AKR.L Regulatory News (AKR)

25 April 2016

Akers Biosciences, Inc.

Board Rearrangement

Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), ("Akers Bio" or the "Company"), a developer of rapid health information technologies, announces changes to the roles of certain board members, which take effect immediately and are designed to improve the effectiveness of the Board of Directors.

Thomas Knox, currently Non-executive Co-Chairman, becomes the Company's sole chairman. Mr. Knox is a Philadelphia-based businessman with high level corporate and governance experience. Mr. Knox has owned, managed, and sold multiple profitable companies in the software, banking, and health insurance industries including Disc Systems, Inc., Crusader Bank, Gimco International, Kasser Industries and Fidelity Insurance Group. He also served as Chief Executive Officer for United HealthCare of Pennsylvania and served as Special Deputy Rehabilitator & Chief Executive Officer of Fidelity Mutual Life Insurance Co., Pennsylvania's 5th largest insurer. He was candidate for Mayor of Philadelphia in 2007 and candidate for Governor of Pennsylvania in 2010.

Raymond F. Akers, Jr. PhD, currently Co-founder and Executive Chairman, becomes Co-founder and Chief Scientific Director. Dr. Akers invented the Company's platform technologies on which its products are based, including Particle ImmunoFiltration Assay (PIFA), and will continue to lead the scientific development of Akers Bio's product pipeline and the scientific enhancements of the Company's commercialized products. Dr. Akers remains a director of the Company and, as Co-founder, will continue to interface with shareholders.

Thomas Knox, Chairman, commented:

"Having our recently appointed CEO focusing successfully on product commercialization and operations enables us to deploy the strengths of the Board of Directors more effectively; I am pleased that this allows Dr. Akers to focus on accelerating the development of our pipeline of rapid diagnostic tests."

Raymond F. Akers, Jr., Co-founder, commented:

"This new delegation of responsibilities is good for the Company. I can more effectively utilize my technical strengths and advance the Company to the next level of scientific excellence, particularly in the fields of health and wellness, and infectious and respiratory diseases, which are potentially huge markets in which rapid diagnostic technology can dramatically improve the quality of care. I look forward to continuing to communicate the Akers Bio story to the investment community."

For more information:

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 7830 9700

Email: akers@vigocomms.com