M&A
confidence high
sentiment positive
materiality 0.65
AXIM Biotech signs binding term sheet to acquire FDA-cleared dry eye tests, paying 7M shares
AXIM BIOTECHNOLOGIES, INC.
- AXIM to acquire two FDA-cleared dry eye diagnostic tests from Advanced Tear Diagnostics for 7M restricted shares.
- Tests include 10-minute lactoferrin assay and ocular IgE test; commercial launch targeted for early 2022.
- Dry eye disease affects ~20M in US; global DED diagnostics market projected at $9.8B by 2030.
- Binding term sheet in effect; definitive agreement and closing expected by October 1, 2021.