AXIM Biotechnologies Inc. (OTC: AXIM), a cannabinoid research and development company, has been issued a Notice of Allowance for a patent from the U.S. Patent and Trademark Office for a topical cream containing cannabinoids for the treatment of atopic dermatitis (eczema).
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What Happened
The Notice of Allowance was granted for a patent application Axim filed Aug. 21, 2018. The cream includes two cannabinoids: cannabidiol (CBD) and cannabigerol (CBG), which were proven to provide anti-inflammatory and pain relief benefits.
It uses the company's proprietary formulation for relief of the itching, pain and inflammation that often accompany atopic dermatitis.
Why It's Important
Axim said it expects that its topical cream will be one of the first CBG products available on the market — and it won't require a prescription. With this product, AXIM expects to enter an atopic dermatitis market that is valued at $5 billion.
What's Next
Axim, which counts Medical Marijuana Inc (OTC: MJNA) among its largest investors, said it expects to introduce the topical cream products to the market sometime in the third quarter of 2019, "likely delivered direct-to-consumer," CEO John Huemoeller told Benzinga.
The company has a number of other products in its pipeline, including a toothpaste containing CBD and CBG that is ikely to be available in the third quarter as well, Huemoeller he said.
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