NEW YORK, March 7, 2017 /CNW/ -- Medical Marijuana, Inc. (OTC: 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 enrolled 40 patients and commenced its Phase II clinical trial for the treatment of irritable bowel syndrome (IBS) with the company's CanChew Plus® CBD gum. The study is being conducted by Renger Witkamp, Professor and Chair in Nutrition and Pharmacology, at Wageningen University in the Netherlands.
Selected from a pool of over 400 patients, 40 trial patients aged 18-65 will be subject to a randomized, double-blind, cross-over trial of 8 weeks. Patients will receive a maximum 6 chewing gums per day, either containing 50 mg of cannabidiol per chewing gum in case of the CanChew chewing gum, or a placebo chewing gum.
Final data collection for primary outcome measure is estimated to complete in April 2017, with the full study estimated to complete in June 2017.
"Successfully enrolling patients in this IBS clinical trial, which marks the first advancement in cannabinoid research for treatment of IBS in medical history, is an exciting new milestone for AXIM's clinical development program," said Medical Marijuana, Inc. CEO Dr. Stuart Titus. "With the global treatment market for IBS estimated to grow in value to $1.5 billion by 2023, AXIM's efforts continue to push forward with cutting-edge solutions to help people suffering from some of the most common gastrointestinal disorders, not only for IBS, but for Irritable Bowel Disease and Ulcerative Colitis as well."
For more information on the AXIM's IBS trial, please visit: https://clinicaltrials.gov/ct2/show/NCT03003260
IBS is the most common functional gastrointestinal disorder with a prevalence worldwide ranging from 9-23% and results in around 12% of all physician visits in US. Although the condition is not life-threatening, it strongly impairs quality of life and up to now there is no cure or real treatment for IBS. The objective of the study is to investigate whether the use of a CBD-containing CanChew Plus® chewing gum can contribute to a reduction of IBS symptoms and an improvement of perceived patients' wellbeing.
AXIM® Biotechnologies, Inc. (OTC: AXIM) focuses on the research, development and production of cannabis-based pharmaceutical, nutraceutical and cosmetic products. Its flagship products include CanChew Plus®, a CBD-based controlled release chewing gum, and MedChew Rx®; a combination CBD/THC gum that will be undergoing clinical trials for the treatment of pain and spasticity associated with multiple sclerosis. AXIM prioritizes the well-being of its customers while embracing a solid fiscal strategy. Medical Marijuana, Inc. is a major investor in AXIM. For more information, please visit www.AXIMBiotech.com.
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.
FORWARD-LOOKING DISCLAIMER AND DISCLOSURES
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. The statements in this press release have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease. The Company does not sell or distribute any products that are in violation of the United States Controlled Substances Act. The Company does sell and distribute hemp-based products.
SOURCE Medical Marijuana, Inc.