GlobeNewswire Inc | Nov 16, 2021 09:00AM EST

November 16, 2021

SAN DIEGO, Nov. 16, 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, announced today that it has partnered with Arizona State University to develop a COVID-19 Correlate of Protection using AXIMs rapid neutralizing antibody test.

The collaborative study between AXIM and Arizona State University (ASU) will address this unmet need and determine a threshold for when neutralizing antibody levels have declined so that they no longer protect against infection and potential disease. In this manner, neutralizing antibody levels will be used as a Correlate of Protection.

Dr. Douglas Lake at ASU will enroll a high-risk population and monitor their neutralizing antibody levels weekly using AXIMs rapid neutralizing antibody test while also testing them weekly for the presence of SARS-CoV-2 by PCR.

Dr. Lake stated, We expect that people whose neutralizing antibody levels are high will not become infected compared to those that have low levels of neutralizing antibodies. Using this study design, our goal is to develop a Correlate of Protection so that people can keep their antibody levels high enough to avoid infection and potential transmission of the virus to vulnerable populations.

John Huemoeller, CEO of AXIM Biotech added, When our rapid test indicates that someones neutralizing antibody levels are low, healthcare providers might recommend a booster dose of COVID-19 vaccine, especially for someone who is high risk such as a healthcare provider, teacher, immunosuppressed or elderly. This study will answer the question on everyones mind, How low do my neutralizing antibodies levels need to fall before I am no longer protected from COVID-19 infection?

Although both antibodies and T cells are involved in protection from COVID-19, anti-viral T cell responses are technically and logistically difficult to measure. Unlike T cells, anti-viral antibodies are relatively easy to detect and measure from a finger-stick drop of blood. AXIMs rapid test is special because it measures levels of neutralizing antibodies which provide protection from infection if blood levels are high enough. The problem is that it is not known what levels of neutralizing antibodies protect from infection.

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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