AXIM Biotechnologies Announces Over 40 Initial Clinic Commitments for Its Full Diagnostic Assay Platform Launch

Leading Dry Eye Disease Diagnostic Healthcare Company’s Assays to be Performed in Over 40 Initial Clinics Across US

SAN DIEGO, CA, May 24, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire –  AXIM Biotechnologies, Inc. (OTCQB: AXIM) (“AXIM Biotech,” “AXIM” or “the Company”), an international healthcare diagnostic solutions development company, announced today that through its distribution partner Verseá Ophthalmics it has received commitments from over 40 clinics across the United States for implementation of both of its FDA-cleared Dry Eye Disease (DED) diagnostic assays. The milestone marks the initial step in its nationwide roll out of the platform and the Company expects new clinics to continue to commit over the coming months with the goal of doubling the amount by Q4 2023.

As part of the onboarding process for clinics, each of the 40 clinics either currently have their CLIA moderate complexity license or are in the application process. Once they have their CLIA license the Company will send its clinic partners a validation kit, along with a reader that is used to interpret results, and the clinics will run the required amount of validation test assays in anticipation of full-scale implementation. Once initial validation testing is done, the Company anticipates clinics on average will begin monthly reordering of approximately 200-300 tests. Each of the 40 clinics are committed to introducing the diagnostic platform and will receive a combination of IgE and Lactoferrin diagnostic assays. Additionally, AXIM’s commercialization partner Verseá Ophthalmics continues to meet with and educate clinics on the diagnostic assay platform, with the goal of garnering additional commitments.

While currently all clinics working with the assays must be CLIA-moderate complexity certified before they can run tests, the Company is currently in the process of preparing the appropriate research trial and paperwork for submission to the appropriate regulatory body seeking a CLIA-waiver, which once accomplished, will exponentially increase the market opportunity for introduction of the tests.

“We are so pleased to share this update with our investors and the medical community as a whole,” said John Huemoeller II, CEO of AXIM Biotechnologies. “Since launching our diagnostic platform, we have looked forward to the day where our solutions would officially begin to improve the lives of thousands of patients a week, and today we can share that dream is a reality. Verseá has been showcasing our platform at industry trade shows and to clinics across the country and the initial response has been tremendous. I could not be more excited about the opportunity before us and every day we continue to scale manufacturing to be able to meet the growing demand. Also – I would like to personally thank the Verseá team who has played an integral part in achieving this milestone – they continue to prove their professionalism and passion for our mutual success, which are great qualities to look for in a partner.”