AXIM Biotechnologies Introduces Diagnostics to Measure Immunity Against Emerging SARS-CoV-2 Variants
AXIM Biotechnologies has announced the development of a new ELISA test to measure neutralizing antibodies against six SARS-CoV-2 variants, including those from Brazil and South Africa. This test, which provides results in under two hours, may help evaluate vaccine efficacy against these variants. The company has sought patent protection for this diagnostic innovation. CEO John W. Huemoeller II emphasized the potential benefits for vaccine manufacturers by offering insights into antibody responses. AXIM aims to transform diagnostic procedures in both oncology and COVID-19.
- Development of a new ELISA test for neutralizing antibodies against six SARS-CoV-2 variants.
- The test completes in under two hours, providing quick insights into infection risk.
- Potential support for vaccine companies to assess vaccine effectiveness against variants.
- Patent application for the diagnostic test may strengthen competitive position.
- No assurance that the new diagnostic test will receive FDA approval.
- Potential challenges in large-scale manufacturing of the diagnostic test.
- Uncertainty regarding revenue generation despite successful product development.
SAN DIEGO, May 03, 2021 (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 a new ELISA test that measures levels of neutralizing antibodies against six common variants of SARS-CoV-2 virus. The Company has also filed for patent protection for the diagnostic test.
SARS-CoV-2 variants from Brazil, South Africa, California and Britain have been shown to be more infectious and potentially more deadly than the original Wuhan strain due to mutations in the viral spike protein. This has caused concern because current COVID-19 vaccines are based on the spike protein in the Wuhan strain and it is not known how well the vaccines protect against the other variants.
AXIM Biotechnologies recently developed a new test that measures levels of immune protection against each of the variants of SARS-CoV-2 in parallel fashion. The test takes less than two hours to complete and can provide an indication of relative risk of infection with each variant.
The ELISA test is the most widely used type of immunoassay in diagnostic and research labs. ELISA is a high throughput test used to detect or quantify various biomolecules, including antibodies against pathogens or pathogen-derived proteins. ELISA is simple, sensitive, requires only microliter quantities of test samples and can be automated.
John W. Huemoeller II, AXIM® Biotech CEO, commented: “The new test may also provide vaccine companies with valuable information for how well their vaccines protect against SARS-CoV-2 variants. If vaccine companies begin to include variants in their vaccine, the new test will be able to measure specific protective antibody responses to the variants. We hope this cutting edge work will be helpful as the more infectious variants begin to predominate worldwide.”
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. 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.
Forward-Looking Statements
The statements made by AXIM Biotechnologies Inc., in this press release may be “forward-looking” in nature within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe Axim’s future plans, projections, strategies and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of Axim Biotechnologies, Inc. Actual results could differ materially from those projected due to there being no assurance that our diagnostic candidate will be successfully shown to detect SARS-CoV-2 neutralizing antibodies, that the diagnostic candidate will be approved for use by the U.S. FDA or any equivalent foreign regulatory agency, that the diagnostic candidate can be manufactured in large quantities or that third parties with an established presence in blood collection clinics, vaccine development, employer or individual use will enter into agreements or purchase from the Company, and even if the Company’s diagnostic candidate is successful, it may generate only limited revenue and profits for the Company, including whether any of Axim’s diagnostic products will receive clearance from the U.S. Food and Drug Administration or equivalent foreign regulatory agencies to sell its products and whether and when, if at all, they will receive final approval from the U.S. FDA or equivalent foreign regulatory agencies, the fact that there has never been a commercial diagnostic test utilizing neutralizing antibodies approved for use and various other factors detailed from time to time in Axim’s SEC reports and filings, including our Annual Report on Form 10-K filed on May 13, 2020 and our subsequent quarterly report on Form 10-Q filed on June 30, 2020, and other reports we file with the SEC, which are available at www.sec.gov. Axim Biotechnologies, Inc., undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, unless otherwise required by law.
CONTACT:
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AXIM Corporate Contact Info:
6191 Cornerstone Ct., Ste. 114
San Diego, CA 92121, USA
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Investor Relations Contact:
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888-759-0844
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