AXIM Biotechnologies, Inc. (OTCQB: AXIM) is engaged within the research, development, and production of cannabis-based pharmaceuticals and nutraceuticals. Shares of the CBD-based treatment developer are gaining 12.40%, through early trading on Thursday, October 5, 2017. Over the past month, AXIM Biotechnologies, Inc. has seen average daily volume of 14,618 shares. However, volume of 51,416 shares or dollar volume of $431,894, has already exchanged hands through early trading today.
Shares of AXIM Biotechnologies, Inc. are rallying today, after the company announced that it has received a Notice of Allowance from the U.S. Patent and Trademark Office for U.S. Application Serial Number 14/982,610. The awarded patent protects the company’s CBD-based ophthalmic solutions to treat glaucoma and conjunctivitis. The patent was originally filed in December 2015. Here is the full press release detailing of the awarded patent:
AXIM Biotechnologies, Inc. Press Release:
NEW YORK, Oct. 05, 2017 (GLOBE NEWSWIRE) — AXIM® Biotechnologies, Inc. (AXIM® Biotech), (OTC:AXIM), a world leader in cannabinoid research and development, today announced that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for U.S. Application Serial Number 14/982,610, a patent that claims the use of an ophthalmic solution comprising cannabinoids for the treatment of glaucoma and symptomatic relief of conjunctival inflammation. A Notice of Allowance is issued after the USPTO makes a determination that a patent can be granted from AXIM’s patent application, 14/982,610, filed in December 2015.
AXIM® Biotech announced on March 21, 2017 that it retained the services of Ora®, Inc., a global Contract Research Organization (“CRO”), to perform the company’s product development (based on AXIM’s IP) in glaucoma and dry eye syndrome utilizing cannabinoid-based therapeutics through its AX-1603 and AX-1606 clinical programs.
“As we move forward in our product development and clinical trials for glaucoma and dry eye, this patent approval by the USPTO is paramount for us to be successful in finding new and improved cannabinoid-based treatment options for these highly-prevalent ophthalmic diseases with significant unmet medical needs,” said George E. Anastassov, MD, DDS, MBA and Chief Executive Officer of AXIM Biotech. “In 2016, global spending on glaucoma management was $6 billion, so we are excited about the opportunity that this new patent grants us to develop new treatments with novel mechanisms of action that will in turn reduce the risk of progression of visual field loss.”
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 multiple sclerosis. 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.
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).