AXIM Moving Forward with CBD Trials for a Number of Indications
October 28, 2016 12:26 pm ET
AXIM Biotechnologies (OTCQB: AXIM) recently announced the closing of a private funding round that will allow the company to continue clinical trials related to the treatment of a variety conditions. AXIM is focused on cannabinoids, and particularly the development of novel and more effective delivery methods for these and other compounds.
In this article, we will discuss the delivery method, trials, and the significance of the funding for the company going forward.
Chewing Enhances Delivery
AXIM's CanChew® is the world's first patented controlled-release cannabinoid chewing gum and is currently available as an over-the-counter supplement. AXIM has taken things a step further with the development of MedChewRx™, the company's pharmaceutical candidate that combines cannabidiol (CBD) and tetrahydrocannabinol (THC), both naturally extracted and synthetic, in a patented controlled-release chewing gum.
The focus on chewing gum, and the patent behind this unique delivery method, is of particular interest. The company’s researchers have proven that the act of chewing – known as mastication in the medical community – could also have neurological benefits. According to a growing body of research, the act of chewing could prevent cognitive dysfunction by changing internal carotid arterial blood flow and thereby increasing cerebral circulation/ perfusion. Chewing gum could therefore cause regional increases in neuronal activity that could be cognitively beneficial. Combined with the therapeutic action of the APIs (active pharmaceutical ingredients), MedChew Rx aims to improve the efficacy over existing medications.
Beyond the apparent cognitive benefits of the chewing action, the controlled-release gum provides for trans-oral mucosal delivery of the active ingredients to the blood stream. This turns out to be the second most direct and efficient form of delivery to smoking the product, but has none of the negative health effects associated with smoke inhalation.
The API’s included in MedChew Rx are well investigated with a proven safety record. This is a major boon to the company, as safety trials tend to be expensive and add to the need for biotech companies to raise money, which can often dilute shareholder value.
AXIM is currently in the early stages of multiple Phase I- II trials to determine the efficacy of MedChew in the treatment of pain and spasticity related to multiple sclerosis as well as other indications, such as IBS, IBD and Crohn’s disease. The recently secured funding should allow the company to complete these trials. Multiple sclerosis patients suffering from pain and spasms account for an estimated $4.8 billion market. Showing efficacy here would greatly enhance the value of the company.
AXIM also has a patent-pending drug called AX-1602 which is the world's first CBG (cannabigerol)/CBD-based candidate for treatment of psoriasis and atopic dermatitis currently undergoing clinical trials. These conditions affect over 20 million Americans and many more worldwide, and there is a dearth of effective treatments without harmful side effects.
The company is also planning trials for the treatment of Parkinson's disease, dementia, and restless leg syndrome. By securing the funding to forge ahead with these ambitious and important trials, AXIM has demonstrated the market's confidence in both the medicinal potential of cannabinoids in general, and the effectiveness of the chewing gum method of delivery in particular.
AXIM Biotechnologies sits at the intersection of the emerging legal cannabis market and the long established biotech market. As such, it has largely flown under the radar of many investors. As the cannabis market rides a current wave of hope and higher valuations in the lead-up to elections that could further validate the market in general, AXIM has gained some visibility and value independently of the political sentiment regarding cannabis.
It is important to distinguish, however, between cannabis investments based on hope and not much else, and those based on clinical advancement of real therapeutic products. Biotechs build value by advancing candidates through clinical trials, and that is exactly what AXIM's funding allows the company to do. When all the hoopla dies down, AXIM will still be working to prove, and get approved, the medical benefits of a unique and surprising treatment for a number of vexing conditions.
For more information, please visit http://aximbiotech.com/.