AXIM Biotech Advances Multiple Sclerosis Program
May 4, 2017 7:01 am ET
Cannabinoids have become an increasing area of focus for researchers across a variety of fields of medicine. In addition to replacing opioids, researchers have focused on how cannabinoids can be used to alleviate the symptoms of many nervous system-related conditions, such as multiple sclerosis. Many of these diseases have no known cures and largely ineffective treatment options with significant side-effects.
In this article, we will take a closer look at how AXIM® Biotechnologies Inc.’s (OTC: AXIM) MedChew Rx® could become a treatment option for patients suffering from multiple sclerosis - or M.S. - and the company’s progress in beginning clinical trials.
Multiple sclerosis is a debilitating disease whereby the insulating covers of nerve cells in the brain and spinal cord are damaged. This damage impedes communication throughout the nervous system, which results in physical, mental, and psychiatric problems.
There is no known cure for multiple sclerosis, but there are treatments that improve function after an attack and prevent new attacks. According to GlobalData, the market for these treatments is expected to reach $20 billion by 2024, driven by the continued development of new products and an increase in diagnoses around the world. There were roughly 2.3 million people diagnosed with the disease around the world in 2015.
Cannabinoids have shown promise in treating the symptoms of multiple sclerosis in clinical trials. For instance, GW Pharmaceuticals plc (NASDAQ: GWPH) developed Sativex as an under-the-tongue spray designed to alleviate these symptoms with both THC and CBD. The company received regulatory approval in 16 countries outside of the United States for the treatment of pain and spasticity associated with multiple sclerosis.
In randomized controlled trials, Sativex was shown to significantly reduce neuropathic pain, spasticity, muscle spasms, and sleep disturbances. The most common adverse effects reported were dizziness, sleepiness, fatigue, feeling of intoxication, and bad taste. While the long-term safety of the treatment is classified as “unknown”, cannabinoids have been used for hundreds of years without significant acute side effects in most populations.
AXIM Biotech is developing its MedChew Rx pharmaceutical chewing gum as a treatment for pain and spasticity associated with multiple sclerosis. The company plans to leverage the same benefits of cannabinoids while improving the delivery system used. Its chewing gum based delivery system may enhance bioavailability and give patients a better tasting and more convenient method of delivery than a sublingual spray, pill, or other options.
AXIM Biotech recently announced that its product development partner, Quay Pharmaceuticals Ltd., has obtained the relevant licenses from the British Home Office to import and work with the controlled drugs that are required to continue the development of MedChew Rx products.
“It is a very exciting development process we have embarked on with AXIM and we are delighted to be supporting them on their range of projects,” said Quay Pharma CEO Maireadh Pedersen. “The development of the MedChew Rx gum will be carefully formulated to ensure that the drugs are preferentially absorbed orally within a specific window of time to provide the best therapeutic outcome for patients.”
The company procures cannabis strains from the Dutch government’s Office of Medicinal Cannabis, which provides it with a low-cost source of high-quality pharmaceutical-grade base materials grown by Bedrocan BV - the world’s only GMP-certified facility for pharmaceutical grade cannabis. In partnership with Syncom BV, the company takes this base material and processes it into 99.9% pure pharmaceutical-grade cannabinoids.
AXIM Biotechnologies Inc. (OTC: AXIM) has made tremendous strides in advancing the clinical trials of its MedChew Rx chewing gums to treat conditions like multiple sclerosis pain and spasticity. In conjunction with its leading partners, the company is focused on developing prototypes that comply with all FDA/EMA regulations. The product will then begin Phase IIA clinical trials at the University of Amsterdam and Phase III trials in Vrije Universiteit.
Investors may want to take a closer look at the stock as management intends to complete Phase III clinical trials early next year.