It was a straight upward journey for Medical Marijuana Inc (OTCMKTS:MJNA), after the company disclosed its investment in Axim Biotechnologies Inc (OTCMKTS:AXIM), which is regarded as a premier biotechnology innovator. The company released a note informing stakeholders that it owns 14,943,650 shares and 500,000 shares of common stock and preference stock respectively in AXIM.
Revealed investment in AXIM
Medical Marijuana Inc (OTCMKTS:MJNA)’s President and CEO Stuart W. Titus was excited to share the news of the company’s investment in AXIM. He took the opportunity to make the concerned investors aware about the hemp-based innovations that AXIM is pursuing. He added that AXIM is working towards developing a patented mechanism for delivery of cannabinoids.
Meanwhile, AXIM’s MD, DDS, MBA and CEO George E. Anastassov highlighted how a cannabis plant contains potential to help innovation and give rise to revolutionary products. He told that the company has recognized several benefits attached with cannabinoids based oral health products, which is why, they have filed applications to protect their IP.
Pursuing abundant opportunities in pharmaceutical sector
Further, Anastassov proudly said that the company has become the first license recipient for cannabinoid chewing gum. He noted that the event has opened two doors of opportunities for the company, which is to venture into food development and distribution with CanChew Plus and secondly into pharmaceutical development with MedChew RX. AXIM sees limitless opportunities in the pharmaceutical sector, which is expected to be worth $1.6 trillion by the year 2020. The company is targeting treatment for diseases such as Alzheimer’s, autism, Parkinson’s disease, glaucoma, IBD, IBS and many more through innovative products.
The news of Medical Marijuana Inc (OTCMKTS:MJNA)’s investment in AXIM was taken positively by the stakeholders. This is evidenced from the stock’s ascent by nearly 4.50% to $0.0700 during the previous day as 4.80 million shares traded hands.