AXIM® Biotechnologies Files Patent for Virus Binding Recombinant Protein for SARS-CoV-2 (COVID-19) and Begins Manufacturing
AXIM® Biotechnologies has filed a provisional patent for a recombinant virus binding protein (VBP) targeting SARS-CoV-2, the virus behind COVID-19. The novel VBP demonstrated to be about 10 times more potent and stable than existing options, potentially lowering research costs for COVID-19 diagnostics. By manufacturing this protein in-house, AXIM aims to eliminate supply chain issues and enhance its research capabilities, including the development of rapid neutralizing antibody tests and specialized face masks. This innovation positions AXIM favorably in the competitive healthcare market.
- Filed a provisional patent for a novel virus binding protein (VBP) for SARS-CoV-2.
- Novel VBP is approximately 10 times more potent and stable than competitors, leading to reduced research costs.
- In-house manufacturing of VBP eliminates supply chain issues and provides control over quality.
- No assurance that the diagnostic candidate will successfully detect SARS-CoV-2 neutralizing antibodies.
- Diagnostic or facemask candidates may not receive FDA approval.
- Potential limited revenue generation despite successful product development.
SAN DIEGO, Sept. 30, 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 filed a provisional patent for a recombinant virus binding protein (VBP) for SARS-CoV-2, the coronavirus responsible for the current COVID-19 pandemic, and is now manufacturing the VBP.
Numerous studies have shown that the SARS-CoV-2’s spike protein enters human host cells by locking its receptor binding domain (RBD) to proteins on the human cell surface. AXIM’s laboratory tests have proven the RBD spike protein binds with the Company’s novel VBP.
Human cell-surface proteins are essential to COVID-19 diagnostic testing because they allow researchers to simulate the body’s natural reaction to SARS-CoV-2 and help determine the efficacy of testing devices. Unfortunately, these human cell-surface proteins are extremely expensive, costing thousands of dollars per milligram, and tend to be very unstable molecules.
Initial tests show that AXIM’s novel VBP is approximately 10 times more potent and stable than current VBP options on the market. These characteristics could potentially allow COVID-19 researchers, including those at AXIM, to conduct more testing with less VBP product, which in return, would decrease research costs. In addition to COVID-19 diagnostic testing, AXIM’s VBP can be used for attachment to polymers, beads, other solid materials, such as plastics, metal, textiles, etc.
“By internally developing and manufacturing this virus binding protein, AXIM’s COVID-19 research team no longer needs to rely on outside protein supply to continue our research and can greatly cut down on our research costs. We are now able to make the quantities needed for our current and future COVID-19 products, including COVID-19 rapid neutralizing antibody diagnostic tests, the first-ever face masks that capture and deactivate SARS-CoV-2 and more,” said AXIM® Biotech CEO John W. Huemoeller II. “Eliminating supply chain issues and having full control over VBP quality while being able to economically manufacture the protein is key to our growth and research progress.”
To learn more about AXIM and the Company’s COVID-19-related research, please visit https://aximbiotech.com/.
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.
FORWARD-LOOKING DISCLAIMER
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 or facemask candidate will be approved for use by the U.S. FDA or any equivalent foreign regulatory agency, that the diagnostic candidate or facemasks 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 or facemasks are successful, they may generate only limited revenue and profits for the Company, including whether any of Axim’s diagnostic products or facemasks 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 or virus capturing facemasks 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:
Public Relations Contact:
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andrew.hard@cmwmedia.com
www.cmwmedia.com
AXIM Corporate Contact Info:
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San Diego, CA 92121, USA
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Investor Relations Contact:
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