SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 1.01 Entry into a Material Definitive Agreement.
On September 19, 2022, AXIM Biotechnologies, Inc. (“AXIM”) issued a press release which announced that AXIM had entered into a five (5) year License and Distribution Agreement (“Agreement”) with Verséa Ophthalmics, LLC (“Verséa”) for the global sale and distribution of its proprietary ocular diagnostic solutions.
The Agreement provides Verséa with the exclusive right to commercialize AXIM’s proprietary portfolio of point-of-care lab tests as well as its associated reader and includes three of AXIM’s key biomarker tests: the Ocular Immunoglobulin E (IgE) test, the Lactoferrin test, and the future MMP-9 test. Each test is designed for use at the point of care and is read by AXIM’s associated test reader system. Each test requires the collection of 0.5 microliters in tears and provides quantitative results in under 10 minutes, an industry-leading return time. Verséa plans to launch both the novel IgE and Lactoferrin tests at the 2022 American Academy of Ophthalmology and Optometry conferences. The MMP-9 test is anticipated to follow in the next 18-24 months. The to comply with the terms of the Agreement, Verséa must satisfy specified annual minimum sales commitments and product purchases.
Item 7.01 Regulation FD Disclosure
The information set forth under this Item 7.01, including Exhibit 99.1, is being furnished and, as a result, such information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such Section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01 - Financial Statements and Exhibits
(d) Exhibits
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10.1 |
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99.1 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AXIM BIOTECHNOLOGIES, INC. | |
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Dated: September 19, 2022 | By: | /s/ John Huemoeller, II
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| Name: John Huemoeller, II |
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| Chief Executive Officer |