AXIM® Biotechnologies Point-of-Care Diagnostic Test Platform Sales Commence With Verséa Ophthalmics’ Commercial Launch at AAO 2022

AXIM BIOTECHNOLOGIES, INC
AXIM BIOTECHNOLOGIES, INC

Sales of Point-of-Care Diagnostic Tests for Ocular Surface Disease Commence at the American Academy of Ophthalmology Annual Meeting Through Exclusive Partnership

SAN DIEGO, Sept. 29, 2022 (GLOBE NEWSWIRE) -- AXIM Biotechnologies, Inc. (OTCQB: AXIM) (“AXIM Biotech,” “AXIM” or “the Company”), an international healthcare solutions company targeting ocular surface diseases, announced today that it has started selling its ophthalmic point-of-care (POC) diagnostic product portfolio in advance of the American Academy of Ophthalmology Annual Meeting through its exclusive commercialization partner Verséa Ophthalmics, LLC, a subsidiary of Verséa Holdings, Inc. (“Verséa”), one of the fastest growing healthcare companies in the U.S. The annual meeting is held at McCormick Place in Chicago from September 30 through October 3 and representatives of Verséa will be exhibiting the product lines to ophthalmologists at Booth 1251.

Verséa will be showcasing two of AXIM’s recently commercialized ocular surface POC diagnostic tests that measure quantitative tear levels of Lactoferrin and Immunoglobulin E (IgE) using a digital 10 minute portable reader. Both tests are FDA-cleared and have dedicated Medicare CPT codes that allow for rapid POC diagnosis of common ocular conditions such as dry eye disease (DED) and allergic conjunctivitis. Historically, diagnosis of DED has been difficult to quantify and inefficient; however, through AXIM’s new tests, eye care professionals are able to quickly and accurately detect levels of either Lactoferrin or IgE, leading to more definitive diagnosis and more specific therapeutic management and treatment monitoring.

“This event marks the first time that eye care professionals will get to see and experience how our tests work first-hand,” said John W. Huemoeller II, Chief Executive Officer of AXIM® Biotech. “Working with Verséa to launch our product line at AAO 2022 has been a long time coming and we couldn’t be more excited for what’s to come from this launch and the ongoing partnership. We hope to not only secure orders at the AAO annual meeting but also begin to build long-term relationships within the ophthalmic industry that will lead to greater awareness of our solutions.”

Lactoferrin is a tear protein that protects the ocular surface through antimicrobial and anti-inflammatory properties. Lower concentrations of lactoferrin have been demonstrated in patients with dry eye, which is associated with decreased aqueous tear production. Ocular Immunoglobulin E (IgE) is a biomarker for allergies and a key biomarker primarily associated with allergic conjunctivitis. Mild allergic conjunctivitis is frequently challenging to clinically distinguish from dry eye. AXIM’s diagnostic technology allows for eye doctors to not only identify and differentiate clinically overlapping conditions but also drive more targeted therapeutic interventions. The tests provide doctors with access to real-time quantitative results at the point-of-care, allowing them to better prescribe a therapy to patients, leading to overall improved personalized patient care.

To learn more or to schedule a time to come to the booth to view the tests, please contact ophthalmics@versea.com.

About AXIM® Biotechnologies
Founded in 2014, AXIM® Biotechnologies, Inc. (AXIM) is a vertically integrated research and development company focused on improving the landscape for the diagnosis of ophthalmological conditions such as Dry Eye Disease (DED) through rapid diagnostic tests. The Company owns two of the only five FDA Cleared Diagnostic tests for Dye Eye Disease. For more information, please visit www.AXIMBiotech.com.

About Verséa Holdings, Inc.
Verséa Ophthalmics, LLC (“Verséa”), a subsidiary of Verséa Holdings, Inc. headquartered in Tampa, FL, is a U.S. healthcare company founded by experienced business executives and prominent scientific medical experts, all committed to transforming scientific discoveries into applicable healthcare and wellness solutions that are critical to improving patients’ lives. To learn more, visit: www.versea.com.

Forward-Looking Statements
The statements made by Axim 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 Axim’s 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 of Axim Biotechnologies, Inc. Actual results could differ materially from those projected due to there being no assurance that our diagnostic candidate will ever be approved for use by the U.S. FDA or any equivalent foreign regulatory agency. Further, Axim’s eye care diagnostic products that are FDA cleared may not be manufactured in large enough quantities or that third parties with established eye care physicians will enter into agreements or purchase from the Company, and even if the Company’s diagnostic candidates are successful, they may generate only limited revenue and profits for the Company. Various other factors are detailed from time to time in Axim’s SEC reports and filings, including our Annual Report on Form 10-K filed on April 15, 2022, and other reports we file with the SEC, which are available at www.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.

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