Akers Biosciences and Premas Biotech Announce Successful Completion of Vaccine Prototype & Obtained First Images of VLP
May 14 2020 - 9:33AM
Akers Biosciences, Inc. (the “Company”) (NASDAQ: AKER), a developer
of rapid health information technologies, today announced that
Premas Biotech, its partner in the development of a vaccine
candidate that is seeking to address the COVID-19 pandemic, has
successfully completed its vaccine prototype. Premas obtained
transmission electron microscopic (TEM) images of the recombinant
virus like particle (VLP) assembled in yeast during the past week
which marks a significant milestone and is believed by Premas to be
one of the first in the world for VLP of SARS-CoV-2 virus. Premas,
which is primarily responsible for the development of the vaccine
candidate through proof of concept, is collating data at this time
and, collectively with Akers, moving forward with conversations
with regulatory authorities in India and continuing to develop a
regulatory strategy in the United States. A manufacturing protocol
has also been established and large-scale production studies have
been initiated for the vaccine candidate.
Prabuddha Kundu, Co-Founder and Managing
Director at Premas Biotech, commented, “We are delighted to
announce the three protein VLP formation as confirmed from the TEM
images and other orthogonal analysis that have captured the
distinct structural features of the VLP. The vaccine candidate is
based on the three COVID-19 proteins; Spike, Envelope and Membrane.
We believe that this combination of three proteins distinguishes us
from other companies seeking to develop COVID-19 vaccines and makes
the VLP promising as we work to proceed into pre-clinical
trials.”
Christopher Schreiber, Executive Chairman of
Akers, stated, “We are encouraged by the recent progress made with
Premas. As our next step, we will present our findings to
regulatory authorities with the intent of initiating pre-clinical
trials this summer. We will keep shareholders informed as we
proceed through our milestones.”
About Premas Biotech
Premas Biotech develops novel technologies and
partners with global biopharmaceutical companies to build and
develop novel biotherapeutic & vaccine candidates. Premas' key
focus areas are infectious diseases, cancer, metabolic
disorders and inflammation. Besides D-CryptTM the difficult to
express proteins expression platform, Premas’ leading technologies
include Axtex-4D™: an ex-vivo tissueoid generation platform and
C-Qwence™: a fully human naive India based scFv antibody library.
Further information is available on the Company’s
website: www.premasbiotech.comContact email:
contact@premasbiotech.com
About Akers Biosciences Inc.
Akers Biosciences is pursuing the development of
a newly acquired license to a coronavirus vaccine candidate. In
addition, the company develops, manufactures, and supplies rapid,
point of care screening and testing products designed to bring
health related information directly to the patient or clinician in
a timely and cost-efficient manner. Akers has previously announced
that that it had identified the hemp and minor cannabinoid
sectors as promising adjacent opportunities that could benefit from
Akers’ existing facility and its core competencies.
Additional information on the company and its products can be
found at www.akersbio.com.
Forward-Looking Statements
Certain statements in this press release that
are forward-looking and not statements of historical fact are
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements include, but are not limited to,
statements of historical fact, and may be identified by words such
as “anticipates,” “assumes,” “believes,” “can,” “could,”
“estimates,” “expects,” “forecasts,” “guides,” “intends,” “is
confident that”, “may,” “plans,” “seeks,” “projects,” “targets,”
and “would,” and their opposites and similar expressions are
intended to identify forward-looking statements. Such
forward-looking statements are based on the beliefs of management
as well as assumptions made by and information currently available
to management. Actual results could differ materially from those
contemplated by the forward-looking statements as a result of
certain factors, including, but not limited to, changes in the
market acceptance of the company’s products and services;
challenges we may face in identifying, acquiring and operating new
business opportunities; the outcome of litigation or other
proceedings to which the company is subject or which it may become
subject to in the future; increased levels of competition; changes
in political, economic or regulatory conditions generally and in
the markets in which the company operates; the company’s
relationships with its key customers; adverse conditions in the
industries in which the company’s customers operate; the company’s
ability to retain and attract senior management and other key
employees; the company’s ability to quickly and effectively respond
to new technological developments; the company’s ability to protect
its trade secrets or other proprietary rights, operate without
infringing upon the proprietary rights of others and prevent others
from infringing on the company’s proprietary rights; the company’s
ability to achieve the expected benefits and costs of the
transactions related to the acquisition of Cystron Biotech, LLC,
including, the timing of, and the company’s ability to, obtain and
maintain regulatory approvals for clinical trials of the company’s
vaccine product candidate, the timing and results of the company’s
planned clinical trials for its vaccine product candidate, the
amount of funds the company requires for its vaccine product
candidate, and the company’s ability to maintain its license with
Premas Biotech PVT Ltd; and the impact of the recent COVID-19
outbreak on the company’s results of operations, business plan and
the global economy. A discussion of these and other factors,
including risks and uncertainties with respect to the company, is
set forth in the company’s filings with the SEC, including its
annual report on Form 10-K filed with the Securities and Exchange
Commission, as may be supplemented or amended by the company’s
Quarterly Reports on Form 10-Q. The company disclaims any intention
or obligation to revise any forward-looking statements, whether as
a result of new information, future events or otherwise, except as
required by law.
Contact:
Investor
Relations:
Hayden IRBrett Mass, Managing PartnerPhone: (646) 536-7331Email:
brett@haydenir.comwww.haydenir.com
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