SAN DIEGO, Nov. 10, 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, applauds the recent announcement from a major vaccine producer that it has achieved 90 percent efficacy in its COVID-19 vaccine trial. With this news, the Company highlights that its rapid diagnostic test will be vital in analyzing vaccine recipients’ immunity to COVID-19 post-vaccination.
As a solution, AXIM has developed one of the only point-of-care rapid diagnostic tests for measuring COVID-19 neutralizing antibodies in plasma or serum after vaccination.
The goal of all COVID-19 vaccines undergoing clinical trials is to elicit neutralizing antibodies that block the virus from infecting an individual. After vaccination, the only way for manufacturers to measure vaccine efficacy is to measure their levels of neutralizing antibodies. If their neutralizing antibody levels are low, the vaccine was not effective for that person (i.e. he/she can still become infected and spread the virus despite being vaccinated). If neutralizing antibody levels are high, they are be protected from disease. Additionally, no one knows how long the antibodies from vaccines will last and whether a booster shot might be necessary.
Since we know the COVID-19 vaccine will not elicit protective immunity in every individual and variable immunity in others, the challenge is to measure levels of protective immunity in vaccine recipients. This is a tall order. It is not logistically possible to take a tube of blood from even a small portion of the vaccinated population and send to clinical laboratories for testing. AXIM’s point-of-care rapid diagnostic test solves these challenges because it takes only 10 minutes to measure neutralizing antibody levels. AXIM’s test is portable, cost-effective and provides users with information about their level of protective immunity.
“As news broke this week about successful vaccine trial data for COVID-19, the world will soon be looking for a faster, more affordable way to ensure that those who receive the vaccine are indeed protected,” said AXIM® Biotech CEO John W. Huemoeller II. “While there are other neutralizing antibody tests available, ours, unlike others, will be the only option available in a point of care setting and it will provide the most rapid results on the market. No vaccine can be 100 percent effective but we want to be at the forefront of helping to guarantee that those who receive a COVID-19 vaccine know if they are immune or need to seek alternative measures to achieve immunity. This could greatly reduce the spread of the virus.”
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.
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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.
AXIM® Biotechnologies does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA).