Medical Marijuana, Inc. owns appx. 18% of AXIM® Biotechnologies.
Founded in 2014, AXIM® Biotechnologies, Inc. (AXIM) is a vertically integrated research and development company focused on changing diagnosis and treatment for oncology and SARS-CoV-2 (COVID-19). AXIM’s is the first rapid diagnostic test measuring levels of functional neutralizing antibodies that are believed to prevent SARS-CoV-2 from entering the host cells. Additionally, the Company is developing rapid diagnostic tests for the early detection of cancer and proprietary small molecules drugs to treat cancer and block metastasis.
In early 2020, the Company shifted its focus to cancer care and completed the acquisition of leading oncology research and development company Sapphire Biotech, Inc. (“Sapphire”). Sapphire has licensed a leading compound, called SBI-183, which inhibits and suppresses invasion in vitro and metastasis in vivo.
Sapphire holds exclusive license rights to SBI-183 and is studying the compound’s ability to treat cancer. In February, Sapphire signed a Sponsored Research Agreement with Arizona State University to conduct preclinical studies to develop a metastatic cancer inhibitor using the licensed SBI-183 compound. In March, Sapphire completed pre-clinical drug studies on a new compound, SPX-1009, demonstrating 10 times greater potency than its parent compound, SBI-183, in inhibiting metastasis.
In June 2020, Sapphire, in pre-clinical animal drug studies, tested over 70 analogs of SBI-183 and discovered that SPX-1009 was tenfold more potent in comparison to SBI-183, in suppressing tumor invasion and metastasis in vitro. Testing results demonstrated in vitro that SPX-1009 suppressed invasion of breast, kidney and pancreas tumor cells in 2D and 3D invasion assays at tenfold lower concentrations than the parent compound SBI-183.
In addition to its upcoming research on cancer-treating compounds, Sapphire is also developing a novel line of diagnostics for early cancer detection, response to treatment and recurrence monitoring. One of Sapphire’s diagnostic tools is currently being evaluated in a clinical trial for its potential to diagnose pancreatic cancer.
Sapphire’s Diagnostics Product Portfolio includes:
– Universal Companion Diagnostic Test: Sapphire scientists have developed proprietary assays to detect QSOX1 levels in patients undergoing cancer treatment. The universal companion diagnostic test is intended to measure the response to treatment and to monitor post-treatment recurrence by tracking QSOX1 levels in blood. Animal studies are expected to commence imminently.
– Immunohistochemistry (IHC) Diagnostic Test: The Company is developing an IHC test, using proprietary anti-QSOX1 antibodies for diagnosis of cancer. The Company’s goal is to complete the development of a commercial prototype in the first quarter of 2021.
– Universal Cancer Biomarker: The Company has been studying QSOX1 levels in the blood of cancer patients to make the correlation between QSOX1 levels with various cancer stages. The ultimate goal is to validate QSOX1 as a blood biomarker for the presence of cancer in asymptomatic individuals. Breast, lung and pancreatic cancer-focused validation studies are planned.
Due to the sudden onset of the COVID-19 pandemic, AXIM made the strategic decision to expand its research and development activities to help the country find a way to improve neutralizing antibody testing and vaccine development.
Thus far, AXIM has developed two diagnostic tests for COVID-19 neutralizing antibodies, Tru-19TM and NeuCovix-HTTM.
Tru-19TM is the first ever rapid diagnostic test to measure a specific subpopulation of antibodies that block binding of the virus to host cell receptors. While there are expensive, time consuming laboratory tests that measure neutralizing antibodies, Tru-19TM differs in that it is a portable, low cost, rapid point-of-care test with results in just a few minutes.
An immediate application of Tru-19TM 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.
Another application is to help ensure that vaccines elicit high levels of neutralizing antibodies. When a vaccine is available, manufacturers can employ the rapid point-of-care test to evaluate protective immune responses in vaccine recipients.
AXIM is in the process of filing for an Emergency Use Authorization for the test from the FDA and once it is filed, the company will begin marketing the test to medical clinics as well as enrolling patients into a clinical trial to measure the test’s accuracy.
NeuCovix-HTTM is a high throughput (HT) patent-pending diagnostic test that measures levels of functional antibodies in plasma or serum that neutralize SARS-CoV-2, the virus that causes COVID-19. Unlike current serology tests for COVID-19 that qualitatively detect antibodies to the virus, NeuCovix-HTTM quantitatively measures functional antibodies that block binding of the virus to host cell receptors.
NeuCovix-HTTM will benefit clinical laboratories running batches of thousands of tests per week to measure levels of neutralizing antibodies in COVID-19 convalescent plasma. NeuCovix-HTTM distinguishes which convalescent plasmas contain low and high levels of neutralizing antibodies so that patients fighting COVID-19 can be treated with plasma from donors with the highest levels of neutralizing antibodies. It solves the problem of vaccine manufacturers’ requirement in Phase 3 clinical trials to measure neutralizing antibody levels longitudinally in 30,000 volunteer recipients using expensive and laborious virus-based assays. Clinical centers participating in the vaccine trials could employ NeuCovix-HTTM tests to measure neutralizing antibodies from vaccine recipients in thousands of plasma samples per day.
Visit the AXIM® Biotechnologies website to learn more.
John W. Huemoeller II: Chief Executive Officer
Mr. Huemoeller has over 35 years experience in investment banking, finance, sales and marketing. Mr. Huemoeller began his career as an investment advisor in 1982 with M.L. Stern & Company a municipal bond firm in California and became a registered principal in 1985. He has previously been registered with various state insurance boards, as well as with the Chicago Board of Trade as a commodities broker. Mr. Huemoeller has worked for Smith Barney, Drexel Burnham, Prudential Securities, and Paine Webber and has extensive experience in stocks, bonds, commodities, mergers and acquisitions, leveraged buyouts and private placement transactions.