AXIM® Biotechnologies Develops Next Generation of its Rapid Neutralizing Antibody Test for COVID-19

Rhea-AI Summary

AXIM Biotechnologies has developed a second-generation Rapid Neutralizing Antibody Test for COVID-19, aimed at improving detection of protective antibodies. This new test can differentiate between non-neutralizing and neutralizing antibodies, providing users with valuable information on their vaccine response in just 10 minutes. The company’s first test is currently under FDA review. AXIM aims to enhance diagnostics for COVID-19 and other diseases through its innovative solutions, which include rapid tests for oncological and ophthalmological conditions.

Positive

• Second-generation test differentiates between neutralizing and non-neutralizing antibodies.
• Provides quick results (10 minutes) indicating vaccine response.
• First test is under FDA review, showing regulatory progress.

Negative

• No assurance of FDA approval for the new diagnostic candidate.
• Risks associated with mass production and third-party agreements.

SAN DIEGO, Oct. 12, 2021 (GLOBE NEWSWIRE) -- AXIM Biotechnologies, Inc (OTCQB: AXIM) (“AXIM Biotech,” “AXIM” or “the Company”), an international healthcare solutions company targeting oncological, COVID-19 and dry eye disease (DED) diagnostics, today announced the development of the second generation version of its Rapid Neutralizing Antibody Test for COVID-19.

Although both antibodies and T cells are both involved in protection from COVID-19, antiviral T cell responses are technically and logistically difficult to measure. Unlike T cells, antiviral antibodies are relatively easy to detect and measure from a finger-stick drop of blood. The Company’s first rapid test (currently under FDA review) is special because it measures levels of neutralizing antibodies, which provide protection from COVID-19 infection if blood levels are high enough. 

The purpose of a vaccine is to induce antibodies against SARS-CoV-2 virus to prevent infection but unfortunately, not all of these antibodies neutralize the virus and protect the vaccine recipient. AXIM scientists have developed the second generation version of its original test which differentiates antibodies that simply bind to the virus but do not neutralize it versus antibodies that bind and neutralize the virus. This is an important distinction because COVID-19 vaccines do not induce high levels of neutralizing antibodies in all recipients. AXIM’s second generation test provides users with a test that shows if they responded to their COVID-19 vaccine and a semi-quantitative analysis of their neutralizing antibody levels in a single test.

“This new test is extremely important because it helps people know if they are protected after receiving the vaccine in just 10-minutes,” said John W. Huemoeller II, AXIM® Biotech Chief Executive Officer. “People want to make sure they are protected as vaccine immunity wanes so that they don’t develop an asymptomatic infection and transmit the virus to vulnerable populations.”

About AXIM® Biotechnologies
Founded in 2014, AXIM® Biotechnologies, Inc. (AXIM) is a vertically integrated research and development company focused on changing the landscape of diagnosis of SARS-CoV-2 (COVID-19), dry eye disease (DED) and Oncological indications. AXIM’s COVID-19 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 ophthalmological conditions such as DED. 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 April 15, 2021 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.

CONTACTS

Public Relations Contact:
Kathryn Brown
Account Director
CMW Media
P. 858-264-6600
kathryn@cmwmedia.com
www.cmwmedia.com

AXIM Corporate Contact Info:
6191 Cornerstone Ct., Ste. 114
San Diego, CA 92121, USA
P. 858-923-4422
Investor Relations Contact:
investors@aximbiotech.com
888-759-0844 

CONTACT:
Public Relations Contact:
Andrew Hard
Chief Executive Officer CMW Media
P. 858-264-6600
andrew.hard@cmwmedia.com
www.cmwmedia.com

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

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

 

FAQ

What is AXIM's new COVID-19 test about?

AXIM's new test differentiates between neutralizing and non-neutralizing antibodies, providing a clearer indication of vaccine efficacy in just 10 minutes.

Where is AXIM Biotechnologies located?

AXIM Biotechnologies is located in San Diego, California.

What is the ticker symbol for AXIM Biotechnologies?

The ticker symbol for AXIM Biotechnologies is AXIM.

Is AXIM's Rapid Neutralizing Antibody Test FDA approved?

AXIM's first test is currently under FDA review, but the new second-generation test is not yet approved.

When was AXIM's second-generation test announced?

AXIM announced the second-generation test on October 12, 2021.