MJNA and AXIM Partner on Water-Soluble Cannabinoid Patent for Enhanced Treatments

Medical Marijuana, Inc. (MJNA) has forged a strategic alliance with AXIM Biotechnologies, Inc. (AXIM) to research and develop applications for AXIM's groundbreaking patent for water-soluble cannabinoids. At the heart of this partnership is AXIM's U.S. Patent No. 11,542,226 B2, titled 'Polyfunctional Cannabinoids,' which addresses a major limitation of traditional cannabinoids: their poor water solubility that hinders the body's absorption. As part of the transaction, AXIM has assigned a 50% right, title, and economic interest in this patent and all associated intellectual property to MJNA for $600,000, paid via a secured promissory note. This assignment grants MJNA rights to existing and future patents, licensing and enforcement proceeds, and claims for past infringement. Concurrently, the companies entered into a Consulting Agreement where AXIM will provide research and development services focused on commercializing the patent technology, with MJNA paying AXIM a monthly fee of $62,500 for an initial one-year term.

The partnership is poised to accelerate the development of enhanced cannabinoid-based treatments, leveraging the patent's key technological advantages. These include patented molecular engineering that links cannabinoids to complementary compounds, dramatically increasing water solubility by over 300 times compared to natural cannabinoids, and improving bioavailability and therapeutic delivery. This innovation could lead to more potent responses with reduced toxicity, potentially allowing for lower doses and fewer side effects. The technology expands treatment applications, particularly for conditions where traditional oil-based cannabinoids have limited effectiveness, with a focus on developing sublingual applications for ailments like anxiety and seizures. Leadership changes at MJNA accompany this alliance, with Dr. Timothy R. Scott returning as president, replacing interim president Robert A. Wells Jr., who remains as CFO, signaling a renewed focus on this strategic initiative.

In statements from both companies, Dr. Scott expressed confidence in AXIM's R&D capabilities and highlighted MJNA's existing knowledge and relationships in the cannabinoid market, calling the alliance a 'great fit' with 'tremendous opportunity.' Catalina Valencia, AXIM President, emphasized that the water solubility of CBD and other cannabinoids represents a significant development for improved administration and increased potency, potentially leading to new drugs or treatments. The collaboration aims to unlock commercial potential, with MJNA's subsidiaries, HempMeds® and Kannaway®, positioned to distribute resulting products globally via e-commerce, direct sales, and retail channels. This news was disseminated through NEWMEDIAWIRE, underscoring the strategic importance of this alliance in advancing cannabinoid-based healthcare solutions.