AXIM Develops Quantitative Rapid Diagnostic Test for Lacritin; Now Boasts Four Dry Eye Disease Point-of-Care Biomarker Tests

Rhea-AI Summary

AXIM Biotechnologies (OTCQB: AXIM) has developed a rapid quantitative tear test for Lacritin, a protein involved in tearing, targeting Dry Eye Disease (DED). Approximately 6.8% of the U.S. population experiences DED, with many undiagnosed. Lacritin promotes tear secretion and cell survival, important in treating DED. The CEO noted this test could enhance diagnosis and treatment, contributing to shareholder value. AXIM also has FDA-cleared tests for lactoferrin and IgE, aiming for a comprehensive DED diagnostic program.

Positive

• Successful development of a rapid tear test for Lacritin, targeting a significant unmet need in DED diagnosis.
• Potential to improve diagnosis and treatment options for DED patients.
• Introduction of a portfolio of quantitative tests expected to add shareholder value.

Negative

• Concerns about the FDA approval process for the diagnostic tests.
• Potential limitations in manufacturing and distribution capabilities.

SAN DIEGO, April 27, 2022 (GLOBE NEWSWIRE) -- AXIM® Biotechnologies, Inc. (OTCQB: AXIM) (“AXIM® Biotech,” “AXIM” or “the Company”), an international healthcare solutions company targeting Dry Eye Disease (DED), announced today that it has successfully developed a rapid quantitative tear test for Lacritin, a tear protein that autonomously promotes tearing and is deficient in all forms of Dry Eye Disease.

While Dry Eye Disease knowingly affects approximately 6.8% of the U.S. population, an estimated six million people have reported experiencing DED symptoms but have not been diagnosed or have received treatment. DED can significantly impair visual acuity, workplace productivity, and quality of life and increases with age but is hard to diagnose because it is a multifactorial disease with many disparate causes and has a highly variable symptom profile at different stages of the disease. These factors also make it difficult for DED patients to find lasting relief.

Lacritin is a secreted protein found in tears. Lacritin also promotes tear secretion, the proliferation and survival of epithelial cells, and corneal wound healing. Several tear proteins are deficient in different forms of Dry Eye. A growing number of studies suggest that lacritin may be differentially downregulated in dry eye, including contact lens-related dry eye.

“We are well on our way to developing a multifaceted Dry Eye program, targeting multiple proteins and biomarkers that may help us speed up DED diagnosis to potentially better treat diagnosed DED patients,” said John Huemoeller, CEO of AXIM Biotech. “We believe that this portfolio of four quantitative tests that all use the same reader system is going to be a game changer for the industry and add tremendous shareholder value.”

AXIM recently announced the development of an MMP-9 test to go with the FDA 501(k) cleared tests for lactoferrin and IgE that were acquired last year.

For more information about AXIM, please visit www.AXIMbiotech.com.

About AXIM® Biotechnologies
Founded in 2014, AXIM® Biotechnologies, Inc. (AXIM) is a vertically integrated research and development company focused on improving the landscape for diagnosis of ophthalmological conditions such as Dry Eye Disease (DED) through rapid diagnostic tests. Additionally, it owns IP and has conducted research on SARS-CoV-2 (COVID-19) rapid neutralizing antibody tests to detect levels of functional neutralizing antibodies that are believed to prevent SARS-CoV-2 from entering the host cells, as well as for oncological indications. 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 ever be approved for use by the U.S. FDA or any equivalent foreign regulatory agency. Further, Axim’s eye care diagnostic products that are FDA cleared may not be manufactured in large enough quantities or that third parties with established eye care physicians will enter into agreements or purchase from the Company, and even if the Company’s diagnostic candidates are successful, they may generate only limited revenue and profits for the Company. Various other factors are detailed from time to time in Axim’s SEC reports and filings, including our Annual Report on Form 10-K filed on April 15, 2022 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
Public Relations
Kathryn Brown, Account Director
CMW Media
P. 858-264-6600
kathryn@cmwmedia.com

AXIM Corporate
6191 Cornerstone Ct., Ste. 114
San Diego, CA 92121, USA
P. 858-923-4422

Investor Relations
investors@aximbiotech.com
888-759-0844

FAQ

What is AXIM Biotechnologies' recent development regarding Dry Eye Disease?

AXIM Biotechnologies has developed a rapid quantitative tear test for Lacritin, targeting Dry Eye Disease.

How many people in the U.S. are affected by Dry Eye Disease?

Approximately 6.8% of the U.S. population is affected by Dry Eye Disease.

What is Lacritin and its significance in treating Dry Eye Disease?

Lacritin is a tear protein that promotes tearing and is deficient in Dry Eye Disease patients, making it crucial for diagnosis and treatment.

Did AXIM develop any other tests besides the Lacritin test?

Yes, AXIM has FDA-cleared tests for lactoferrin and IgE, along with the new Lacritin test.

What is the potential impact of AXIM's new tests on shareholder value?

The new tests are expected to significantly enhance diagnosis and treatment of DED, potentially increasing shareholder value.