AXIM Biotechnologies (OTC:AXIM) secured funding to continue its trials and cannabinoid research.
As quoted in the press release:
The Company has secured $4 million of institutional funding to further advance its clinical trials for the treatment of Irritable Bowel Syndrome (IBS), pain and spasticity in Multiple Sclerosis (MS), and to continue a bio-equivalency study on creating an alternative to Marinol® using the company’s patented chewing-gum delivery system.
“This financing enables us to continue to build on the progress we have made with our cannabinoid clinical development program for indications where there are currently no effective treatments,” said George Anastassov, MD, DDS, MBA, and Chief Executive Officer of AXIM. “It is encouraging to see that investors recognize the potential of our robust clinical development pipeline. We are now better positioned to execute on cannabinoid research and commercialization.”