Akers Biosciences Signs Distribution Agreement for Infectious Disease and Cholesterol Rapid Tests in Middle East, Australia, ...
May 07 2014 - 2:00AM
Akers Biosciences, Inc. (Nasdaq:AKER) (LSE:AKR) (the "Company" or
"ABI"), a leading designer and manufacturer of rapid diagnostic
screening and testing products, announces a distribution agreement
with Thirty Six Strategies General Trading LLC ("36S"), for the
sale of the Company's PIFA PLUSS Infectious Disease Rapid Assay
product line and Tri-Cholesterol "Check".
The three year exclusive agreement is subject to performance
minimum purchase requirements. 36S is permitted to market the
Company's products in Australia, Singapore, the United Arab
Emirates and Oman.
Under the terms of the distribution agreement 36S, a Dubai-based
procurement solutions company with a distribution network
throughout the Middle East and Australia, is expected to
immediately begin marketing the Company's tests to a large and
varied customer base including hospitals, paramedic and emergency
services, non-governmental organizations and military forces. 36S
will focus on distribution of the Company's rapid HIV, Hepatitis B,
Malaria and Dengue Fever tests; as well as its rapid cholesterol
test, Tri-Cholesterol "Check".
ABI's PIFA Infectious Disease Rapid Assays function on an
easy-to-obtain finger stick blood sample and integrate blood sample
processing into the test procedure through the Company's Rapid
Blood Cell Separation Technology, seraSTAT.
The Company's Tri-Cholesterol "Check", also initiated through a
finger stick blood sample, is the only combined rapid test which
provides an estimate of both Total and High Density Lipoprotein
("HDL") cholesterol levels thereby providing an estimate of the
subject's Low Density Lipoprotein ("LDL") levels.
"Cardiovascular disease and related risk-factors like high
cholesterol are on the rise globally," said Raymond F. Akers Jr.,
Ph.D, Executive Chairman. "The Middle East, Australia and Singapore
are no exception and, in fact, recent studies in the UAE
categorized the cardiovascular health risk as being on the edge of
a potentially serious epidemic. The geographies covered in the 36S
distribution agreement are therefore a natural extension for the
Company's rapid cholesterol tests," continued Dr. Akers.
"Similarly our suite of rapid infectious disease tests are
pertinent to these markets where rapid, single-use, portable
devices that do not require special instrumentation are key to any
infectious disease-containment solution – particularly within
communities living in close-confinement such as military forces,"
added Dr. Akers.
ABOUT AKERS BIOSCIENCES, INC.
Akers Biosciences develops, manufactures, and supplies rapid,
point of care screening and testing products designed to bring
healthcare information both rapidly and directly to the consumer or
healthcare provider. The Company has advanced the science of
diagnostics while responding to major shifts in healthcare through
the development of several proprietary platform technologies. The
Company's state-of-the-art rapid diagnostic assays can be performed
virtually anywhere in minutes when time is of the essence. The
Company has aligned with major healthcare companies and high volume
medical products distributors to maximize product offerings, and to
be a major worldwide competitor in diagnostics. Additional
information on the Company and its products can be found at
www.akersbiosciences.com.
Cautionary Statement Regarding Forward Looking
Statements
Statements contained herein that are not based upon current or
historical fact are forward-looking in nature and constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements reflect the Company's
expectations about its future operating results, performance and
opportunities that involve substantial risks and uncertainties.
These statements include but are not limited to statements
regarding the intended terms of the offering, closing of the
offering and use of any proceeds from the offering. When used
herein, the words "anticipate," "believe," "estimate," "upcoming,"
"plan," "target", "intend" and "expect" and similar expressions, as
they relate to Akers Biosciences, Inc., its subsidiaries, or its
management, are intended to identify such forward-looking
statements. These forward-looking statements are based on
information currently available to the Company and are subject to a
number of risks, uncertainties, and other factors that could cause
the Company's actual results, performance, prospects, and
opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements.
CONTACT: For more information:
Raymond F. Akers, Jr. PhD
Executive Chairman of the Board
Akers Biosciences, Inc.
Tel. +1 856 848 8698
Brendan Hopkins
RedChip Companies, Inc. (US Investor Relations)
Tel. +1 407 644 4256 x134
Antony Legge / James Thomas
Daniel Stewart (Nomad and Broker)
Tel. +44 (0)20 7776 6550
Ben Simons / Alexandra Roper
Vigo Communications (UK Investor Relations)
Tel. +44 (0)20 7016 9570
akers@vigocomms.com
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