AXIM® Biotechnologies Acquiree Sapphire Biotech, Inc. Signs Sponsored Research Agreement with Arizona State University to Develop Metastatic Cancer Inhibitor
SAN DIEGO, Feb. 10, 2020 (GLOBE NEWSWIRE) -- AXIM® Biotechnologies, Inc. (OTCQB: AXIM) (“AXIM® Biotech,” “AXIM” or “the Company”), an international healthcare solutions company targeting oncological and cannabinoid research, announced today that its acquiree Sapphire Biotech, Inc. (“Sapphire”) has signed a Sponsored Research Agreement (“SRA”) with Arizona State University (“ASU”) to conduct preclinical studies using Quiescin Sulfhydryl Oxidase 1 (“QSOX1”) inhibitors as anti-neoplastic compounds.
Sapphire recently announced an agreement to exclusively license rights to pharmaceutical compositions and methods for the treatment of cancer (“Technology”) from Skysong Innovations, LLC, the intellectual property management company for ASU, and Mayo Clinic.
SBI-183, part of Sapphire’s exclusively licensed Technology, has been proven to inhibit tumor growth, invasion and suppresses metastasis of tumors in animal models by inactivating QSOX1, an enzyme important for tumor cell growth, invasion and metastasis. Under this SRA, Sapphire intends to study the ability of the Technology to treat cancer with the goal of developing potent compounds that inhibit tumor metastasis.
“Sapphire Biotech is excited to solidify our relationship with ASU by supporting Dr. Douglas Lake’s ongoing research relating to the anti-inhibitory effects of SBI-183 on cancer metastasis,” said Catalina Valencia, Chief Executive Officer of Sapphire Biotech. “We anticipate that Sapphire scientists working with Sapphire co-founder Dr. Lake will make important discoveries testing the combination of cytotoxic drugs and potent anti-metastatic compounds in breast, kidney and pancreatic models.”
Based on lead anti-metastatic compound, SBI-183, Sapphire’s research team plans to synthesize more potent variants that inhibit the enzymatic activity of QSOX1. The most potent variants will be tested for the ability to suppress metastatic processes in pre-clinical models.
“Since 90% of cancer deaths are due to metastasis, we hope that discoveries found under this SRA bring light to potential new treatments for the disease and make an impact in the number of cancer deaths worldwide,” said John W. Huemoeller II, Chief Executive Officer of AXIM® Biotech. “Sapphire Biotech is humbled by its collaboration with ASU and Mayo Clinic and looks forward to continuing to work together to find potential treatment methods.”
For more information about AXIM, please visit www.aximbiotech.com.
For more information about Sapphire Biotech, please visit www.sapphirebiotech.com.
About AXIM® Biotechnologies
Founded in 2014, AXIM® Biotechnologies, Inc. (AXIM) is a world leader in the research and development of plant and laboratory-derived cannabinoid and oncological therapeutics. AXIM's proprietary research intends to find new ways to diagnose and treat cancer as well as other conditions, such as the intense side effects of chemotherapy, through innovative pharmaceutical delivery systems, cannabinoid-based active pharmaceutical ingredients, and novel therapeutics.
Currently, AXIM is undergoing clinical studies to its cannabinoid pharmaceutical product, MedChew® with dronabinol and acquiree 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. Learn more here. For more information, please visit www.AXIMBiotech.com.
About Sapphire Biotech
Sapphire Biotech, Inc. is a research and development company that has a mission to improve global cancer care through the development of proprietary therapeutics for inhibiting cancer growth and metastasis. Sapphire is also developing a line of novel diagnostics for early cancer detection, response to treatment, and recurrence monitoring. For more information, please visit www.SapphireBiotech.com.
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Released February 10, 2020