GlobeNewswire Inc | May 5, 2021 08:12AM EDT

May 05, 2021

SAN DIEGO, May 05, 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 for emergency 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 throughout Canada and the EU.

Empowered Diagnostics application is currently under review by Health Canada for approval for use in the country. Additionally, the Company has filed for a CE mark, which is required to distribute a product or device on the EU market and signifies that the Company has met the necessary safety, health and environmental protection requirements for sale. Once granted a CE mark, the Company will have approval to manufacture and commercialize ImmunoPass for use in point-of-care locations across the EU.

Last month, AXIM announced that Empowered Diagnostics filed an Emergency Use Authorization (EUA) application with the US Food and Drug Administration (FDA) for approval to use ImmunoPass to detect COVID-19 neutralizing antibodies in whole blood at point-of-care locations.

AXIM Biotech CEO John W. Huemoeller II commented: The COVID-19 pandemic itself is evidence that the world is interconnected. Because of that, its crucial that countries work together to resolve this global issue and have a consistent level of care in order to achieve relative normalcy as quickly as possible. ImmunoPass is incredibly easy to use and delivers accurate results in a matter of minutes, making it an ideal device for global use.

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