AXIM® Biotech Begins CanChew Plus® Clinical Trials
January 19, 2017 1:15 am ET
AXIM® Biotechnologies Inc. (OTCQB: AXIM), a world leader in cannabinoid research and development, recently announced clinical trials evaluating its CanChew Plus® cannabidiol (CBD) gum for the treatment of irritable bowel syndrome (IBS) in conjunction with Wageningen University in the Netherlands. The clinical trial will be conducted on 40 patients diagnosed with IBS by ROME III criteria to determine the effectiveness of CanChew Plus®.
“We are pleased to have reached another milestone in the development of AXIM products to treat challenging health conditions,” said George E. Anastassov, MD, DDS, MBA, and CEO of AXIM® Biotech. “IBS is the most common functional gastrointestinal disorder and affects up to 23% of the worldwide population, and it has no sustainable or effective treatment.”
In this article, we will take a closer look at the company’s innovative technology and why investors should consider the stock.
Refined CBD Delivery Method
Research has shown that cannabidiol (CBD) has beneficial effects on gastrointestinal disorders. The CBD Project highlights more than ten studies showing possible benefits in published studies. The cannabinoid is theorized to work by acting on endocannabinoid receptors located in the gut, where it reduces inflammation and mitigates the effects of these disorders. However, there is a clear need for more in-depth research to prove CBD’s efficacy.
“CBD has shown to have promising effects, but there has been a clear need for practical and effective formulations,” said Renger Witkamp, Professor and Chair in Nutrition and Pharmacology of Wageningen University. “Providing it via a chewing gum results in sustained release of the compound and better bio-availability.”
AXIM® Biotech’s CanChew Plus® leverages chewing gum as a delivery mechanism that simplifies the process of consuming CBD and increases its bioavailability. Earlier this year, the company completed pharmacokinetic studies that determined the blood concentration of CBD after consuming a single dose of 10 mg CBD and 30 mg CBD gum. The results from these studies will be used to determine the optimal concentration in the IBS patient trial.
“These results show that excellent bioavailability for CBD may be achieved via our proprietary chewing gum delivery system, so that patients suffering from IBS may have symptomatic relief using an easy-to-use solution,” said Dr. George E. Anastassov in a prior press release.
Significant Long-term Potential
The market for IBS treatment is both large and unmet by traditional pharmaceuticals, which creates a significant market opportunity for CanChew Plus® products. According to Global Data, a consulting firm, the global therapeutics market for IBS is set to rise from $589.6 million in 2013 to $1.5 billion by 2023, representing a compound annual growth rate of almost 9.9%. The expansion is primarily driven by rising IBS prevalence and improved diagnostics around the world.
AXIM® Biotech is also targeting several other indications with a robust clinical pipeline of drug candidates in various stages of development.
The company plans to develop these cannabinoid-based treatments to a level of safety and efficacy where a third-party commercialization partner might shoulder some of the cost and take over late-stage development and ultimately commercialization. By pursuing several targets at the same time, the company is also diversifying its pipeline while creating more opportunities to generate long-term shareholder value.
AXIM® Biotechnologies Inc.’s (OTCQB: AXIM) CanChew Plus® clinical trials mark a key turning point in its corporate history. With positive data from these trials, the company will be ready to proceed immediately with further trials on its pharmaceutical grade CanChew Rx™ products to treat inflammatory bowel disease (IBD), ulcerative colitis, and Crohn’s diseases, which represent multi-billion dollar markets.
For more information, visit the company’s website at www.aximbiotech.com.