AXIM® Biotechnologies Enters Canadian Market Through New Exclusive Distribution and License Agreement With Revive Therapeuti...
August 27 2018 - 9:00AM
AXIM® Biotechnologies, Inc. (“AXIM® Biotech or the “Company”) (OTC:
AXIM), a world leader in cannabinoid research and development,
today announced that it has signed an exclusive distribution and
license agreement with Revive Therapeutics Ltd. (“Revive”) (TSX
VENTURE: RVV) (OTCQB: RVVTF) (FSE:31R), a specialty cannabis
company focused on the research, development and commercialization
of novel cannabinoid-based products and therapies, to begin selling
the Company’s proprietary, unique cannabidiol (CBD)-containing
nutraceutical product throughout the rapidly expanding Canadian
cannabis market.
The agreement defines a relationship where Revive will seek
regulatory approval for AXIM® Biotech’s proprietary,
controlled-release functional chewing gum that contains
full-spectrum hemp oil-derived CBD. Under the terms of the
agreement, Revive will have a minimum purchase amount annually,
which increases each year for the term of the agreement.
“We have been working closely with Revive, our new distribution
partner, to develop the best position for AXIM and Revive to
successfully enter the emerging, robust market in Canada and meet
the increased demand for high-quality CBD products,” said George E.
Anastassov, MD, DDS, MBA and Chief Executive Officer of AXIM®
Biotechnologies. “We are excited to bring our nutraceutical product
offering to the Canadian market and hope this will create a new
revenue stream for both companies and fill a void in quality,
tested and proven CBD products for consumers there.”
According to Deloitte, the legal cannabis industry in Canada has
the potential to generate over $4 billion in sales within its first
year. Deloitte also projects that total estimated consumer spend
could surge by as much as 58%.
In its natural form, cannabinoids are lipophilic, not
water-soluble and tend to stick to the chewing gum matrix,
therefore diminishing effective release into the bloodstream.
Microencapsulation renders cannabinoids soluble and dramatically
increases the bioavailability of CBD, while largely bypassing the
first pass hepatic metabolism.
To learn more about AXIM, please visit the company’s website:
http://aximbiotech.com/.
About AXIM® Biotechnologies
AXIM® Biotechnologies, Inc. (AXIM) is an innovative biotechnology
and pharmaceutical company focusing on research, development
and production of cannabinoid-based pharmaceutical and
nutraceutical products. AXIM’s flagship products include MedChew
Rx®, a combination CBD/THC gum that will undergo clinical trials
for the treatment of pain and spasticity associated with Multiple
Sclerosis (MS); MedChew® Dronabinol which will undergo a
bioequivalence study to fast track through FDA as an alternative to
approved Marinol; and CanChew RL, which will undergo clinical
trials for treatment of restless leg syndrome. At AXIM, we
prioritize the wellbeing of our customers while embracing a solid
fiscal strategy. For more information, please
visit AXIMBiotech.com.
About Revive Therapeutics
Ltd.
Revive Therapeutics Ltd. (TSX VENTURE:RVV)(OTCQB:RVVTF) is a
specialty cannabis company focused on the research, development and
commercialization of novel cannabinoid-based products and
therapies. Additional information on Revive is available at
www.ReviveThera.com.
FORWARD-LOOKING DISCLAIMERThis 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 Axim
Biotechnologies, Inc. to be materially different from the
statements made herein.
LEGAL DISCLOSUREAXIM® Biotechnologies does not
sell or distribute any products that are in violation of the United
States Controlled Substances Act (US.CSA).
Public Relations Contact:Andrew HardChief
Executive OfficerCMW MediaP.
888-829-0070andrew.hard@cmwmedia.comwww.cmwmedia.com
Investor Relations
Contact:Investors@aximbiotech.com
Corporate Contact Info:North American
Address:45 Rockefeller Plaza, 20th Fl.New York, NY 10111, USAP. 844
294 6246
European Address:Industrieweg 40, Unit B43401
MA IJsselsteinNetherlands
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