Medical Marijuana, Inc. investment company AXIM® Biotechnologies announced this week that the United States Patent and Trademark Office (USPTO) issued a Notice of Allowance for U.S. Application Serial Number 9,433,601, a patent owned by the company that claims the use of all cannabinoids (botanical and synthetic) in cannabinoid-infused controlled-release chewing gum products.
AXIM® Biotechnologies filed this patent application in April 2015. The Notice of Allowance was issued after the USPTO made the determination that the patent can be granted from the application. This most recent patent covers the inclusion of all cannabinoids, including Tetrahydrocannabinol (THC), in a chewing gum controlled-release delivery system, giving the company exclusive rights to incorporate cannabinoids into the company’s chewing gum products.
The company’s new patent is an extension of AXIM® Biotechnologies’ original patent for chewing gum as a delivery method for cannabidiol (CBD). Prior to this new allowance, AXIM®’s patent 9,023,322 only claimed gum products as a delivery mechanism for CBD. With the new extension, AXIM® can develop products containing the full-range of available cannabinoids including THC, the most commonly known cannabinoid.
“This new patent extension is a huge step forward for AXIM® as it now encompasses an additional 85+ cannabinoids, as well as the unlimited combinations of these therapeutic compounds,” Medical Marijuana, Inc. CEO Dr. Stuart Titus said, “This is strategically important for AXIM® as the company searches for answers to specific disease indications – utilizing both botanical and/or synthetic cannabinoid formulations. No other group may introduce a rival cannabinoid product with this delivery mechanism.”
Using their patents, AXIM® Biotech has developed several unique cannabinoid-based chewing gum products exclusive to their company.
AXIM®’s CBD-only Canchew® hemp oil supplements are legal to purchase and ship wherever CBD hemp oil products are available. CanChew® is a natural hemp-derived CBD chewing gum with a specialized oral mucosal absorbance delivery system. AXIM® Biotech holds the exclusive rights to market and distribute CanChew® CBD-infused chewing gum globally.
Worldwide, the yearly chewing gum market is valued at $25.8 billion, with $3.9 billion in sales coming from North America. Meanwhile, combined sales of cannabinoid-infused products are expected to reach $2.7 billion a year. By combining these two prevalent markets, AXIM® Biotechnologies hopes to tap into a vast and growing worldwide market for its cannabinoid-based chewing gum products.
In addition, AXIM® is preparing clinical trials for MedChew® Rx, its combination CBD/THC gum,
for the treatment of pain and spasticity associated with multiple sclerosis. The market size for MedChew® Rx is estimated at $4.8 billion. MedChew® Rx is on track to be fully registered by the EMA and FDA and distributed throughout the European Union and United States markets as early as 2018.
Recently, AXIM® has also developed their new CanChew® Plus CBD-infused gum, which features an improved delivery system and doses of either 10 mg or 30mg of CBD. CanChew Plus™ is set to begin clinical trials in the EU for IBS.
Finally, AXIM® Biotechnologies has created CanChew Rx™ using pharmaceutical-grade, 99.9% pure CBD crystals, extracted and manufactured with company-owned intellectual property and containing 10, 30, 50, 100, and 150 mg of CBD in microencapsulated form for significantly increased bioavailability.
“AXIM® is emerging as a leader in the field of cannabinoid therapeutics and will soon have research published from preclinical trials,” Dr. Titus remarked. “We could not be more excited with the progress and developments made – the years of hard work and effort by the AXIM® team members are really starting to pay dividends. As investors, we look forward to continuing to support AXIM® and its future growth.”
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