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Axim Biotechnologies Inc (OTCQB:AXIM) Issues Business Highlights

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Axim Biotechnologies Inc

Axim Biotechnologies Inc (OTCQB:AXIM) issued business highlights for Q3 2017. The company reported that it held bi-annual board meeting in the month of July, during which advisory board and management experts reviewed the firm’s clinical trial development, expanding product portfolio, and stated further proof of concept trials of cannabis based therapy for indications.

The details

Other items noted during the board meeting comprised Axim’s Biotechnologies collaborations with major academic institutions, strategic associations with pharmaceutical distributors and manufacturers for drug development and licensing, and progress on vertical integration with the production facility in Almere. Axim completed production of its second-gen nutraceutical functional chewing gum, named CanChew+® 10 mg with industrial hemp based Hemp. It finalized distribution deals for MedChew® Rx and CanChew+® 10 mg with Rafa Pharmaceuticals in Israel.

In the imminent 12-18 months, Axim Biotechnologies intends to accomplish numerous clinical programs. It plans to complete the open-label Phase 2 clinical study with CanChew+® 50 mg Cannabidiol in people struggling with IBS in the Netherlands. The company plans to close Phase I-III clinical study with MedChew® Rx in as many as four independent academic centers targeting chronic pain and spasticity in subjects with multiple sclerosis.

Axim Biotechnologies plans to complete bioequivalence study of its chewing gum-based functional delivery arrangement of Marinol to help cure people with CINV and AIDS patients facing appetite and weight loss. It wants to advanced enhanced topical system for targeting psoriasis, and vitiligo and atopic dermatitis with an enhanced delivery platform. The company is also seeking to begin proof of concept trial for treatment of people with post-haerpetic neuralgia.

In the last trading session, the stock price of Axim Biotechnologies jumped more than 5% to close the day at $7.09. The gains came at a share volume of 17,365 compared to average share volume of 14,749. After the recent jump, the market cap of firm was noted at around $386 million.

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