AXIM Biotech Enters Term Sheet Agreement With US API Company to Develop Bioequivalent Product to Marinol
AXIM® Biotechnologies, Inc. (AXIM® Biotech) (OTCQB:AXIM), a world leader in cannabinoid research and development, announced that it has entered into a Term Sheet Agreement with a U.S.-based controlled-substances API (Active Pharmaceutical Ingredient) production company to develop a dronabinol-based functional, controlled-release chewing gum product based on AXIM IP and technology. The new dronabinol chewing gum product will be bioequivalent to Marinol®, and used to help treat patients with chemotherapy induced nausea and vomiting and AIDS patients experiencing appetite and weight loss. Since its market introductions, Marinol® remains the only FDA approved cannabis-based drug available in the US.
In its current form, Marinol is delivered through a gel capsule where 90% of the dronabinol is metabolized into 11-OH-THC due to the first-pass (liver) metabolism. This causes significant side effects for patients including impaired thinking and other adverse reactions. AXIM’s patented control-release chewing gum largely bypasses the first pass metabolism in the liver and results in decreased side effects for patients.
AXIM will work with this API-manufacturing company in the development of the Marinol bioequivalent chewing gum. The company will supply AXIM with the synthetic dronabinol (delta-9-THC) for use in these trials. AXIM will then conduct a bioequivalency study. Following the completion of the study, AXIM will seek FDA approval to bring this chewing gum product to market.
AXIM® Biotechnologies, Inc. (OTC:AXIM) focuses on the research, development and production of cannabis-based pharmaceutical, nutraceutical and cosmetic products. Our flagship products include CanChew®, a CBD-based controlled release chewing gum, and MedChew Rx, a combination CBD/THC gum that is undergoing clinical trials for the treatment of pain and spasticity associated with multiple sclerosis. We prioritize the well-being of our customers while embracing a solid fiscal strategy.
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