Update

AXIM Biotechnologies Starts Shipping Revenue Generating IgE Diagnostic Validation Assays to Customers Nationwide

Leading Diagnostic Healthcare Company Also Announces Over 50 Initial Clinic Commitments for Its Full Diagnostic Assay Platform

SAN DIEGO, CA, July 12, 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 it has begun shipping revenue generating validation kits of one of its ophthalmological diagnostic assays. The proprietary assay is designed for the diagnosis of dry eye disease (DED) in patients at the point-of-care by measuring levels of Ocular Immunoglobulin E (IgE), a key biomarker primarily associated with non-specific, allergic conjunctivitis, which often mimics DED.

The Company had previously announced the commencement of commercial manufacturing of its IgE FDA-cleared ocular assays and this shipment marks the first commercial order fulfilment of the IgE assay since its development, a major milestone in the Company’s progress toward becoming a major revenue-generating diagnostic solutions company. 

The Company announced on May 24, 2023, it’s commercialization partner Verseá Ophthalmics had over 40 clinic commitments and that number now seven weeks later stands at over 50. As part of the onboarding process for clinics, each of the clinics either currently have their CLIA moderate complexity license or are in the application process. Once they have their CLIA license the Company sends the validation kit, along with a reader that is used to interpret results, and the clinics run the required amount of tests to validate the reader. Once initial validation testing is done, the Company anticipates clinics will begin monthly reordering of tests. Additionally, AXIM’s partner Verseá Ophthalmics continues to meet with clinics regarding the diagnostic assay platform and continues acquiring additional commitments.

“After years of research and development on our diagnostic program, today we are able to announce that our solutions are on their way to clinics to begin helping patients improve their lives – a milestone I could not be prouder of,” said John Huemoeller II, CEO of AXIM Biotechnologies. “Through Verséa Ophthalmics, we have been showcasing our solutions to clinicians for the past few months while we have been scaling manufacturing, and the response has been fantastic. Our solutions provide much-needed tools to diagnosing one of the most widespread issues in the field of ophthalmology: DED. We look forward to further on-boarding these clinics and adding new ones week after week.”