SAN DIEGO, Oct. 28, 2020 (GLOBE NEWSWIRE) -- AXIM® Biotechnologies, Inc. (OTCQB: AXIM) (“AXIM® Biotech,” “AXIM” or “the Company”), an international healthcare solutions company targeting oncological and COVID-19 research, announced today that it has issued a letter to its shareholders providing commentary on the Company’s recent announcements and upcoming plans.
Highlights of the letter include:
| 1) | The Company’s rapid pivot and response to COVID-19, including: | ||
| • | Developing World’s First Rapid Diagnostic Test for Detecting Neutralizing Antibodies | ||
| - | Status: Emergency Use Authorization (EUA) filed with the FDA | ||
| - | Signed distribution and manufacturing agreement | ||
| - | Will be conducting a live virus comparison study on 30 plasma samples at a Biosafety Level 3 (BSL3) laboratory | ||
| - | Received Institutional Review Board approval to begin a clinical study at Arizona State University with the Company’s point-of-care whole blood test | ||
| - | Expect to see significant revenue in the coming months | ||
| • | NeuCovix-HT™: A high throughput, patent-pending diagnostic test that measures levels of functional antibodies in plasma or serum that neutralize the SARS-CoV-2 (COVID-19) virus | ||
| - | Status: EUA filed with the FDA | ||
| • | World’s First Face Mask Designed to Capture COVID-19 Virus | ||
| - | Additional testing is ongoing | ||
| • | Virus Binding Protein (VBP) | ||
| - | Filed a provisional patent application on September 22, 2020, relating to the invention of a VBP that is more potent, has a longer shelf life and is more stable than wild type ACE2 | ||
| - | In addition to current use in AXIM’s neutralizing antibody tests and face mask, the invention relates to the use of the VBP for the treatment and diagnosis of various disorders. | ||
| - | This now in-house development of the core ingredients needed to manufacture strips and masks could potentially lead to additional revenue and allows AXIM to control its supply chain. | ||
| 2) | The Company’s recent oncology-focused research updates, including: | ||
| • | New Patent re: SBI-183 | ||
| - | This new patent validates the novelty of SBI-183 as an inhibitor of tumor growth, invasion and suppression of metastasis, which is the parent compound for the Company’s work with SBI-183 analogs with the end goal of identifying the most potent QSOX1 inhibitors. Claims relate to the treatment of neoplastic cells in a variety of cancers, including myeloma, breast, kidney, and pancreas. | ||
| • | Conversion of Provisionals re: SBI-183 Analogs | ||
| - | One or more of these analogs have been shown in animal studies to be up to 10 times more potent than the parent compound, SBI-183. | ||
| • | A recently awarded $395,880 phase I Small Business Innovation Research (SBIR) grant by the National Cancer Institute (NCI) to continue research and development of novel small molecules that inhibit the enzymatic activity of QSOX1 based on SBI-183. This success has allowed AXIM to bring on additional staff that are dedicated to the research and development of these analogs. | ||
| 3) | The Shareholder Letter details some of the Company’s anticipated key milestone achievements for the end of 2020 and beginning of 2021. | ||
The Company’s Chief Executive Officer John W. Huemoeller II commented: “2020 has been an unexpected and unprecedented year for every industry. I am so proud and humbled by the ability of AXIM’s scientists to swiftly adapt their skills into COVID-19 research and development at the onset of the pandemic. Together, we have brought several much-needed, first-of-its-kind rapid tests to fruition and have done so in a fiscally responsible way that maximizes our budget. In 2021, we look forward to further partnerships and developments as we work to bring our COVID-19 projects to market and continue our oncology-focused research.”
To read the Letter to Shareholders in full, please visit: https://aximbiotech.com/investors/.
About AXIM® Biotechnologies
Founded in 2014, AXIM® Biotechnologies, Inc. (AXIM) is a vertically integrated research and development company focused on changing diagnosis and treatment for oncology and SARS-CoV-2 (COVID-19). AXIM’s COVID-19 rapid neutralizing antibody test is the first rapid diagnostic test measuring levels of functional neutralizing antibodies that are believed to prevent SARS-CoV-2 from entering the host cells. The Company has also begun development of the first-ever face masks that capture and deactivate SARS-CoV-2, enhancing protection of both the user and those surrounding the user. Additionally, the Company is developing rapid diagnostic tests for the early detection of cancer and proprietary small molecules drugs to treat cancer and block metastasis. For more information, please visit www.AXIMBiotech.com.
Public Relations Contact:
Kathryn Reinhardt
Account Supervisor
CMW Media
P. 858-264-6600
kathryn@cmwmedia.com
www.cmwmedia.com
Corporate Contact Info:
North American Address:
45 Rockefeller Plaza, 20th Fl.
New York, NY 10111, USA
P. 844 294 6246
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of AXIM Biotechnologies, Inc. to be materially different from the statements made herein.
LEGAL DISCLOSURE
AXIM® Biotechnologies does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA).