AKR.L Regulatory News (AKR)

26 Mar 2007 07:00

Embargoed: 0700hrs, 26 March 2007

Akers Biosciences Inc. ("Akers" or the "Company") UK Distribution Agreement

Akers Biosciences, Inc. which develops, manufactures, and supplies rapid, point of care screening and testing products, is pleased to announce that it has entered into an agreement with CIGA Healthcare Ltd., UK through its stragetic partner HealthChem Diagnostics, LLC, USA, that will result in the sales, marketing and distribution of Akers' PIFA‚® Heparin / Platelet Factor-4 Rapid Assay in the UK.

Currently Akers has limited sales presence for this product in the UK and Europe. This agreement represents the first substantial international partnership for the PIFA‚® Heparin / Platelet Factor-4 Rapid Assay, and is illustrative of the Company's campaign to increase its European sales and marketing presence. The agreement provides for exclusive distribution rights in the UK if certain minimum purchase levels are achieved.

Dr. Ray Akers, CEO of Akers Biosciences,said,

"Today's agreement represents a significant step to date in our strategy to increase our presence in Europe. We believe that there is a clear medical need for our rapid test for Heparin / Platelet Factor-4 antibodies worldwide and Akers' patented technology is unique in its ability to produce a rapid result. This alliance with CIGA Healthcare and HealthChem Diagnostics is a positive development to increase the distribution of our product to hospitals and healthcare provides in Europe."

Enquiries:Akers Biosciences, Inc.Dr Ray Akers, CEOThomas Nicolette, PresidentTel. 001 856 848 8698Hansard GroupBen SimonsTel. 020 7245 1100

Information on the PIFA‚®HPF-4 antibody test and heparin

The PIFA‚® HPF-4 antibody test is designed to identify patients at risk for developing heparin-induced thrombocytopenia and thrombosis syndrome (HITTS), a severe allergic-like side effect associated with the use of the anticoagulant heparin. The distribution agreement announced today will allow the Company to introduce the PIFA‚® HPF-4 test into hospitals where heparin is administered during surgical and other medical procedures.

Heparin is the most widely used intravenous anticoagulant and one of the most widely prescribed drugs in the United States. More than 1 trillion units are administered annually to approximately 12 million patients. Intravenous heparin is commonly used for the prophylaxis and treatment of thromboembolic disease, as well as numerous other applications including certain types of lung and heart disorders, and during or after a variety of surgeries including open heart, bypass, dialysis and orthopedic procedures. Heparin is also used for diagnostic and therapeutic interventional radiologic procedures.

Patients with recent exposure to heparin are at a much greater risk for developing HITTS, than are those not having previously been given the drug. The presence of Heparin/PF-4 antibody is associated with patients at risk for HITTS, and is rapidly becoming a standard of care in hematology and cardiology. HITTS is caused by heparin-dependent antibodies, which form to the Heparin Platelet Factor-4 complex, and 1-5% of adults exposed to heparin develop these antibodies. These antibodies are initially formed when a patient has been on heparin therapy for five or more days. An immune response to a heparin dose may be observed sooner (1-2 days) if the patient has had previous exposure to heparin. The hallmark symptoms of HITTS are a drastic fall in platelet count and thrombosis. Other symptoms may include cutaneous reactions, from a simple allergic reaction to lesions to necrosis.

The PIFA‚® HPF-4 Antibody Assay is a rapid manual assay and can be easily performed when immediate results are required. Because of the rapid progression of HITTS and its serious potential outcomes, a rapid test result can significantly impact the clinical intervention of these patients.

Akers Biosciences

Akers Biosciences, Inc. develops, manufactures, and supplies rapid, point of care screening and testing products designed to bring healthcare information both rapidly and 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. Akers 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.

CIGA Healthcare Ltd.

CIGA Healthcare specializes in the Rapid Self Test Health Diagnostics sector and is among the leaders in this rapidly emerging new OTC market. As patients realize that they have the prime responsibility for their health they want to be able to monitor not only their own health but also their families' health on a regular basis. Diagnostic Self Tests allow them to ensure that many potential health problems are caught as early as possible and can be treated to avoid long term health problems.

CIGA's SURESIGN‚® range of Self Tests is growing quickly to meet the new demands of the market. It is forecast the UK Self Test sector will increase in value by more than 100% over the next five years, approaching ‚£150, 000,000. The market in the rest of Europe is also expected to experience similar strong growth.

CIGA offers a wide range of tests and equipment ranging from pregnancy to blood pressure monitoring and is adding new diagnostics on a regular basis as they become available. CIGA's SURESIGN‚® brand is sold in over 4,000 pharmacy, grocery and general retail outlets across the UK. All tests and equipment are fully compliant with European-wide CE marking regulations and are assessed where required by independent bodies appointed by The Medicines and Health products Regulatory Agency (MHRA) to ensure they are of the highest standard.

CIGA has won numerous awards in 2006, including: UK Small Industrial Company of the Year; Sunday Times Best of British Industry Award; NatWest Startup Award in Category; HSBC Startup Stars Award, Winner in Region, UK National Finalist; and Ballymena Chamber of Commerce Excellence Award.