Axim Biotechnologies Inc (OTCMKTS:AXIM) entered a pact with Empowered Diagnostics LLC (EPDL) for large volume production of its RPD (rapid diagnostic test) measuring levels of neutralizing antibodies. As per the terms of the deal, EPDL will engage in the manufacture of flow array tests under the trademark – Tru-19 Neutralizing Antibody Test.
Pompano Beach, Florida based EPDL engages in the distribution and production of economic rapid point of care diagnostic solutions. After acquiring a large capacity producer of diagnostic tests in 2019, the company led innovation to offer efficient and cost-effective test production facilities worldwide.
Axim’s second-generation tests to measure antibodies
Rick Hennessey, CEO of EPDL, said the second-generation tests of Axim measures antibodies, which inhibits disease spreading into the cells. It is the best way to identify immunity compared to other rapid tests available in the market. People need to get assured about their immunity in deciding to attend a school or go to work.
Adds an automated large scale manufacturing capacity
EPDL added an inline automated manufacturing capacity to satisfy the demand for quick coronavirus pandemic. On completing the installation, the company can produce several million tests weekly. The company also entered an alliance with a national sales organization (NSO), which sells in-house tests and services to several independent labs nationwide.
The NSO will concentrate on clinical research companies, large employer groups, professional sports and entertainment venues, and health care organizations. John W. Huemoeller II, CEO of Axim, said the company targets rapid lateral flow quickly to several people with a quick, easy to use and accurate tool to measure their coronavirus neutralizing antibodies.
Axim receives royalties from EPDL for all the tests
In manufacturing alliance with EPDL, Axim aims to manufacture the first in class large volume tests in the US to satisfy the demand. Axim will receive royalties for all the tests produced using its technology and distributed by EPDL. The company applied for EUA (pre-Emergency Use Application) in July 2020 for the test. It is now finalizing the submission of EUA with EPDL as the distributor and manufacturer. A vertically integrated R&D organization – Axim focuses on changing the treatment and diagnostics for COVID-19 and oncology.