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AXIM Biotechnologies announced it has secured financing from private sources to continue its testing of medical cannabinoid products as potential treatments for multiple indications, including pain and spasticity in people with multiple sclerosis (MS).
Specifically, AXIM is testing pharmaceutical delivery systems and active ingredients for its medical marijuana line.
“This financing provides us with the opportunity to boldly continue our efforts in the extremely promising and intricate space of cannabinoid-based therapeutics,” George E. Anastassov, MD, DDS, MBA , AXIM Biotechnologies’ chief executive officer, said in a press release. “We’re pleased that our investors have the full trust that we do in our executive team and advisory board … leaders with proven track records in the multiple indications our company is developing products for.”
One of the company’s most promising therapeutics is MedChew Rx, a chewing gum containing cannabinoids, being developed to address pain and muscle spasticity in MS patients. The gum is designed to offer more consistent relief than existing cannabis-derived products meant to be smoked or eaten.
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