Akers Biosciences Announces Board Changes
Experienced directors with medical device and financial
backgrounds to steer the Company through next phase of growth
THOROFARE, NJ-(Marketwired - Aug 8, 2017) - Akers Biosciences,
Inc. (NASDAQ: AKER) (AIM: AKR.L), ("Akers Bio" or the "Company"), a
developer of rapid health information technologies, announces a
series of new board appointments to the Company's board of
directors (the "Board").
At the Company's annual shareholder meeting held yesterday in
Philadelphia, PA, shareholders elected three new non-executive
directors to the Board, Bill J. White, Richard C. Tarbox III and
Christopher C. Schreiber; together with John J. Gormally, the
Company's Chief Executive Officer and Raymond F. Akers Jr., Ph.D.,
the Company's Vice Chairman and Chief Scientific Director.
John J. Gormally has served as the Company's Chief Executive
Officer since November 2015. Mr. Gormally has over 30 years of
experience in the healthcare industry. He joined Becton, Dickinson
and Company, a medical technology company that manufactures and
sells a range of medical supplies and diagnostic equipment, in 1978
as a senior sales representative. Mr. Gormally served in a wide
range of positions with Becton through 2013, focusing primarily on
commercialization of Becton's products and fostering sales growth.
From 1999 to 2001, Mr. Gormally served as the Vice President of
U.S. Sales and Operations for ConvaTec, a former division of
Bristol-Myers Squibb Company. From 2001 to 2002, he served as the
Vice President of Global Sales and Marketing for BEI Medical
Systems Company, Inc., prior to rejoining Becton from 2002 to 2013.
In 2013, Mr. Gormally founded Gormally Elite Medical LLC, a
healthcare consulting firm that specializes in human resources and
developing go-to-market commercialization strategies.
Bill J. White has more than 30 years of experience in financial
management, operations and business development. He currently
serves as Chief Financial Officer, Treasurer and Secretary of
Intellicheck Mobilisa, Inc., a technology company listed on the
NYSE MKT. Prior to working at Intellicheck Mobilisa, Inc., he
served 11 years as the Chief Financial Officer, Secretary and
Treasurer of FocusMicro, Inc. As co-founder, Mr. White played an
integral role in growing the business from the company's inception
to over $36 million in annual revenue in a five-year period. Mr.
White has broad domestic and international experience including
managing rapid and significant growth, import/export, implementing
tough cost management initiatives, exploiting new growth
opportunities, merger and acquisitions, strategic planning,
resource allocation, tax compliance and organization development.
Prior to co-founding FocusMicro, he served 15 years in various
financial leadership positions in the government sector.
Richard C. Tarbox III combines over 40 years of management
experience in the medical device and diagnostics sector of the
healthcare industry. Mr. Tarbox presently serves as a registered
investment banker at Aquilo Partners, L.P., focusing his practice
on the needs of clients in the life science tools and diagnostics
sectors. Previously, he held executive roles, primarily in business
development and operations management, with Becton Dickinson,
Thermo Fisher Scientific, Cardinal Health, Baxter International
Inc. and American Hospital Supply Corporation. He has also served a
number of companies in the industry as an officer and member of the
board of directors including: Alverix, Inc., as Chief Executive
Officer and board member from 2010 to 2014, Quidel Corporation, as
Corporate Development Officer from 2007 to 2009, ClearData
Networks, as Chief Operating Officer and a board member from 1999
to 2001, Bioseparations Inc., as Chief Executive Officer and a
board member from 1995 to 1998, Metrika Laboratories, as a board
member from 1994 to 1995, DenOptix, Inc., as a board member from
1995 to 1998 and Ostex International Inc., as Chief Operating
Officer from 1992 to 1995.
Christopher C. Schreiber has over 30 years of experience in the
securities industry. As the Managing Director of Capital Markets at
Taglich Brothers, Inc., Mr. Schreiber builds upon his extensive
background in capital markets, deal structures, and syndications.
Prior to his time at Taglich Brothers, he was a member of the board
of directors of Paulson Investment Company, a 40-year-old full
service Investment Banking firm.
Thomas J. Knox, the previous Non-executive Chairman of the
Company; together with Robert E. Andrews, Brandon Knox and Raza
Bokhari, all non-executive directors of the Company, did not stand
for re-election to the Board.
Raymond F. Akers Jr., Ph.D., who, it is expected, will become
Executive Chairman of Akers Bio following the next Board meeting of
the Company, commented:
"I am delighted that Bill, Richard and Chris have joined the
Board as non-executive directors. They are highly experienced
within their respective fields and bring a diverse and relevant
skillset to Akers Bio as we move into our next phase of growth and
product commercialization.
"I am equally pleased to welcome John to the Board after his
significant and continuing contribution as Chief Executive Officer
of Akers Bio for the past year and a half. The impact John is
making on the business is particularly evident in the increasing
traction of our flagship rapid test for an allergic reaction to the
widely-used blood-thinner, heparin.
"I would like finally to place on record the Board's thanks to
the outgoing directors for their significant contributions to the
development of the Company and wish them well for the future."
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.
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
& Chief Scientific Director 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
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