GlobeNewswire Inc | Nov 2, 2021 09:00AM EDT

November 02, 2021

SAN DIEGO, Nov. 02, 2021 (GLOBE NEWSWIRE) -- AXIM Biotechnologies, Inc.(OTCQB: AXIM) (AXIM Biotech, or the Company), an international healthcare solutions company targeting oncological, COVID-19 and Dry Eye Disease (DED) diagnostics, today announced it has appointedMichael E. Stern, MS, Ph.D., to its Medical Advisory Board. He joins AXIMs four other Advisory Board members including Drs. Kelly K. Nichols, Henry D. Perry,Laura Periman, andits Chairman Joseph Tauber.

Dr. Stern brings over 30 years of senior scientific, research, academic and executive level expertise with Dry Eye Disease and Ocular Surface Disease (OSD). Currently, he is a Principal and Chief Science Officer for immunEyze, a boutique contract research organization that performs preclinical and clinical research for OSD indications. Previously, he served for 26 years with Allergan where he rose to Principal Scientist and Vice-President Inflammation Research whose work included elucidating the pathophysiology of DED. He is extensively published in leading ocular journals.

Our Medical Advisory Board just keeps getting better, said John W. Huemoeller II, AXIM Biotech Chief Executive Officer. Michael is a highly regarded scientific professional in Dry Eye Disease as well as OSD. His three decades of experience leading laboratory research for big and small companies, combined with his extensive academic experience and connections will serve Axim well as we prepare to commercialize our two FDA-approved DED diagnostic tests.

In addition to its US focus, AXIM has global ambitions for its DED diagnostic portfolio and I like that Dr. Stern serves as Co-Director of Ocular Immunology at IOBA in Spain, and Visiting Professor of Ophthalmology at the University of Cologne -- as he brings relationships and insight into the European marketplace. Im delighted to welcome Michael to the Advisory Board.

Michael E. Stern, MS, Ph.D. Summary BioDr. Stern currently serves as Chief Science officer for immunEyze, a boutique contract research organization that performs preclinical and clinical research for OSD. Previously, he served for 26 years with Allergan where he rose to Principal Scientist and Vice-President Inflammation Research whose work includes elucidating the pathophysiology of DED.

Dr. Stern has authored over 100 publications, 300 abstracts and several book chapters. Additionally, along with Dr. Stephen Pflugfelder and Dr. Roger Beuerman, he published a book: Dry Eye and Ocular Surface Disorders (2004). He is a member of the Editorial Board of The Ocular Surface, and reviews papers for several professional journals.

Dr. Stern has finished a term as Adjunct Associate Professor at Baylor College of Medicine (Houston, Texas) and is currently Co-Director of Ocular Immunology at IOBA (University of Valladolid, Valladolid, Spain). He is also a Visiting Professor of Ophthalmology at the University of Cologne (Germany). He has received the Diaz-Caneja Award and given the Award Lecture at the International Ocular Surface Society.

Dr. Stern earned his BS at Purdue University, and an MS and Ph.D. in Physiology/Ophthalmology from Medical College of Wisconsin.

Dry Eye Disease MarketRecent estimates of the prevalence of dry eye disease are that over 26 million people inthe United Statesand over 300 million globally suffer with dry eye disease. The prevalence is growing in both young and old adults, making it more urgent that clinicians are better able to diagnose and treat DED. As many as two-thirds of patients with symptoms of dry eye have never been diagnosed by their physician. Diagnosing DED is a challenge because of the multifactorial nature of the disease, with symptoms similar to other ocular surface conditions. It is well known that there is often a discordance between signs and symptoms, highlighting the need for more sensitive and accurate diagnostic tools.

About AXIM BiotechnologiesFounded in 2014, AXIMBiotechnologies, Inc.(AXIM) is a vertically integrated research and development company focused on changing the landscape of diagnosis of SARS-CoV-2 (COVID-19), dry eye disease (DED) and Oncological indications. AXIMs COVID-19 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 ophthalmological conditions such as DED. For more information, please visitwww.AXIMBiotech.com.

Forward-Looking StatementsThe statements made byAxim 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 ofAxim 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 theU.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 theU.S. Food and Drug Administrationor equivalent foreign regulatory agencies to sell its products and whether and when, if at all, they will receive final approval from theU.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 AximsSECreports and filings, including our Annual Report on Form 10-K filed onApril 15, 2021and other reports we file with theSEC, 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.

CONTACTPublic RelationsKathryn BrownAccount DirectorCMW MediaP.858-264-6600kathryn@cmwmedia.comwww.cmwmedia.com

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