Medical Marijuana, Inc. (OTC: MJNA), the first-ever publicly traded cannabis company in the United States, announced that its subsidiary Kannaway®, the first hemp lifestyle network to offer cannabidiol (CBD) hemp botanical products, has placed a significant initial purchase order (“PO”) from major investment company AXIM® Biotechnologies (OTC: AXIM) (“AXIM”), a world leader in cannabinoid research and development, for its nutraceutical chewing gum product.
“Kannaway® is proud to partner with such a well-known and scientifically driven organization to bring our customers a superior and innovative product that provides them with a quick, pre-dosed way to promote overall wellness through the use of CBD,”
said Kannaway® CEO Blake Schroeder.
“We plan to build a whole brand around the nutraceutical product and look forward to continuing our partnership in the future after a successful launch.”
The product sold under this purchase order is the company’s nutraceutical cannabinoid-based chewing gum containing 50 mg of full-spectrum hemp oil and 10 mg of CBD per piece.
The product is made using AXIM’s proprietary microencapsulation methodology and utilizes the company’s patented chewing gum delivery system that allows the CBD to enter the bloodstream more quickly and efficiently through absorption through the buccal cavity, increasing the bioavailability of the CBD.
“We are excited to work with such a large and well-respected direct-selling company such as Kannaway® and to bring our nutraceutical chewing gum product to their worldwide audience,”
AXIM CEO John W. Huemoeller said.
“This is our largest initial order from a singular customer to date and it presents a whole new revenue opportunity for the nutraceutical division of AXIM. Our flagship nutraceutical chewing gum product utilizes AXIM’s patented chewing gum delivery system for cannabinoids that creates a high-quality and user-friendly experience that we are confident Kannaway® consumers will enjoy and be able to distribute through their networks successfully.”
About AXIM® Biotechnologies
AXIM® Biotechnologies, Inc. (AXIM) is a world leader in the research and development of cannabinoid-based pharmaceutical products. Along with building a robust intellectual property portfolio, AXIM is focused on clinical development programs that bring more efficacy and/or lower side effects than existing alternatives and require small to medium budgets and timelines to bring to market which presents a high added-value to the pharmaceutical field.
AXIM’s flagship products include MedChew® with Dronabinol, which will undergo a bioequivalence study to fast track through FDA as an alternative to approved Marinol; CanChew® RL, which will undergo clinical trials for treatment of restless leg syndrome. And MedChew Rx®, a combination cannabidiol (CBD)/tetrahydrocannabinol (THC) functional, controlled-release chewing gum that will undergo clinical trials for the treatment of pain and spasticity associated with Multiple Sclerosis (MS).
For more information, please visit www.AXIMBiotech.com.
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