26 Mar 2018 07:01
March 26, 2018
Akers Biosciences, Inc.
Distribution Agreement with Diagnostica Stago
Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), ("Akers Bio" or the "Company"), a developer of rapid health information technologies, has entered into a three-year National Distribution Agreement (the "Agreement") with Diagnostica Stago, Inc. ("Stago") for the sale of the Company's flagship rapid test for Heparin-induced thrombocytopenia ("HIT") across the US.
Stago is a global leader in hemostasis, with more than 20,000 instruments in use and an extensive US-based team dedicated to the sale and support of hemostasis products and equipment to hospitals across the country. Under the Agreement, Stago will be marketing and selling Akers Bio's PIFA PLUSS PF4™ Rapid Assay, a single-use test for the detection of Platelet Factor 4 antibodies using a whole blood sample, to its broad customer base of hospital laboratories.
PIFA PLUSS PF4™ is designed to determine in under one hour, at - or near - the point-of-care, if a patient being treated with the widely used blood thinner, heparin, may be developing a reaction known as HIT. This clinical syndrome reverses heparin's intended therapeutic effect and transforms it into a clotting agent. Patients suffering HIT (a low platelet count) are at risk of developing limb- and life-threatening complications, so the timely test result provided by the Company's device is paramount to effective and cost-efficient clinical decision making. There are approximately 4 million tests for HIT conducted annually in the US using slower, traditional methods. Akers Bio is aiming to replace a significant portion of these tests with its rapid alternative.
John J. Gormally, Chief Executive Officer of Akers Bio, commented: "The addition of Stago to our growing and distinguished distributor network is a significant milestone in the commercialization of PIFA PLUSS PF4™. Stago is a recognized leader in the field of hemostasis and has a very large and established customer base to which to market our product. Through Stago, Akers Bio will gain access to a dedicated and specialized sales team who are focused exclusively on buyers of hemostasis-related products. Akers Bio is excited about the potential for near-term US sales growth through this new, additional and specialized channel to market."
Philippe Barroux, North America Chief Executive Officer of Stago, added: "Stago is pleased to have selected PIFA PLUSS PF4™ Rapid Assay as its only rapid test for heparin Platelet Factor 4 antibodies in the US. Our sales team is looking forward to communicating the compelling medical and economic benefits of this uniquely efficient and accurate test for heparin-induced thrombocytopenia to Stago's customers in line with our commitment to providing market leading hemostasis solutions to improve patient care."
For more information:
Akers Biosciences, Inc.
John J. Gormally, Chief Executive Officer
Raymond F. Akers, Jr. PhD, Executive Chairman and Chief Scientific Director
Tel. +1 856 848 8698
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 / Emma Lord
Tel. +44 (0)20 7830 9704
Email: akers@vigocomms.com
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.