Sometimes the battle of getting products to market involves cutting through government red tape.
Thursday, New York-based AXIM Biotechnologies Inc. (OTC:AXIM) won such a battle with news that the United States Patent and Trademark Office has issued the Company a new Notice of Allowance for a patent on a suppository composition comprising cannabinoids.
This allowance builds on a similar patent AXIM won in October 2018. Cannabinoids covered under the patent include cannabidiol, cannabigerol, cannabinol, tetrahydrocannabinol, cannabidivarin, and tetrahydrocannabivarin, other cannabinoids, or a combination of all or some of these.
The Company’s suppository composition is formulated for easy absorption through the mucosal membrane, allowing for useful administration of cannabinoids in patients with nausea, vomiting, other conditions related to swallowing or conditions wherein suppository administration is required.
Exulted CEO John Huemoeller, “AXIM has been recognized as an industry leader for its exceptionally valuable cannabinoid-based intellectual property portfolio and we are excited to add this patent to our robust pipeline of eight patents and 13 pending patent applications.
“With this patent, we look forward to continuing our presence in the $771.13-billion global pain market while bringing much-needed options to millions of people across the world.”
The suppository composition is formulated for easy absorption through the mucosal membrane, allowing for useful administration of cannabinoids in patients with nausea, vomiting, other conditions related to swallowing or conditions wherein suppository administration is required.
AXIM shares zoomed six cents, or 16.7%, to 42 cents, on volume of 110,000 shares.
