AXIM® Biotechnologies Files Patent for World’s First Face Mask Designed to Capture SARS-CoV-2 COVID-19

Rhea-AI Summary

SAN DIEGO, Sept. 29, 2020 - AXIM Biotechnologies (OTCQB: AXIM) has filed a provisional patent for a revolutionary face mask designed to capture and deactivate SARS-CoV-2, the virus causing COVID-19. The global face mask market, valued at $4.58 billion in 2020, is projected to grow to $21.2 billion by 2026. AXIM's mask utilizes embedded reagents for enhanced virus capture efficiency, surpassing conventional masks. The company is pursuing FDA and EPA approvals and plans to license manufacturers for large-scale distribution.

Positive

• Provisional patent filed for a first-in-class face mask targeting SARS-CoV-2.
• Significant market opportunity with global face mask market expected to reach $21.2 billion by 2026.
• Developed a cost-effective treatment for the mask's filter, improving virus capture efficiency.

Negative

• Regulatory approval for mask distribution is uncertain and depends on FDA/EPA.
• No assurance that the masks can be manufactured at scale or will be commercially viable.

SAN DIEGO, Sept. 29, 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 first-in-class face mask that captures and deactivates SARS-CoV-2, the coronavirus responsible for the ongoing COVID-19 pandemic.

According to Market Study Report, LLC, the global face mask market size was valued at $4.58 billion in 2020, and is estimated to reach $21.2 billion by 2026. The outbreak of respiratory infection based pandemic diseases like COVID-19 is fueling global demand for face masks among frontline health workers such as first responders, nurses, and medical practitioners.

Most commercially available masks are unable to efficiently filter the tiny aerosols that contain the virus. Viruses that are attached to the filtering materials can penetrate through a moist mask and, thus, increase the risk of infection. AXIM’s novel face mask is designed to provide enhanced protection from infection by capturing the viruses in the face mask filter layer before it reaches or after it exits the user's respiratory system.

To accomplish the goal of capturing SARS-CoV-2 on the face mask, AXIM developed a cost-effective treatment for the face mask surfaces that utilizes a proprietary set of reagents that are permanently embedded into the mask filter which then captures the virus instantaneously on contact.

Numerous studies have shown that the SARS-CoV-2 spike protein enters human host cells by locking its spike protein to cell-surface proteins. AXIM’s initial laboratory testing has demonstrated that the SARS-CoV-2 spike protein tightly binds to the capture reagents finely interspersed throughout face mask fibers, therefore significantly increasing its capture efficiency when compared to the commercially available masks and further preventing the virus from entering or exiting the user’s respiratory system.

“Our highly accredited scientists have proven that by coating the filtration layers of our face masks with our proprietary reagents, which SARS-CoV-2 binds to, we can ‘capture’ the virus in the masks to provide enhanced protection and lower the rate of COVID-19 infection,” said AXIM® Biotech CEO John W. Huemoeller II.

AXIM is examining the regulatory pathways necessary to obtain approval to distribute the face mask in the U.S, either the Food and Drug Administration (FDA) or the Environmental Protection Agency (EPA), and in the European Union. AXIM plans to license face mask manufacturers to handle large-scale production and distribution of the face mask while manufacturing the preparatory reagent ingredients in its own laboratory.

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. 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 products will be approved for use by the U.S. FDA or any equivalent foreign regulatory agency, that the masks can be manufactured in large quantities or that third parties with an established in the industry will enter into agreements or purchase from the Company, and even if the Company’s mask candidates are successful, it may generate only limited revenue and profits for the Company, including whether any of Axim’s 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 mask that captures viruses and 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:
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 did AXIM Biotechnologies announce on September 29, 2020?

AXIM Biotechnologies announced the filing of a provisional patent for a new face mask designed to capture and deactivate SARS-CoV-2.

How does AXIM's face mask work?

The mask uses proprietary embedded reagents to capture the SARS-CoV-2 virus instantaneously upon contact.

What is the market potential for AXIM's face mask?

The global face mask market was valued at $4.58 billion in 2020 and is expected to grow to $21.2 billion by 2026.

What are the regulatory challenges for AXIM's face mask?

AXIM needs to obtain regulatory approval from the FDA or EPA to distribute the mask in the U.S. and Europe.

What is the significance of AXIM's novel face mask?

It offers enhanced protection against COVID-19 by efficiently capturing the virus compared to conventional masks.