NEW YORK, May 09, 2019 (GLOBE NEWSWIRE) -- AXIM® Biotechnologies, Inc. (“AXIM”) (“the Company”) (“AXIM® Biotech”) (OTC: AXIM), a world leader in cannabinoid research and development, today announced that the Company has filed a provisional patent application with the United States Patent and Trademark Office (USPTO) for a patent on a chewing gum composition comprising cannabinoids and parthenolide (feverfew extract) for treatment of symptoms of migraines. AXIM’s provisional patent application was filed on May 8, 2019.
AXIM® Biotech plans to formulate a chewing gum under this invention that contains feverfew extract, cannabidiol (CBD) and/or cannabigerol (CBG) for treatment of symptoms that often accompany migraines, such as headache, pain, nausea, and light sensitivity. Feverfew has been proven to relieve and prevent symptoms of migraines.
“As AXIM moves forward with its plan to build out its product line and increase revenue for the funding of clinical trials, we are proud to announce this patent application for a novel chewing gum product that aims to treat symptoms associated with such a common ailment as a migraine,” said AXIM® Biotech CEO John W. Huemoeller II. “According to some studies, migraines affect roughly 38 million people in the U.S. and AXIM plans to offer those in need with a natural, easy-to-take option not currently offered on the market.”
Different from AXIM’s recently issued patent on a method to treat atopic dermatitis using a formulation containing cannabinoids in topical cream form, the new formulation will be delivered through the Company’s propriety sustained-release chewing gum delivery technology that will release active ingredients in a controlled manner into the oral cavity.
According to Grand View Research, Inc., the global migraine treatment market size is expected to reach $7.8 billion by 2025. There is a large opportunity for AXIM to bring a natural option not currently available on the market to those seeking treatment for symptoms of migraines.
To learn more about AXIM® Biotechnologies, Inc., visit http://aximbiotech.com/.
About AXIM® Biotechnologies
AXIM® Biotechnologies, Inc. (AXIM) is a world leader in the research and development of cannabinoid-based pharmaceutical and nutraceutical products. Along with building a robust intellectual property portfolio, AXIM is focused on clinical development programs that bring more efficacy and/or lower side effects than existing alternatives and require small to medium budgets and timelines to bring to market which presents a high added-value to the pharmaceutical field.
AXIM's flagship products include MedChew® with dronabinol, which is planned to undergo a bioequivalence study to fast track through FDA as an alternative to approved Marinol; MedChew® RL, which is planned to undergo clinical trials for treatment of restless leg syndrome; and MedChew® Rx, a combination cannabidiol (CBD)/tetrahydrocannabinol (THC) functional, controlled-release chewing gum that is planned to undergo clinical trials for the treatment of pain and spasticity associated with Multiple Sclerosis (MS). For more information, please visit www.AXIMBiotech.com.
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AXIM® Biotechnologies does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA).