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Revive Therapeutics (OTC:RVVTF) signs distribution/licensing agreement with AXIM Biotechnologies

Tony Zerucha

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AXIM Biotechnologies (OTC: AXIM), a cannabinoid research and development company, has signed an exclusive distribution and license agreement with Revive Therapeutics (TSXV:RVV) (OTC:RVVTF), a specialty cannabis company focused on the research, development and commercialization of novel cannabinoid-based products and therapies, to begin selling AXIM’s cannabidiol (CBD)-containing nutraceutical product in Canada.

The agreement defines a relationship where Revive will seek regulatory approval for AXIM Biotech’s proprietary, controlled-release functional chewing gum containing full-spectrum hemp oil-derived CBD. Under the terms of the agreement, Revive will have a minimum purchase amount annually, which increases each year for the term of the agreement.

“We have been working closely with Revive, our new distribution partner, to develop the best position for AXIM and Revive to successfully enter the emerging, robust market in Canada and meet the increased demand for high-quality CBD products,” AXIM Biotechnologies CEO George E. Anastassov said. “We are excited to bring our nutraceutical product offering to the Canadian market and hope this will create a new revenue stream for both companies and fill a void in quality, tested and proven CBD products for consumers there.”

According to Deloitte, the legal cannabis industry in Canada has the potential to generate more than $4 billion in sales within its first year. Deloitte also projects total estimated consumer spend could surge by as much as 58 per cent.

In a statement AXIM said that in its natural form, cannabinoids are lipophilic, not water-soluble and tend to stick to the chewing gum matrix, therefore diminishing effective release into the bloodstream. Microencapsulation renders cannabinoids soluble and dramatically increases the bioavailability of CBD, while largely bypassing the first pass hepatic metabolism.

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Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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