20 Feb 2007 07:00
Embargoed: 0700hrs, 20 February 2007
Akers Biosciences, Inc. Strategic Update
Akers Biosciences, Inc. which develops, manufactures, and supplies rapid, point of care screening and testing products, is pleased to announce that Thomas A. Nicolette has agreed to take an executive position on the board as its new President. Moving Nicolette into an executive role, from his previous non-executive position, marks the transition of the Company from its scientific research and development roots to capitalising on its product portfolio through an emphasis on sales and marketing.
Over the last four years the Company has invested significant resources in the creation and development of platform technologies for rapid testing and screening procedures, and is now in a position to advance the market penetration of its products. Over the last twelve months the Company has made two strategic acquisitions which give it direct access to the US Military and other end users of its BreathScan, BreathAlcohol Check and LegalLimit brands of disposable alcohol testing units. Another important product for the Company is the proprietary PIFA Heparin/PF4 Rapid Assay which is currently being distributed throughout Canada, North America and, imminently, Europe. PIFA H/ PF4 is now in use or evaluation in over 780 hospitals in the US and this number is increasing on a weekly basis, whilst existing hospital customers are moving towards regular re-orders.
In order to facilitate this scale-up in production, as previously announced, the Company is designing a 43,000 sq ft manufacturing facility in Puerto Rico, expected to be on stream by November 2007, affording a substantial reduction in cost of goods manufactured as well as supply chain efficiencies.
Dr Raymond Akers, Chief Executive Officer, commented,
"Tom's appointment as President is extremely beneficial as he will now be able to give his attention, on a full time basis, to working alongside me to extract the full financial potential of our products. Having invested so much of our time and resources in creating our product line, now is the time make the transition to sales and marketing."
Thomas A. Nicolette, President, said,
"Having personally built up a number of technology based companies and progressed them into their commercial phases, I recognise that the Company is poised to enter its commercial phase fully. I am confident that my commercial experience coupled with Dr Akers' intimate understanding of the diagnostic marketplace will put us in a strong position to take advantage of the efforts of the last four years."
Enquiries:Dr. Ray Akers Chief Executive Officer, Akers 001 856 848 8698 Biosciences, Inc.
Thomas Nicolette President, Akers Biosciences, Inc. 001 856 848 8698 Ben Simons Hansard Group 020 7245 1100
Thomas A. Nicolette comes from a blue-chip business background having served as Chairman, President and Chief Executive Officer of several public companies in the USA. The largest, KNOGO Corporation, was a NYSE listed multi-national headquartered on Long Island, NY with subsidiaries, dealers and manufacturing facilities in 32 countries around the world. KNOGO, recognised as the founder of the Electronic Article Surveillance (EAS) anti-shoplifting industry, was sold to Sensormatic Electronics Corporation and is now part of Tyco International, the largest Electronic Security provider in the world.
Akers Biosciences, Inc. develops, manufactures, and supplies rapid, point of care screening and testing products designed to bring rapid healthcare information directly to the patient 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
AKERS BIOSCIENCES INC