Biotech focus

AXIM® Biotechnologies (OTCQB: AXIM) Takes on Opioid Epidemic with New Patent

AXIM is a major investment of Medical Marijuana, Inc. (OTC Pink: MJNA), the first publicly traded cannabis company.

More than 12.5 million people misuse prescription opioids, according to the U.S. Department of Health and Human Services, while two million people have been formally diagnosed with an addiction. These addictions cause $78.5 billion in economic damages each year and lead to more than 33,000 deaths from overdose each year. Despite these issues, physicians have few alternatives for prescribing opioids for pain management.

In this article, we will look at AXIM Biotechnologies Inc. (OTCQB: AXIM) and its recent patent on cannabinoid and opioid combinations in chewing gum.

New Patent Addition

AXIM Biotechnologies recently announced a patent on chewing gum with a controlled release of cannabinoids and opioid agonists and/or antagonists for addiction and/or dependence treatment. In addition, the same chewing gum formulation may be used for the treatment of chronic pain as an alternative to opioid-only treatment options, which could represent an enormous end market for future product lines.

“Opioid addiction is a serious global problem that affects the health, social, and economic welfare of all societies,” said AXIM Biotech CEO Dr. George E. Anastassov, MD, DDS, MBA. “Opioid addiction therapy depends on a variety of techniques. One of them is the replacement therapy, where an opioid is replaced with another less potent and less addictive opioid that curbs the cravings and reduces withdrawal symptoms.”

There is evidence that cannabinoids - and cannabidiol (CBD) in particular - may decrease cravings for narcotics. The company aims to provide these cannabinoids in microencapsulated form, which may improve its chewing gum’s taste, prevent binding with the gum’s base, control release during mastication (chewing), and further improve the bioavailability of the cannabinoids once entering the gastrointestinal tract.

Reuters, Fortune, CNBC, and others featured the story.

Breakthrough Product

Opioid addiction is often chemically treated using a combination of two approaches. First, agonists like methadone or buprenorphine activate opioid receptors in the brain to produce a substitute opioid effect with less potential for addiction. Second, antagonists like naltrexone and naloxone block opioids by attaching to the same opioid receptors without activating them, which reduces the side-effects of the agonists and reducing addiction over time.

The addition of cannabinoids to this treatment strategy could prove to be a breakthrough because cannabinoids may help with pain management. Often times, a large struggle with overcoming an opioid addiction is dealing with the resulting increase in pain from the reduction in opioid consumption. Cannabinoids can help fill the void in a way that avoids any addictive properties and enhances the overall patient well-being.

These same properties mean that cannabinoids may be able to act as an opioid substitute in first-line pain medications. For instance, a patient that would normally take 100% opioids may be able to take just 50% opioids and 50% cannabinoids, reducing the likelihood of an opioid addiction and the other negative side-effects associated with high levels of opioids. This may be particularly impactful in cases of chronic pain management.

Looking Ahead

AXIM Biotechnologies Inc.’s (OTCQB: AXIM) new patent on an opioid-cannabinoid combination would be extremely valuable when developed into a product. In addition to treating opioid addiction, the product could reinvent the way that opioids are delivered by pairing them with cannabinoids to reduce the side-effects and likelihood of addiction. Investors may want to keep a close eye on the stock given this development and its other clinical programs.

“This is another milestone achievement for AXIM Biotech,” added Dr. Anastassov. “We believe we are the first to file a patent application on using chewing gum as a delivery system for opioids and combinations of opioids and cannabinoids. With this filing, we are one step closer to entering the $100 billion market in pain management.”

The company’s other clinical programs include chewing gum formulations for prescription and over-the-counter indications, as well as topical applications, suppositories, and ophthalmic preparations. Its CanChew Plus® and AX-1602 represent its most advanced programs that are heading into POC Phase 2A clinical trials in Irritable Bowel Syndrome and Psoriasis - two multi-billion dollar markets that are ripe for innovation. 

The company has significant resources in the medical marijuana sector, and is a major investment of Medical Marijuana, Inc. (OTC Pink: MJNA), the first publicly traded cannabis company. 

For more information, visit the company’s website or investor presentation.