NEW YORK, Aug. 08, 2019 (GLOBE NEWSWIRE) -- AXIM® Biotechnologies, Inc. (“AXIM® Biotech,” “AXIM” or “the Company”) (OTCQB: AXIM), a world leader in cannabinoid research and development, today announced that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for a patent (Application No. 16/293,136) on anti-microbial compositions comprising cannabinoids, specifically cannabigerol (CBG). The USPTO granted this patent allowance from AXIM’s patent application filed on March 5, 2019.
All products that AXIM has the opportunity to produce under this patent will be made using CBG, a strong anti-microbial agent. AXIM aims to utilize this patent in the development of products for the treatment of symptoms associated with fungal-related diseases, including tinea pedis, commonly known as athlete’s foot. AXIM intends to develop future products under this patent in an aerosol form and foot powder for easy application. Other products with different anti-microbial applications are also considered for development under this patent.
According to Grand View Research, the global antifungal drugs market is expected to reach $12.7 billion by 2025, giving AXIM the opportunity to offer its unique products to a large market.
“We have recognized the importance of patents since our early days with our well-known patent on chewing gum as a delivery mechanism for all cannabinoids,” said John W. Huemoeller II, Chief Executive Officer of AXIM® Biotech. “We look forward to continuing to lead cannabis innovation with this patent and future patents as the industry advances both in market growth and legitimacy.”
Once granted this patent, AXIM will hold eight issued patents and 11 pending patent applications.
For more information about the company and its clinical product pipeline, please visit www.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 product, MedChew® with dronabinol, is planned to undergo a bioequivalence study in the near future to fast track through FDA as an alternative to approved Marinol. For more information, please visit www.AXIMBiotech.com.
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 AXIM Biotechnologies, Inc. to be materially different from the statements made herein.
LEGAL DISCLOSURE
AXIM® Biotechnologies does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA).
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