AXIM® Biotechnologies, a Medical Marijuana, Inc. investment company, is back in the news again this week, revealing that the company has gained the approval necessary to start next phase clinical trials for its CanChew® Plus cannabinoid-infused chewing gum.
Following a wave of positive achievements announced by the company this year, driving its stock price to 2000 percent gains year over date, AXIM® Biotechnologies reported this week that they received approval from the Medical Ethical Committee (METC) of Wageningen University, located in The Netherlands, to begin a study on patients suffering from irritable bowel syndrome (IBS) featuring its CanChew® Plus CBD gum.
The METC at Wageningen University, an institutional approval board that is compliant with the Ethical Principles for Medical Research, is responsible for reviewing and approving applications for clinical studies to be performed at the school. According to the Times Higher Education World University Rankings, Wageningen is the top university in The Netherlands.
In discussing the recent news, Medical Marijuana, Inc. CEO Dr. Stuart Titus said, “It is the goal of AXIM® and our entire family of companies to help people suffering from various gastrointestinal disorders with no effective remedies such as IBS. Positive outcomes from these type of studies can help in the immediate need to enter trials for inflammatory bowel disease (IBD) and Crohn’s disease.”
Irritable bowel syndrome is a common disorder that affects around 11 percent of the world’s population, striking women under 50 more than any other group. IBS, affecting the large intestine, commonly causes cramping, abdominal pain, bloating, gas, diarrhea and constipation. IBS is a chronic condition that requires long-term management. However, the condition’s impact on a patient’s overall quality of life may be the most significant complication, leading to a demand for effective treatments to ease the suffering of affected patients.
Dr. Titus continued, “With the global treatment market for irritable bowel syndrome estimated to grow in value to $1.5 billion by 2023, cannabis-based products like CanChew® Plus can provide viable solutions for patients suffering from some of the most common of functional gastrointestinal disorders.”
AXIM® Biotechnologies is looking to utilize the human body’s natural endocannabinoid system, which is responsible for maintaining homeostasis among our systems, and their patent on delayed-release chewing gum as a delivery method for cannabinoids to create a novel new treatment solution for those living with IBS.
The company’s IBS study is just one of several clinical studies AXIM® Biotechnologies is looking to undertake. Earlier in the year, AXIM® announced that it had secured the necessary funding to move forward with a group of cannabinoid-based clinical trials, including trials on its MedChew® RX, CanChew® Plus, and AX-1602 topically applied cannabinoid ointment. The company also published a development pipeline chart to reveal their new drug schedule for the coming months and years.
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