NEW YORK, Feb. 06, 2018 (GLOBE NEWSWIRE) -- AXIM® Biotechnologies, Inc. (OTC:AXIM) (“AXIM”), the world leader in cannabinoid research and development, announced today that it has entered into a binding distribution agreement for its proprietary cannabinoid-based nutraceutical chewing gum product CanChew+® (“product”) to be distributed throughout the country of Thailand.
The non-exclusive agreement, which was reached on January 24, 2018, and will remain in effect for one year, retains AXIM as the sole owner and manufacturer of the product while assigning trademark and likeness rights to the distributor specifically for the country of Thailand. The agreement sets clear financial obligations for the distributor including a minimum purchase and upfront production costs.
“We are happy to see the attention of a worldwide audience on our nutraceutical product line,” said George E. Anastassov, MD, DDS, MBA, and Chief Executive Officer of AXIM Biotech. “This distribution agreement marks a significant milestone in AXIM’s international expansion and reach. Thailand is an important market for us and will represent our first major step toward establishing a brand presence in Asia.”
Thailand, with an estimated population of more than 68 million, has been pushing toward access to cannabinoid-based products. As the Company continues its clinical development program on cannabinoid-based pharmaceutical treatments, it will make acceptance of the benefits of these nutraceutical products more possible.
AXIM® Biotechnologies, Inc. (AXIM) focuses on the research, development and production of cannabinoid-based pharmaceutical, nutraceutical and cosmetic products. Our flagship products include CanChew+®, a CBD-based controlled release chewing gum, CanChew+ 50®, containing 50 mg of CBD undergoing clinical trials in patients with IBS and MedChew Rx®, a combination CBD/THC gum that will undergo clinical trials for the treatment of pain and spasticity associated with multiple sclerosis. AXIM has several products developed or in developmental stage for treatment and/ or prevention of multiple conditions and symptoms. We prioritize the well-being of our customers while embracing a solid fiscal strategy. For more information, please visit AXIMBiotech.com.
This 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.
AXIM® Biotechnologies does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA).