Busby to Direct Dry Eye Disease Commercial Launch for Recently Acquired Diagnostic Tech
SAN DIEGO, Sept. 15, 2021 (GLOBE NEWSWIRE) -- AXIM® Biotechnologies, Inc. (OTCQB: AXIM) (“AXIM® Biotech,” “AXIM” or “the Company”), a leader in the development of diagnostic testing for COVID-19, dry eye disease (DED) and Cancer, today announced that it has appointed Jeffrey A. Busby to Senior Vice President – Business Development.
Mr. Busby brings more than 30 years’ experience developing and managing national and international ophthalmic medical device sales and support teams. That experience includes Sr. Regional Management - Alcon Laboratories, Ft. Worth, TX, US Director of Sales VISX, Santa Clara, CA, Director of Global Strategic Accounts, Advanced Medical Optics (AMO) ( Canada, Latin America and Europe). Mr. Busby served for eight years as Chief Commercial Officer for Advanced Tear Diagnostics, Birmingham, AL., and most recently, Chief Revenue Officer Scanoptix, Charlottesville, VA.
In this newly created position, Mr. Busby will be responsible for the launch and commercialization of the Company’s recently announced acquisition of diagnostic technologies for dry eye disease (DED) that includes two FDA cleared 510(k) authorizations for the commercial sale of two ophthalmic “point of care” diagnostic lab tests -- which are approved for reimbursement by both CMS and private insurance and will be used by both Optometrists and Ophthalmologists.
“We are committed to building AXIM into a premier medical diagnostics company and driving revenue,” said John W. Huemoeller II, Chief Executive Officer of AXIM® Biotech. “Jeff has a long track record of commercial success in the ophthalmic technology sector, and we believe will hit the ground running.”
Mr. Huemoeller added “Our acquisition of these two breakthrough DED diagnostic tests give the Company a path to generating substantial revenue and provides a strong pipeline for additional new diagnostic tests. Commercial launch of our first DED test is slated for early 2022 and I am excited for Jeff to lead that initiative.”
Commenting on his new role, Mr. Busby said, “As a successful veteran in the ophthalmic industry, I believe AXIM’s DED testing technology will positively transform the market helping provide accurate diagnoses for the millions of DED sufferers.”
On August 3, AXIM announced it signed a binding term sheet for AXIM to acquire the DED diagnostic tech package. AXIM has since entered into a definitive agreement for the transaction acquiring the two FDA cleared 510(k)’s for the commercial sale of the ophthalmic diagnostic lab tests and is in the process of the transferring the remaining technology. The tests acquired are part of a highly specialized point-of-care (POC) lab testing system designed specifically to assist eye-care physicians in detecting and quantifying a variety of biomarkers associated with external ocular disorders and are approved for reimbursement.
According to the American Academy of Ophthalmology, approximately 20 million people in the US (344 million people worldwide) have DED and that number is growing in both young and old adults, making it imperative that clinicians determine how best to diagnose and treat it. Additionally, the American Journal of Ophthalmology states as of July 2017 an estimated six million people reported having experienced DED symptoms but had not been diagnosed.
About AXIM® Biotechnologies
Founded in 2014, AXIM® Biotechnologies, Inc. (AXIM) is a vertically integrated research and development company focused on changing the landscape of diagnosis of SARS-CoV-2 (COVID-19), dry eye disease (DED) and Oncological indications. AXIM’s COVID-19 neutralizing antibody test 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 ophthalmological conditions such as DED. For more information, please visit www.AXIMBiotech.com.
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 candidates will be successfully adapted and even if the Company’s diagnostic candidates are successful, it may generate only limited revenue and profits for the Company. AXIM’s SEC reports and filings, including our Annual Report on Form 10-K filed on April 15, 2021 and our subsequent quarterly report on Form 10-Q filed on May 24, 2021, 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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