As the race for patent filing in marijuana space becomes more volatile, Axim Biotechnologies Inc (OTCMKTS:AXIM), recently announced securing new patent grant for its cannabinoids based chewing gum products. The U.S. Patent No. 9433601 from the company is titled Chewing Gum Compositions Comprising Cannabinoids, which contains 0.1-1% cannabinoids.
The patent space surrounding medical marijuana
While the march of companies towards legalization still has a long way to go, there is no denying the fact that the patent space surrounding medical marijuana is wide open. Innography’s patent portfolio analysis tools explain that in the medical cannabis space, there are 66 U.S. patent grants along with 62 U.S. patent applications.
Axim Biotechnologies Inc- a patent-rich company
The newly issued patent to company isn’t the only one that it has. Axim Biotechnologies Inc also has U.S. Patent No. 9023322, which was issued in 2015 and used Hemp as the pharmaceutical agent. While the earlier patent only included Hemp, the newer one also includes tetrahydrocannabinol (THC).
Apart from the chewing gum products, Axim Biotechnologies Inc also works on other Hemp products, such as topical applications (like hand cream and dermatological ointments), eye drops, mouthwash, toothpaste and more. While it is dedicatedly working on the medical marijuana segment, there is no intention to dive into the recreational market, as of now.
According to AXIM Biotech CEO George Anastassov, “We deliver a system which is just as efficient as smokable cannabis without negative effects. We’re against any type of smokable material.”
The CEO stated that Axim Biotechnologies Inc is a patent-rich company and has 20 trademarks in marijuana space. What is more interesting is that none of the company’s patents in marijuana space have been rejected so far.
Protecting intellectual property paramount to Axim Biotechnologies Inc
George Anastassov stated that protecting company’s intellectual property is paramount due to several developments underway. He added, “We make sure that before we announce anything, we have IP protection.” He also feels optimistic regarding the future of medical and recreational marijuana in the U.S.