• US stock market daily report (August 17, 2015, Monday)

    According to the Mayo Clinic, while there is no cure for multiple sclerosis (MS), current treatments work to speed recovery from attacks, slow the disease’s progression and manage symptoms. Common treatments used to manage MS symptoms include physical therapy, muscle relaxants and medications to reduce fatigue, depression and pain. According to the National Multiple Sclerosis Society, more than 2.3 million people globally, are affected by MS.

    The U.S. Food and Drug Administration (FDA) have yet to approve any cannabis products however, they did approve Marinol which contains dronabinol, a synthesized form of delta-9- tetrahydrocannabinol (THC) for anorexia, chemotherapy and AIDS patients. On their website, the FDA notes they will continue to facilitate the work of companies interested in appropriately bringing safe, effective and quality products to market, including scientifically-based research concerning the medicinal uses of marijuana.

    AXIM Biotechnologies, Inc. (AXIM - OTC BB) announced the launch of clinical trials on humans for medical cannabis chewing gum, MedChew RX, as a treatment for MS. The gum contains 5 milligrams of cannabidiol, a non-psychoactive component of cannabis and 5 milligrams of THC, a psychoactive cannabinoid. Reportedly, the act of chewing helps preserve cognition and memory for patients, as well as promoting overall oral health. Phase 1 trial of MedChew RX gum is slated to begin in the second quarter of 2016.

    George Anastassov, chief executive of AXIM, said in a statement about medical marijuana chewing gum, “should allow for predictable and controlled release of the active ingredients.” The gum should not be socially stigmatizing, should have a pleasant taste, consistency and have no undesirable side effects. Anastassov added, “Chewing gum meets all these criteria.”

    Anastassov says while current trials of MedChew RX gum are only for MS patients, the pharmaceutical company hopes to expand the range of conditions it can be prescribed for.

    If MedChew RX gum is approved by the FDA, it could be available in all 50 states, even if the state has not legalized medical marijuana. Anastassov says, “That’s why we’re going through the FDA. There’s no ambiguity as to where it’s legal.”

    Anastassov says, “For multiple sclerosis, the market for treatment is quite large. Eventually, we will try to enlarge the conditions for this medication, such as pain.”

    Cannabidiol is a major phytocannabinoid which accounts for up to 40% of the plant's extract. An effective way to treat patients with degenerative diseases is the psychoactive component of THC, as well as the medicinal properties of cannabidiol which can be used to treat neurological conditions such as epilepsy.

    CanChew, is a cannabinoid chewing gum product AXIM already has on the market however, it does not contain THC and does not offer any medical claims.

    Contributed by Millennium Traders
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