NEW YORK, July 30, 2019 (GLOBE NEWSWIRE) -- AXIM® Biotechnologies, Inc. (AXIM) (“AXIM® Biotech,” “AXIM” or “the Company”), a world leader in cannabinoid research and product development, today announced that it has launched its AXIM® Wellness division that will be focused on bringing consumers premium cannabinoid-based nutraceutical products.
AXIM® Wellness division will address the high demand for cannabinoid-based solutions worldwide through a series of patented nutraceutical products. AXIM will utilize its patent on cannabinoid-based chewing gums to build out its nutraceutical gum line, including products targeted for migraines, athletes, smoking cessation and overall wellness, as well as other oral care products, like the first-ever cannabis toothpaste and mouthwash, using both cannabidiol (CBD) and cannabigerol (CBG), in the coming months.
“We have witnessed increased interest in our nutraceutical products as the CBD industry continues to boom worldwide,” said John W. Huemoeller II, CEO of AXIM® Biotech. “By focusing resources on our nutraceutical product line through AXIM Wellness we will be able to bring products to market in high consumer impact areas such as our gum lines, oral care products and topicals. Through the growth of AXIM’s nutraceutical division, we hope to be able to self-fund many of our pharmaceutical research projects, which would uniquely position AXIM to bring further shareholder value not normally seen in the pharmaceutical industry.”
According to a recent study by Cowen & Co., revenue created by the hemp-derived CBD industry is expected to grow to $16 billion by 2025, creating a huge market opportunity for AXIM’s innovative products. AXIM’s products are all made with full-spectrum hemp oil and utilize the Company’s proprietary delivery system that allows for absorption through the oral mucosa and bypasses metabolism in the liver, which is more effective than commonly used isolate powder and provides more effective treatment while requiring a lower dosage.
In addition to selling AXIM® Wellness products online and through select retailers and distributors, the Company will license its patents to carefully vetted companies under agreement and offer the products in large purchase orders under a white label.
About AXIM® Biotechnologies
AXIM® Biotechnologies, Inc. (AXIM) is a world leader in the research and development of cannabinoid-based pharmaceutical and nutraceutical products. Along with building a robust intellectual property portfolio, AXIM is focused on clinical development programs that bring more efficacy and/or lower side effects than existing alternatives and require small to medium budgets and timelines to bring to market which presents a high added-value to the pharmaceutical field.
AXIM's flagship product, MedChew® with dronabinol, is planned to undergo a bioequivalence study in the near future to fast track through FDA as an alternative to approved Marinol. For more information, please visit www.AXIMBiotech.com.
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