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JWH-133, alongside WIN 55,212-2 and HU-210, is responsible for preventing the inflammation caused by Amyloid beta proteins involved in Alzheimer's Disease, in addition to preventing cognitive impairment and loss of neuronal markers. This anti-inflamatory action is induced through agonist action at cannabinoid receptors, which prevents microglial activation that elicits the inflammation. Additionally, cannabinoids completely abolish neurotoxicity related to microglia activation in rat models.
It may be linked with anti-cancer properties, according to pre-trial data from a 2010 study in Madrid. 
The substance commonly referred to as "JWH-133" is not a scheduled substance in the U.S. Low abuse potential makes it less likely for regulation relative to its sister drugs such as JWH-018, as JWH-133 is selective for the non-psychoactive CB2 receptor and thus lacks significant psychoactive effects.
- JNeurosci.org Prevention of Alzheimer's Disease Pathology by Cannabinoids: Neuroprotection Mediated by Blockade of Microglial Activation Also has been shown to block grown of tumors. More clinical studies and trials are needed.