TIDMAKR
Akers Biosciences, Inc.
01 December 2015
Akers Biosciences, Inc.
Akers Biosciences Updates on Joint Venture in China
Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), ("Akers
Bio" or the "Company"), a developer and supplier of screening and
testing technologies designed to deliver rapid health information
to consumers and healthcare providers, announces an update on the
progress of its 19.9%-owned Chinese joint venture company, Hainan
Savy Akers Biosciences, Ltd ("Savy Akers" or the "Joint Venture").
Savy Akers was established in October, 2014 to commercialize a
number of Akers Bio's rapid diagnostic screening and testing
products in China (excluding PIFA Heparin/PF4 Rapid Assay products
for which Chinese distribution is handled by NovoTek).
The Company is pleased to announce that Savy Akers' 10,000
square foot production facility in Haikou National Hi-Tech
Industrial Zone, Hainan province, is now fully operational. This
facility is an addition to Savy Akers' 2,500 square foot
headquarters and research and development facility in the same
industrial zone. The production facility is fully staffed and
regulatory approval for the manufacturing of products is expected
imminently.
The Joint Venture has begun multi-channel marketing - including
through major Chinese social media and e-commerce platforms - of
several of Akers Bio's products, with a special emphasis on rapid
breath tests in the prolific areas of diabetes, weight loss and
fitness. The brands now being marketed in China include
BreathScan(R) DKA (a medical test for diabetic ketoacidosis), the
METRON(R) Breath Ketone Test (a test for an optimal metabolic state
for weight loss) and Ke Tong (a fitness test).
Overall rates of obesity are estimated by the World Health
Organization to be as high as 20% in some Chinese cities, resulting
in the world's largest diabetes epidemic. There are now estimated
to be approximately 20 million individuals in China suffering from
Type 1 diabetes. Savy Akers has completed clinical trials, in
accordance with the China Food and Drug Administration ("CFDA"),
for the Company's single-use, non-invasive, breath device,
BreathScan(R) DKA, to rapidly screen for diabetic ketoacidosis.
Akers Bio's test provides real-time diagnostic information that
allows diabetics and/or their caregivers/healthcare providers to
determine if they have a severe level of ketone (acid) build up in
their body. Such ketone build up can cause a life-threatening
medical emergency called ketoacidosis. The clinical trials in China
of BreathScan(R) DKA demonstrated 100 per cent correlation with
blood-based reference laboratory testing procedures and the Joint
Venture expects the test to be approved in the very near
future.
The METRON(R) Breath Ketone Test, the only disposable
breath-based diagnostic device that rapidly determines if the
subject is in an optimal state for weight loss, known as Ketosis,
is being marketed on China's WeChat e-commerce platform. The
METRON(R) Breath Ketone Test is seeking to address the growing
awareness amongst Chinese consumers of the need to combat obesity,
which is now a major health concern.
The Ke Tong assay is being targeted to fitness enthusiasts
seeking to be in a state of Ketosis for optimum athletic
performance. This product is also being marketed through WeChat as
well as JD.com.
"In only a year since formation of the Joint Venture, we have
established a substantial, fully operational production facility in
China," said Raymond F. Akers, Jr. PhD, Co-founder and Executive
Chairman. "China represents a huge potential market for several of
the Company's rapid diagnostic tests - and none more so than for
our tests in the areas of diabetes and weight loss. The scale of
the obesity and diabetes problems in China requires simple, fast
and affordable solutions that enable consumers and medical
practitioners to monitor aspects of health in a more efficient way.
We are extremely excited to have a world-class commercial entity on
the ground in China addressing these - and other - serious health
concerns," added Dr. Akers.
About Akers Biosciences, Inc.
Akers Biosciences develops, manufactures, and supplies rapid
screening and testing products designed to deliver quicker and more
cost-effective healthcare information to healthcare providers and
consumers. 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 product 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.akersbio.com. Follow us on Twitter @AkersBio.
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.
For more information:
Akers Biosciences, Inc.
Raymond F. Akers, Jr. PhD
Executive Chairman of the Board
Tel. +1 856 848 8698
Taglich Brothers, Inc. (Investor Relations)
Chris Schreiber
Tel. +1 917 445 6207
Email: cs@taglichbrothers.com
finnCap (UK Nominated Adviser and Broker)
Adrian Hargrave / Scott Mathieson (Corporate Finance)
Steve Norcross (Broking)
Tel. +44 (0)20 7220 0500
Vigo Communications (Public Relations)
Ben Simons / Fiona Henson
Tel. +44 (0)20 7016 9570
Email: akers@vigocomms.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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