SOURCE: Medical Marijuana, Inc.

CMW Media

November 16, 2016 09:15 ET

U.S. Patent Allowance Granted to Medical Marijuana, Inc.'s Investment AXIM® Biotech for Use of All Cannabinoids in Its Controlled Release Chewing Gum

Allows Award-Winning Cannabinoid Release Chewing Gum Products to be Used as Delivery Mechanism for All Cannabinoids, Including THC, CBD, CBG, etc.

SAN DIEGO, CA--(Marketwired - November 16, 2016) - Medical Marijuana, Inc. (OTC PINK: MJNA) announced today that its major investment AXIM® Biotechnologies, Inc. (AXIM® Biotech) (OTCQB: AXIM), a world leader in hemp cannabinoid research and development, today announced that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for U.S. Application Serial Number 9,433,601, a patent that claims the use of all cannabinoids in cannabinoid-containing controlled-release chewing gum products. A Notice of Allowance is issued after the USPTO makes a determination that a patent can be granted from the application, filed in April 2015. This patent covers the inclusion of all cannabinoids (both natural and synthetic) in a chewing gum delivery system, including Tetrahydrocannabinol (THC), all of which may be incorporated in the Company's chewing gum products.

This new patent is an extension of AXIM® Biotech's patent for chewing gum as delivery methods for cannabidiol (Chewing Gum Compositions Comprising Cannabinoids). Prior to this new allowance, Patent 9,023,322 only claimed gum products as a delivery mechanism for cannabidiol (CBD), a well-known cannabinoid.

"We congratulate the AXIM team on receiving this new patent, another major milestone in the Company's continued efforts to research new solutions using cannabinoid-based drugs," said Dr. Stuart Titus, CEO of Medical Marijuana, Inc.

"This patent will enable AXIM to include any of the at least 85 different cannabinoid compounds found in the cannabis plant, including CBD and THC, into its multiple cannabinoid controlled-release chewing gum products," added Dr. Titus. "As investors in AXIM, we are enthusiastic about how the Company continues to move forward as a leader in cannabinoid research and development."

AXIM® Biotech developed the patents it now owns for chewing gum as a delivery method for cannabinoids into two separate products. Its CBD-only Canchew® gum is marketed and is legal to purchase wherever CBD hemp oil products are sold. AXIM® Biotech holds the exclusive rights to market and distribute CanChew® Gum globally. CanChew® is a botanical hemp-derived CBD chewing gum with a unique oral mucosal absorbance delivery system. Features listed on the CanChew® website include:

  • Non-habit forming
  • No prescription needed
  • Available in all 50 states
  • Great-tasting mint gum has no artificial sweeteners or preservatives
  • Non-GMO, gluten free, vegan and kosher

In addition, AXIM® will start clinical trials for its combination CBD/THC gum, MedChew® Rx, for the treatment of pain and spasticity associated with multiple sclerosis. Directly compared to a sublingually delivered cannabis-based product currently on the market for MS, the estimated market size for MedChew® Rx is $4.8 billion USD. MedChew® Rx is on track to be fully registered by the EMA and FDA.

AXIM has also developed CanChew Plus™ CBD containing gum with improved delivery system and doses of 10 mg of CBD and 30mg of CBD which is set to begin clinical trials in the EU. Besides these, AXIM has developed CanChew Rx™, which is based on pharmaceutical-grade, 99.9% pure CBD crystals, extracted and manufactured based on company IPs and containing 10, 30, 50, 100 and 150 mg of CBD in microencapsulated form (AXIM IP) for significantly increased bioavailability of the Active Pharmaceutical Ingredient.

Another AXIM® Biotech patent-pending cannabis innovation in clinical trials is AX-1602. The first of its kind, AX-1602 contains CBG (cannabigerol) and other cannabinoids as a treatment for psoriasis and atopic dermatitis.

AXIM® Biotech's core belief is responsibility for environmental stewardship combined with development of innovative products to address conditions with no currently known effective treatment including: Parkinson's disease, Alzheimer's disease/dementia, ADHD (attention deficit hyperactivity disorder), PTSD, autism, MS, spasticity, pain, RLS (restless leg syndrome), glaucoma, IBD, IBS and Crohn's disease.

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.

To see Medical Marijuana, Inc.'s video statement, click here. Shareholders are also encouraged to visit the Medical Marijuana, Inc. Shop for discounted products.

About AXIM

AXIM® Biotechnologies, Inc. (OTCQB: 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.

FORWARD-LOOKING DISCLAIMER

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.

LEGAL DISCLOSURE

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.

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