4 Jun 2014 07:00
4 June 2014
Akers Biosciences, Inc.
("ABI" or the "Company")
Akers Biosciences Signs US Distribution Agreement with Typenex
Akers Biosciences, Inc. (Nasdaq:AKER) (LSE:AKR), a leading designer and manufacturer of rapid diagnostic screening and testing products, announces that the Company has entered into a sales and distribution agreement for the US, that can be renewed after one year by mutual consent (the "Agreement"), with Typenex Medical, LLC ("Typenex") of Chicago, Illinois for the Company's PIFA Heparin/PF4 and PIFA PLUSS PF4 rapid tests ("PIFA Heparin Tests").
The Agreement marks a shift in the Company's strategy to accelerate sales of its two signature PIFA Heparin Tests to hospitals. The PIFA Heparin Tests are designed to rapidly assist in the diagnosis of Heparin-Induced Thrombocytopenia ("HIT"): a life- and limb-threating condition that is analogous to an allergy to the blood thinner, Heparin. To date, ABI's revenues for the PIFA Heparin Tests have been generated by a distribution network comprising the top two distributors in the US hospital market, supported by a small technical sales force employed by the Company. Typenex, a product development and sales organization, has a team of twelve sales executives with a proven sales model that is focused on established relationships with a customer base of 2,000 hospitals across the US to which they directly market blood typing and transfusion safety products. Given the synergies between ABI's and Typenex's target markets, Typenex will act as ABI's sales agents marketing directly to potential PIFA Heparin Test customers thereby increasing the Company's potential distribution network. ABI's account executives will function as technical specialists assisting new clients in the adoption of the Company's PIFA Heparin Tests.
In addition, the PIFA Heparin Tests will continue to be distributed by both Cardinal Health and Fisher HealthCare in the US.
"Typenex will be implementing a sales strategy for these flagship tests which highlights not only the compelling cost-reduction case but also the wider substantial benefits of factoring timely diagnosis of HIT into hospital risk management protocol," said Raymond F. Akers Jr., Ph.D, Executive Chairman. "By incorporating ABI's test into risk management protocol, the hospital pharmacy gains a drug management tool that helps it contain the use of expensive - and sometimes problematic - alternatives to Heparin to a much smaller, targeted patient population," explained Dr. Akers. "By positioning ABI's rapid tests as a value creator, the company believes that uptake of these PIFA Heparin products can be greatly enhanced," he added.
ABOUT AKERS BIOSCIENCES, INC.
Akers Biosciences develops, manufactures, and supplies rapid, point of care screening and testing products designed to bring healthcare information both rapidly and directly to the consumer or healthcare provider. 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 products 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.akersbiosciences.com.
Follow us on Twitter: @AkersBio
ABOUT TYPENEX
Typenex is a medical processes support company for hospitals and clinical personnel concerned with delivering processes that streamline healthcare. www.typenex.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:
Raymond F. Akers, Jr. PhD
Executive Chairman of the Board
Akers Biosciences, Inc.
Tel. +1 856 848 8698
Twitter. @AkersBio
Jon Cunningham
RedChip Companies, Inc. (US Investor Relations)
Tel. +1 407 644 4256 x107
Emma Earl / Harrison Clarke
Daniel Stewart (Nomad and Broker)
Tel. +44 (0)20 7776 6550
Ben Simons / Alexandra Roper
Vigo Communications (UK Investor Relations)
Tel. +44 (0)20 7016 9570
akers@vigocomms.com