GlobeNewswire Inc | Jan 11, 2021 09:00AM EST

January 11, 2021

SAN DIEGO, Jan. 11, 2021 (GLOBE NEWSWIRE) -- AXIMBiotechnologies, 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 released a preprint of its manuscript describing the development of ImmunoPass, the Companys rapid point-of-care test that semi-quantitatively measures levels of neutralizing antibodies to COVID-19.

The manuscript is co-authored by several executives of AXIMs subsidiary Sapphire Biotech, Inc., including Chief Clinical Officer Douglas F. Lake, Chief Scientific Officer Sergei Svarovsky and Chief Technology Officer Alim Seit-Nebi.

This pandemic has caused massive economic and social unrest, not to mention the terrible loss of life and loved ones for millions of Americans. As COVID-19 vaccines roll out, recipients need to consistently monitor their levels of protective neutralizing antibodies. If vaccine-induced neutralizing antibodies decrease when compared to baseline, a vaccine booster may be necessary to keep everyone protected and prevent the spread of the virus. You can perform our test to indicate your level of protection while you drink your morning coffee. Its fast, accurate, portable, and affordable when compared to similar tests, said John W. Huemoeller II, Chief Executive Officer of AXIMBiotech.

Neutralizing antibodies are pivotal in halting the spread of the virus as they prevent the COVID-19 virus from infecting cells. As the world begins receiving the COVID-19 vaccine, recipients are reporting varying levels of neutralizing antibodies as each body responds differently to the vaccine. For this reason, it is important for recipients to measure their neutralizing antibodies regularly in order to know if and when it is time for a booster dose.

AXIMs ImmunoPass can serve as a convenient and effective testing option, as it has been proven to have 98 percent accuracy in detecting neutralizing antibodies using the benchmark of actual SARS-CoV-2 neutralization assays performed in a BSL3 laboratory.

The advantages of AXIMs ImmunoPass include that it uses only a single drop of blood, is smaller than the palm of a hand, highly portable, semi-quantitative, less expensive than a laboratory-based blood test, and can be used longitudinally to monitor increases and decreases in protective immunity after either natural infection or vaccine.

To read the full manuscript, please visit: https://www.medrxiv.org/content/10.1101/2020.12.15.20248264v1.full.pdf.

About AXIM BiotechnologiesFounded 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). AXIMs 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 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 Axims 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 Companys diagnostic candidate is successful, it may generate only limited revenue and profits for the Company, including whether any of Axims 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 Axims 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 atwww.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:Kathryn BrownAccount SupervisorCMW MediaP. 858-264-6600kathryn@cmwmedia.comwww.cmwmedia.com

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

Investor Relations Contact:investors@aximbiotech.com888-759-0844