AXIM Biotechnologies, Inc. announced that it has signed an exclusive global commercial partnership agreement with Verséa Ophthalmics, LLC, a business division of Verséa Holdings, Inc. (“Verséa”) The agreement will provide Verséa with the exclusive commercial right to AXIM's proprietary portfolio of point-of-care (POC) lab testing readers and three key biomarker diagnostic tests designed specifically to assist eye-care physicians in detecting and quantifying biomarkers associated with aqueous deficient Dry Eye Disease and non-specific allergic conjunctivitis. The three AXIM's key biomarker tests – the Ocular Immunoglobulin E (IgE) test, the Lactoferrin test, and the future MMP-9 test – require the collection of 0.5 microliters in tears and provide quantitative results in under 10 minutes. Verséa plans to launch IgE and Lactoferrin tests at the upcoming 2022 American Academy of Ophthalmology (AAO) and American Academy of Optometry (AAOPT) conferences.

The MMP-9 test is anticipated to follow in the next 18-24 months. In recent months, AXIM has been preparing for the scaling of production of its tests in anticipation of an agreement such as the one reached with Verséa and is now prepared to support new orders associated with the agreement and subsequent launch. The agreement is an illustration of Verséa's recent commitment to the eye care space following its appointment of Dr. Rob Sambursky, MD, as their President of Corporate and of Verséa Ophthalmics, a new business division set to provide innovative solutions for the diagnosis, treatment and management of ocular surface diseases.

Lactoferrin is a protein contained in tears that protects the ocular surface with its antimicrobial and anti-inflammatory properties. Lower concentrations of lactoferrin have been demonstrated in patients with dry eye, which is associated with decreased aqueous tear production. Ocular Immunoglobulin E (IgE) is a biomarker for allergies and a key biomarker primarily associated with allergic conjunctivitis.

Both tests are FDA-cleared and have dedicated Medicare CPT codes. The third test, a quantitative tear Matrix Metalloproteinase 9 (MMP-9) test, is a significant advancement in the measurement of the intensity of inflammation affecting dry eye patients. Being a quantitative test for MMP-9, this test allows for a more objective classification and management of dry eye disease as well as subsequent pre-surgical and post-surgical therapeutic guidance.

Post-surgical complications, such as worsening symptoms of dry eye and refractive error, may be mitigated by identifying and treating dry eye prior to cataract and refractive surgery corneal measurements.