Miami, FL – June 1, 2020 (EmergingGrowth.com NewsWire) — EmergingGrowth.com, a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies, reports on AXIM(R) Biotechnologies, Inc. (OTCQB: AXIM).
Axim Biotechnologies, Inc., a biotechnology company, researches, develops, produces, and sells pharmaceutical, nutraceutical, and cosmetic products. It also engages in the extraction and purification of cannabinoids technologies based on its proprietary technologies. The company sells its products through Internet, direct-to-consumer health and wellness stores, collectives, cooperatives, and affiliate sales and master distributors. Axim Biotechnologies, Inc.
Average daily volume for AXIM 400 thousand shares. Today’s news has caused the volume to increase to over 427 thousand shares in the morning hours of trading.
AXIM(R) Biotechnologies, Inc. Press Release:
SAN DIEGO, June 01, 2020 (GLOBE NEWSWIRE) — AXIM(R) Biotechnologies, Inc. (OTCQB: AXIM) (“AXIM(R) Biotech,” “AXIM” or “the Company”), an international healthcare solutions company targeting oncological research, announced today that its subsidiary Sapphire Biotech, Inc. (“Sapphire”) has started pre-clinical animal drug studies on its new compound, SPX-1009.
“We look forward to the next step in the race to finding a cure for cancer,” said John W. Huemoeller II, Chief Executive Officer of AXIM(R) Biotech. “After very positive in vitro studies, this pharmacokinetic animal study will tell us whether we have a potential drug candidate for humans. Because it is an analog of a drug that has already completed animal studies, we expect positive results.”
Quiescin Sulfhydryl Oxidase 1 (QSOX1), an enzyme that is over-expressed by tumor cells in numerous cancers, has been shown to be involved in cancer invasion and metastasis. Earlier this year, Sapphire acquired exclusive license rights to a small molecule, SBI-183. SBI-183 has been proven to inhibit the enzymatic activity of QSOX1 and suppress tumor cell invasion in vitro and metastasis of MDA-MB-231 breast tumor cells in vivo. SBI-183 also suppressed human xenograft primary kidney tumor growth by 86 percent compared to controls.
Sapphire scientists have generated and tested over 90 analogs of SBI-183 and discovered that one analog, SPX-1009, was tenfold more potent than SBI-183 in suppressing tumor invasion and metastasis in vitro. Further testing revealed 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.
Oral and intravenous therapy (IV) formulations of SPX-1009 are being tested in pharmacokinetic animal studies to determine the optimal route of treatment.
“We are hopeful that SPX-1009 will block metastasis in patients which, after all, is what causes death in the vast majority of cancer patients, ” said Catalina Valencia, Chief Executive Officer of Sapphire Biotech.
For more information about AXIM, please visit www.aximbiotech.com.
About AXIM(R) Biotechnologies
Founded in 2014, AXIM(R) Biotechnologies, Inc. (AXIM) is a vertically integrated oncology company developing 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 and new cannabinoid molecules for oncological therapeutics.
Currently, Sapphire Biotech, Inc.’s diagnostic tool is being used to study the company’s enzyme biomarker to detect pancreatic cancer earlier than circulating tumor cells. For more information, please visit www.AXIMBiotech.com.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of AXIM(R) Biotechnologies, Inc. to be materially different from the statements made herein.
AXIM(R) Biotechnologies does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA).
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