, during trading on Tuesday, March 19, 2019. Over the past month, Axim Biotechnologies, Inc. has seen average daily volume of 251,805 shares. However, volume of 722,384 shares or dollar volume of $1.39 million, exchanged hands during trading on Tuesday.
Shares of Axim Biotechnologies climbed on Tuesday, after the company announced it has received the “issuance of a Notice of Allowance for a patent from the United States Patent and Trademark office,” according to the company. The patent specifically the patent pertains to the treatment of eczema (atopic dermatitis) using a cannabinoid-based topical cream. The two main cannabinoid components within the cream are cannabidiol (CBD) and cannabigerol (CBG). The patent application was originally filed on August 21, 2018 by the company. Here is the full press release detailing of the U.S. patent:
Axim Biotechnologies, Inc. Press Release:
NEW YORK, March 19, 2019 (GLOBE NEWSWIRE) — AXIM® Biotechnologies, Inc. (“AXIM® Biotech” or “AXIM”) (OTCQB: AXIM), a world leader in cannabinoid research and development, today announced the issuance of a Notice of Allowance for a patent from the United States Patent and Trademark Office (USPTO) on a method to treat atopic dermatitis, also known as eczema, using a topical cream containing cannabinoids – specifically cannabidiol (“CBD”) and cannabigerol (“CBG”). The USPTO granted this allowance from AXIM’s patent application 16/106,524, filed on August 21, 2018.
With this patent allowance, AXIM has formulated a topical cream for relief of itching, pain and inflammation that often accompany atopic dermatitis. All creams formulated under this patent will contain cannabinoids and utilize AXIM’s proprietary combination of CBG and CBD. AXIM’s topical cream is projected to be one of the first CBG products available on the market.
“As AXIM moves forward with its long-term business strategy, this patent allowance offers the opportunity to bring another one of our innovative products into the pipeline for both pharmaceutical and nutraceutical markets,” said John W. Huemoeller, CEO of AXIM Biotech. “This patent allowance expands our intellectual property portfolio and makes room for us to build treatment options for consumers suffering from varying medical conditions. Through the formulation of one of the first CBG products available to consumers, AXIM remains a leader in cannabinoid research and development.”
This patent allowance also grants protection for a method to treat atopic dermatitis using a cannabinoid topical cream like above and chewing gums containing cannabinoids, another product protected by a patent in AXIM’s current patent portfolio. The combination of AXIM’s various patented products and methods works to accentuate the value of AXIM’s intellectual property portfolio and exemplifies AXIM’s research and development direction.
Research has shown evidence that both CBD and CBG provide anti-inflammatory and pain relief benefits. AXIM’s proprietary blend of CBG and CBD is the ideal combination for harnessing these benefits. AXIM aims to provide consumers with a topical cream for the $5 billion atopic dermatitis treatment market.
To learn more about AXIM® Biotechnologies, Inc., visit http://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 products include MedChew® with Dronabinol, which is planned to undergo a bioequivalence study to fast track through FDA as an alternative to approved Marinol; Medchew RLTM, which is planned to undergo clinical trials for treatment of restless leg syndrome; and MedChew RxTM, a combination cannabidiol (CBD)/tetrahydrocannabinol (THC) functional, controlled-release chewing gum that is planned to undergo clinical trials for the treatment of pain and spasticity associated with Multiple Sclerosis (MS). For more information, please visit 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).