GlobeNewswire Inc | Mar 24, 2021 09:00AM EDT

March 24, 2021

SAN DIEGO, March 24, 2021 (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 the Companys manufacturing partner, Empowered Diagnostics, has filed an Emergency Use Authorization (EUA) application with the US Food and Drug Administration (FDA) for the approval to use ImmunoPass, the Companys rapid test that semi-quantitatively measures levels of COVID-19 neutralizing antibodies, to detect COVID-19 neutralizing antibodies in whole blood at point-of-care locations.

AXIM announced earlier this month that it has completed clinical trials, identifying that operators found ImmunoPass easy to use and that they encountered no issues in using the Companys test to measure participants levels of COVID-19 neutralizing antibodies. AXIM worked with Empowered Diagnostics to compile these study results for inclusion in this EUA.

John W. Huemoeller II, AXIM Biotech CEO, commented: With recent news that vaccines are expected to be available to all American adults by May, travel will likely pick back up shortly. This makes ImmunoPass even more relevant as neutralizing antibodies drop off at varying rates following vaccination. In order to slow the spread of the COVID-19 virus, we need to understand not only whether a person has been vaccinated but also whether their current levels of neutralizing antibodies are high enough for safe travel.

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.

About Empowered DiagnosticsEmpowered Diagnostics delivers innovative, best-in-class diagnostic tests backed by leading experts in healthcare and biotechnology. Our mission is to empower people with the knowledge and confidence to understand their health through reliable, affordable, high-quality tests. Based in Pompano Beach, Florida, Empowered Diagnostics is one of the largest capacity manufacturers of rapid diagnostic solutions in the United States. For more information, please visit www.empdx.net

Forward-Looking StatementsThe 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