Medical Marijuana, Inc. Investment Company AXIM Biotechnologies Unveils World’s First COVID-19 Rapid Diagnostic Test for Neutralizing Antibodies and Files Pre-Emergency Use Authorization

SAN DIEGO, July 21, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Medical Marijuana, Inc. (OTC: MJNA) (the "Company"), the first-ever publicly traded cannabis company in the United States that launched the world's first-ever cannabis-derived nutraceutical products, brands and supply chain, announced today that its investment company AXIM Biotechnologies, Inc. (OTCQB: AXIM) (“AXIM Biotech” or “AXIM”) has announced the development of a rapid diagnostic test measuring levels of functional neutralizing antibodies that are believed to prevent SARS-CoV-2 (COVID-19) from infection. 

Medical Marijuana, Inc. CEO Dr. Stuart Titus commented: “Our portfolio is proud to see the innovation that AXIM has showcased over the past few months and we are optimistic that this test could help make a difference in achieving our end-goal of overcoming this virus. Personally, I think that this kind of ingenuity will set us apart from our competitors and allow us to continue to grow the other facets of our business.”

Unlike currently available COVID-19 tests that detect an antibody response to the virus, AXIM’s rapid 10-minute test measures a specific subpopulation of antibodies to block the virus from attacking a person’s body. While there are expensive, time-consuming laboratory tests that measure neutralizing antibodies, this test could be offered with easier convenience, lower cost and much faster -- results in 10 minutes -- than any other test on the market.

AXIM’s test could also help ensure that vaccines elicit high levels of neutralizing antibodies. When a vaccine is available, manufacturers can employ this test to evaluate its effectiveness in vaccine recipients.

“We have succeeded at creating a test that is cost-efficient, accurate and fast – hopefully serving as an ‘Immunity Passport’ for vaccine developers as they begin larger Phase II and III clinical trials,” AXIM Biotech CEO John W. Huemoeller II said.

AXIM has filed a Pre-Emergency Use Authorization and is compiling the necessary data from numerous tests recently completed that are needed to apply for an EUA from the FDA.  AXIM makes clear that while the Company intends to file an EUA with the U.S. FDA, the U.S. FDA has not yet approved the Company’s diagnostic test and there is no guarantee that any EUA once filed will be approved.