SAN DIEGO, Jan. 19, 2017 /PRNewswire/ -- Medical Marijuana, Inc. (MJNA), the first-ever publicly traded cannabis company in the United States, announced today that its major investment company AXIM® Biotechnologies, Inc. (AXIM® Biotech) (AXIM) has entered clinical trials at Wageningen University in the Netherlands for treatment of irritable bowel syndrome (IBS) with AXIM's CanChew Plus® cannabidiol (CBD) gum. IBS is the most common disorder diagnosed by gastroenterologists and accounts for up to 12% of total visits to primary care providers, accumulating between 2.4 and 3.5 million annual physician visits for the disease in the United States.
AXIM recently announced that the Company had received approval from the Medical Ethical Committee (METC) at Wageningen University for the trial using controlled-release hemp oil CBD chewing gum with patients suffering from IBS. The gum as well as matching placebo gums will be given to trial participants. AXIM will use gum containing 50mg of CBD per serving during the trial and patients will be allowed up to 6 chewing gums a day to control their stomach cramps, bloating, pain and other symptoms. The trial will study the outcome of pain reduction in patients taking the gum containing CBD versus the placebo and record general relief and change in stool frequency.
"We are excited to see that AXIM has reached another milestone in its clinical development program," said Dr. Stuart Titus, CEO of Medical Marijuana, Inc. "IBS is one of the most common disorders in the world affecting up to 15% of the global population, with no real treatment options available. This is the first advancement in cannabinoid research for treatment of IBS in medical history and gives a clear example of how far ahead AXIM is in its clinical development programs."
"With 35% to 40% of individuals who report IBS in the community being male and between 60% and 65% being female, the cost to society in terms of direct medical expenses and indirect costs associated with loss of productivity and work absenteeism tied to IBS is considerable, estimated from $21 billion or more," added Dr. Titus.
The trial will include a group of 40 patients, age 18-65, diagnosed with IBS according to ROME III criteria to determine the effectiveness of CanChew Plus® in alleviating IBS symptoms.
With positive outcome from the IBS clinical trial, AXIM will be ready to proceed immediately with further trials on its pharmaceutical grade CanChew Rx™ products for treat of inflammatory bowel disease (IBD); Ulcerative colitis and Crohn's disease. Wageningen University is a world-class education and research institute in the field of life sciences, agricultural and environmental science, and the only university in the Netherlands to focus on the theme of "healthy food and living environment." According to the Times Higher Education World University Rankings, Wageningen is the best university in the Netherlands and No. 1 worldwide in agriculture and forestry for 2016 on the QS World University Rankings.
About Medical Marijuana, Inc.
Our mission is to be the premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally-friendly, economically sustainable businesses, while increasing shareholder value. For details on Medical Marijuana, Inc.'s portfolio and investment companies, visit www.medicalmarijuanainc.com.
AXIM® Biotechnologies, Inc. (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. Medical Marijuana, Inc. is a major investor in AXIM. For more information, visit www.AXIMBiotech.com.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana, Inc. to be materially different from the statements made herein.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease.
Medical Marijuana Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA). These companies do grow, sell, and distribute hemp-based products and are involved with the federally legal distribution of medical marijuana-based products within certain international markets. Cannabidiol is a natural constituent of hemp oil.