SAN DIEGO, Jan. 06, 2016 (GLOBE NEWSWIRE) -- Medical Marijuana, Inc. (OTC Pink:MJNA) is proud to announce to the public and its shareholders that its portfolio investment, AXIM® Biotechnologies, Inc. (OTC:AXIM), was recently featured in a Health article by Reuters global news agency. The article profiles AXIM’s role in developing the world’s first patented cannabinoid release chewing gum (i.e. THC, CBD, CBG, etc.) – MedChew Rx™ – for pain and spasticity in multiple sclerosis (MS).
“AXIM® is not ‘chewing into’ the existing global pharmaceutical market; it is opening a new medical delivery method with the world’s first patented cannabis-based, controlled-release chewing gum,” states Dr. Stuart W. Titus, Chief Executive Officer of Medical Marijuana, Inc. “Our hats go off to AXIM’s executive leadership. This innovative biotech is clearly on the fast track to becoming a major contributor to the life sciences industry.”
Worldwide estimates are approximately 2.5 million individuals diagnosed with MS. Reuters explains that, “There is no cure for multiple sclerosis, or MS, which affects about 400,000 people in the United States. About 80 percent of patients suffer from spasticity...”
Reuters also states that GW Pharmaceuticals’ Sativex™ costs on average 5.56 pounds ($8.24 USD per dose) with an estimate of four doses per day. In direct comparison, at $32.96 per day or just over $12,000 per year - assuming that all MS patients suffer from pain, the U.S. market potential for MedChew Rx™ can then be estimated at $4.8 billion annually.
The global pharmaceutical market is reported to be worth nearly $1.6 trillion by 2020. AXIM® Biotech intends to develop innovative pharmaceutical delivery systems and API (active pharmaceutical ingredients) for treatment of conditions such as: MS, spasticity, pain, Parkinson’s disease, Alzheimer’s disease/dementia, ADHD (attention deficit hyperactivity disorder), psychosis, PTSD, autism, RLS (restless leg syndrome), glaucoma, IBD, IBS, and Crohn’s disease. All of these efforts are based on proprietary IP.
AXIM® Biotech is a significant investment company for Medical Marijuana, Inc., which holds 14,943,650 shares of common stock and 500,000 shares of preferred stock representing 45.5% equity interest in the cutting-edge biotechnology innovator.
About Medical Marijuana Inc.
The mission of Medical Marijuana, Inc. (OTC Pink:MJNA) is to be the premier cannabis and hemp industry innovator, leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally-friendly, economically sustainable businesses, while increasing shareholder value. For more information on Medical Marijuana, Inc., please visit the company's website at: www.medicalmarijuanainc.com
About AXIM Biotechnologies:
AXIM Biotechnologies (OTC:AXIM) is an innovative biotechnology company focusing on research, development and production of pharmaceutical, nutraceutical and cosmetic products where we prioritize the well-being of our customers while embracing a solid fiscal strategy. For more information, visit the Company website at www.AXIMBiotech.com.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease.
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana, Inc. to be materially different from the statements made herein.
LEGAL DISCLOSURE
Medical Marijuana Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA). Their companies do grow, sell, and distribute hemp-based products and are involved with the federally legal distribution of medical marijuana-based products within certain international markets. Cannabidiol is a natural constituent of hemp oil.