LONDON (Alliance News) - Akers Biosciences Inc said Friday that it had inked an agreement with Nevada-based Jai Capital LLC to market its rapid test products in India.
Under the agreement Jai will market Aker's PIFA Heparin/Platelet Factor-4 Rapid Assay test for thrombosis, its PIFA Dengue Assay for Dengue fever, its Battlefield Blood Transfusion Card and Tri-Cholesterol rapid tests to the Indian military.
Akers believes that were the tests to get military approval, it would likely happen in the second-half of the year.
Jai will also look for strategic partnerships with Indian medical diagnostic companies, which it said may help expedite the approval process of the tests with the Indian Government.
"India is one of the fastest growing major economies in the world and an important market for Akers to penetrate," said Executive Chairman Raymond Akers Jr in a statement.
No financial details of the agreement were disclosed.
Shares in Akers were un-traded at 277.5 pence Friday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.