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Wednesday, November 30, 2022

The Fascinating Story of NeuCovixTM; Axim Biotechnologies Inc (OTCMKTS: AXIM)

Axim Biotechnologies Inc (OTCMKTS: AXIM) is heating up fast and moving northbound in a hurry after the Company unveiled its first in class COVID-19 rapid diagnostic test for neutralizing antibodies and filed a pre-emergency use authorization with the FDA.

According to AXIM CSO Sergei Svarovsky, PhD “We are hopeful our test fills an important need in these uncertain times. While other tests merely show whether someone was infected with coronavirus, we took it a step further by creating a test that stratifies individuals into those who have neutralizing antibodies, which are essential in preventing reinfection, and those who don’t. The test can be deployed for point of care use in convalescent plasma transfusions to severely ill patients and for evaluating efficacy of upcoming vaccines in generating protective antibodies.”

Axim Biotechnologies Inc (OTCMKTS: AXIM) is a vertically integrated oncology company developing rapid diagnostic tests for the early detection of cancer and proprietary small molecules drugs to treat cancer and block metastasis. The Company is also developing novel antibodies for therapeutic and diagnostic uses for oncological therapeutics.

AXIM is regularly referred to as MJNA investment Company because MJNA owns 22.67 million shares of AXIM or about 43% of the Company. MJNA current investment in AXIM is worth $11.3 million on paper.

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AXIM recently unvailed its NeuCovixTM, a rapid diagnostic test measuring levels of functional neutralizing antibodies that are believed to prevent SARS-CoV-2 from entering the host cells. Unlike currently available serological 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 binding of the virus to host cell receptors. While there are expensive, time consuming laboratory tests that measure neutralizing antibodies, NeuCovixTM differs in that it is a portable, low cost, rapid point-of-care test with results in 10 minutes.

According to management an immediate application of NeuCovixTM, a point-of-care test, is to measure levels of neutralizing antibodies in convalescent plasma so that plasma with the highest levels of neutralizing antibodies can be identified and administered to patients fighting COVID-19.  Without this knowledge, many patients could be undertreated with non-neutralizing plasma and may not benefit from this treatment.

AXIM also announced the filing of a pre-Emergency Use Authorization Application (EUA) and has already initiated dialogue with the FDA in order to finalize its EUA submission. The intellectual property relating to the novel serological test is the subject of Provisional Patent Application No. 63/023,646 “Convalescent Plasma Testing and Treatment” filed on May 12, 2020.

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Currently running up the charts AXIM is an exciting story developing in small caps; the stock is heating up fast and moving northbound in a hurry after the Company unveiled its first in class COVID-19 rapid diagnostic test for neutralizing antibodies and filed a pre-emergency use authorization with the FDA. AXIM announced the development of NeuCovixTM, a rapid diagnostic test measuring levels of functional neutralizing antibodies that are believed to prevent SARS-CoV-2 from entering the host cells. Unlike currently available serological 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 binding of the virus to host cell receptors. While there are expensive, time consuming laboratory tests that measure neutralizing antibodies, NeuCovixTM differs in that it is a portable, low cost, rapid point-of-care test with results in 10 minutes. We will be updating on AXIM when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with AXIM.

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Disclosure: we hold no position in AXIM either long or short and we have not been compensated for this article.

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