(Image Credit - Amy Elyse via Flickr)

AXIM Biotechnologies Inc. (OTC:AXIM) just announced that the company has entered into a clinical study agreement with the University of British Columbia to begin a clinical trial to study the effects of its cannabidiol (CBD) chewing gum on drug-induced psychosis in adult patients.

Related: AXIM Files Patent on Cannabinoid Gum For Opioid Addiction

Drug-induced psychosis describes 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 (not necessarily drug-related) in their lifetimes.

In regard to the study, the University will work with their internal ethics board, as well as with Health Canada to design and exceute trials to test the efficacy of AXIM’s 50mg CBD chewing gum product in the treatment of drug-related psychosis.

Related: What You Need to Know About Axim's IBS & MS Clinical Trials

Management Commentary

AXIM Biotech's CEO, George E. Anastassov, MD, DDS, MBA

“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. 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.”

Market Reaction

In early trading Wednesday, shares of AXIM Biotech are falling roughly 1% on light trading volume. Year-to-date, AXIM is down more than 15%.

Conclusion

For more information on AXIM Biotechnologies, Inc., be sure to check out the company's marijuana stock profile in our biotech marijuana stock database.

Be sure to subscribe to one or more of our free newsletters so you never miss an important marijuana update.

Don't be a stranger, connect with The Daily Marijuana Observer on Facebook, Twitter, StockTwits and Instagram!

D/M/O

Disclaimer



Investing in nanocap, microcap, and small cap stocks is highly speculative. The publishers of DailyMarijuanaObserver.com are not registered as Investment Advisors or Broker-Dealers in any jurisdiction whatsoever. The information contained on DailyMarijuanaObserver.com (“this site”) has been prepared solely for informational purposes. Nothing on the site is an offer or solicitation to buy or sell securities. Investors should seek financial advice regarding the appropriateness of investing in any securities mentioned from their financial advisor.