NEW YORK, Aug. 02, 2017 (GLOBE NEWSWIRE) -- AXIM Biotechnologies, Inc. (AXIM Biotech) (OTC:AXIM), a world leader in cannabinoid research and development, today announced that it has entered into a Clinical Study Agreement (CSA) with the University of British Columbia in Canada to begin a clinical trial with its CanChew Plus® cannabidiol (CBD) chewing gum product to treat drug-induced psychosis in adult patients.
The University will work with Health Canada and their own ethics board to design the trial, which will be conducted at the University of British Columbia, Canada, and will demonstrate the efficacy of AXIM’s chewing gum product composed of 50mg CBD to treat drug-related psychosis.
“This is another major milestone for AXIM, as we embark on this new clinical program on patients suffering from drug-related psychosis using innovative delivery mechanisms containing cannabinoids,” said George E. Anastassov, MD, DDS, MBA and Chief Executive Officer of AXIM Biotech. “We are excited to be collaborating with the University of British Columbia, one of Canada’s top leading academic institutions, to determine if our CBD chewing gum product will prove to be effective in treating patients for this unmet medical need condition.”
Drug-related psychosis, also known as substance-induced psychotic disorder, is any psychotic episode that is related to the abuse of an intoxicant. According to the National Alliance on Mental Illness, about 3 in every 100 people will experience at least one episode of psychosis in their lifetimes.
The University of British Columbia is a global center for research and teaching, consistently ranked among the 40 best universities in the world, and top three in Canada.
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, CanChew+ containing 50 mg of CBD undergoing clinical trials in patients with IBS 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. For more information, please visit 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 Axim Biotechnologies, Inc. to be materially different from the statements made herein.
AXIM® Biotechnologies does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA).
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