GlobeNewswire Inc | Nov 9, 2021 09:00AM EST

November 09, 2021

SAN DIEGO, Nov. 09, 2021 (GLOBE NEWSWIRE) -- AXIM Biotechnologies, Inc (OTCQB: AXIM) (AXIM Biotech, AXIM or the Company), an international healthcare solutions company targeting COVID-19 diagnostics and oncological research, today announced their publication in the Journal of Clinical Virology describing the development of a rapid test to measure levels of neutralizing antibodies to SARS-CoV-2.

The publication is the first report of a rapid test that can semi-quantitatively measure levels of neutralizing antibodies. The test is portable, inexpensive and requires only a single drop of blood from a finger stick. The test can be performed in a point-of-care setting or by an individual and has demonstrated over 90% sensitivity and 100% specificity when benchmarked against an authentic SARS-CoV-2 neutralization assay using serum samples from COVID-19 patients.

Importantly, the test does not cross-react with sera from patients other seasonal viral respiratory infections, which cause cold and flu-like illnesses. The publication also highlights the ability of the test to measure levels of neutralizing antibodies in vaccine recipients as well as previously infected individuals.

Dr. Douglas Lake, an associate professor at ASU and lead author of the publication says, All antibodies are not created equal. Most antibody tests for COVID simply detect antibodies to either spike or nucleocapsid (viral core), but this test measures levels of functional antibodies neutralizing antibodiesantibodies that prevent the virus from infecting cells. Neutralizing antibodies form a molecular force field in blood and tissues that prevent the virus from infecting cells.

John Huemoeller, CEO of AXIM Biotech indicates, Since COVID-19 is not going away anytime soon, it is important to keep your levels of neutralizing antibodies high to prevent infection. Our test allows one to know and monitor his or her levels of neutralizing antibodies without sending a tube of blood to the lab for an expensive test. Our rapid test may impact public health because it indicates when protective antibodies are declining to pre-vaccine levels which might suggest a booster shot to prevent infection and potential spread of the virus.

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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