TIDMAKR
RNS Number : 6905Q
Akers Biosciences, Inc.
01 December 2016
1 December 2016
This announcement contains inside information
Akers Biosciences, Inc.
US Distribution Agreement for Rapid Cholesterol Self-test
Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), (the
"Company" or "Akers Bio"), a developer of rapid health information
technologies, has signed a distribution agreement with First Check
Diagnostics, LLC ("First Check"), the major global diagnostic
device and service provider, to serve as the exclusive distributor
of the Company's rapid cholesterol self-test in the United States
under their "First Check" brand.
First Check products are sold through major retailers including,
CVS, Rite Aid, Target, Kmart, Meijer, Giant Eagle, Stop & Shop,
Giant and ShopKo.
Akers Bio's Tri-Cholesterol "Check" test is the only combined
rapid test which provides an estimate of a person's Total
cholesterol as well as their High Density Lipoprotein ("HDL")
cholesterol levels - their 'good cholesterol'; thereby providing an
estimate of a person's Low Density Lipoprotein ("LDL") levels -
their 'bad cholesterol'. These features are essential to accurately
differentiating between a person's 'good' and 'bad' cholesterol
thereby making it a truly effective screening test for high
cholesterol.
The Tri-Cholesterol "Check" test is disposable, uses just a
finger-stick blood sample and gives a result in only 5 minutes. The
test may be sold immediately over-the-counter in the United States
as it is exempt from the Food and Drug Administration ("FDA")
approval process. The test has three CE marks for the European
Economic Area and a Health Canada approval.
According the United States Centers for Disease Control and
Prevention, 73.5 million adults (31.7%) in the United States have
high 'bad cholesterol' and fewer than 1 in every 3 of them has the
condition under control. Too much cholesterol puts people at risk
for heart disease and stroke, two leading causes of death in the
United States. However, with responsible actions such as
self-testing with Akers Bio's Tri-Cholesterol "Check" test, people
can take steps to manage their cholesterol levels and lower their
risk.
Raymond F. Akers, Jr. PhD, Vice Chairman of Akers Bio, said:
"Being able to differentiate between a person's 'good cholesterol'
and their 'bad cholesterol' is the key to making over-the-counter,
rapid self-testing for this condition truly meaningful. We
developed the only test marketed in the USA with the capacity to
achieve this and we believe that is why First Check - a major force
in rapid diagnostics - has chosen to start selling our test through
their popular brand. We hope this is the start of a mutually
beneficial relationship between First Check and Akers Bio which
could even expand beyond cholesterol and into other areas of rapid
testing."
"We are extremely excited at Akers Bio about our new agreement
with First Check," commented John J. Gormally, Chief Executive
Officer of Akers Bio. "We believe our Tri-Cholesterol rapid manual
test coupled with the industry leader in near patient testing
creates a formidable force in the retail market segment. First
Check has huge distribution into major US drugstores, which could
potentially lead to significant exposure for this product and a
marked improvement in the quality of self-testing cholesterol
levels."
About Akers Biosciences, Inc.
Akers Bio 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.
About First Check Diagnostics, LLC
First Check, based in Waltham, MA, is committed to leading the
market in both home testing for drug use and other health concerns,
in the privacy of your own home. We are committed to innovative
leadership in high-quality home diagnostic test kits that assist
people in living safer, healthier lives. We offer a full portfolio
of drug testing products ranging from a marijuana home drug test to
a 12 panel test that includes 5 prescription drugs. For more
information, please visit www.firstcheckfamily.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.
For more information:
Akers Biosciences, Inc.
John J. Gormally, Chief Executive Officer
Raymond F. Akers, Jr. PhD, Vice Chairman
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 (Global Public Relations)
Ben Simons / Fiona Henson
Tel. +44 (0)20 7830 9704
Email: akers@vigocomms.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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