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Axim Biotechnologies Inc (OTCMKTS:AXIM) Finalizes Services Deal With Israel-Based CRO



Axim Biotechnologies Inc

Axim Biotechnologies Inc (OTCMKTS:AXIM) has finalized a Services Deal with an Israel-based CRO to commence a clinical proof of concept trial with its Hemp and Gabapentin chewing gum offering to treat restless leg syndrome in patients. The double blind and PK, randomized, single-center Phase II study, which will be performed in Israel by the CRO, will showcase the efficacy of company’s chewing gum product made of Hemp and Gabapentin on around 30 trial participants to cure RLS.

The details

George E. Anastassov, the CEO of Axim Biotechnologies, reported that they are thrilled to be able to deal with an Israeli CRO to perform a pre-and a clinical POC trial for this unmet medical need problem. Israel is advancing in aspect of clinical cannabinoid research and they are thankful for having this chance. Restless Leg Syndrome is a common condition impacting between 3.9% to 14.3% of the U.S. population.

The accessible treatments are not extremely effective and often lead in grave side effects. Anastassov reported that they expect their proprietary treatment modality using gabapentin and cannabinoids in functional chewing gum will show to be effective in lessening the indications of RLS.

Restless leg syndrome, also termed as Willis–Ekbom Disorder, is a condition linked with nocturnal sensorimotor indications, or nocturnal spasms of the muscles of the lesser extremities, that can lead in notable sleep disruption and severe pain. It is a common condition, impacting a projected 3.9% to 14.3% of the U.S. population. RLS can adversely affect a person’s quality of life across numerous domains, such as daytime sleepiness, lower immune function, mood, stress and decreased general health.

In the last trading session, the stock price of Axim declined 0.53% to close the week at $8.16. The decline came at a share volume of 9,116 compared to average share volume of 21,909. After the recent decline, the market cap of firm now stands around $429 million.

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