AXIM Biotechnologies has secured approval from the Medical Ethical Committee (METC) of Wageningen University in the Netherlands to commence a trial on patients suffering from irritable bowel syndrome (IBS) with its product CanChew Plus CBD-containing chewing gum.
AXIM Biotechnologies is the major investment company of Medical Marijuana, a cannabis portfolio company.
Medical Marijuana CEO Dr Stuart Titus said: "We congratulate AXIM on yet another step forward toward full clinical trials on cannabis-based treatments.
"With the global treatment market for irritable bowel syndrome estimated to grow in value to $1.5 billion by 2023, cannabis-based products like CanChew Plus can provide viable solutions for patients suffering from some of the most common of functional gastrointestinal disorders.
"It is the goal of our family of companies and for AXIM to help people suffering from various gastrointestinal disorders with no effective remedies such as IBD and Crohn's disease. Positive outcomes from these type of studies can help in the immediate need to enter trials for inflammatory bowel disease (IBD) and Crohn's disease."
METC at Wageningen University is an institutional approval board. It is compliant with the Ethical Principles for Medical Research adopted at the 18th World Medical Association (WMA) General Assembly in Helsinki, Finland, in June 1964.
Wageningen University is an education and research institute in the field of life sciences, agricultural and environmental science.
The university in the Netherlands focuses on the theme of healthy food and a healthy living environment.