AKR.L Regulatory News (AKR)

27 Jun 2005 06:00

Embargoed: 27 June 2004 Akers Biosciences, Inc. ("Akers" or the "Company") Re. UK Distribution Agreement Akers Biosciences, Inc. is pleased to announce the launch of a number of itsproducts in the UK through its UK distribution agent Advanced Rapid DiagnosticsLimited ("ARD"). ARD was established in order to penetrate the UK markets withAkers' growing range of products.The Company is already actively marketing a number of CE approved products inthe UK through ARD which, among others, include:Tests for `drugs of abuse'Akers has developed a suite of tests for `drugs of abuse' including tests foruse of methadone, heroine, cocaine, marijuana and ecstasy among others. Forthis product ARD is targeting the public service markets alongside retailbusinesses or, indeed, any organisation wishing to have the ability to performrapid tests on staff. The Company believes that there is significant potentialfor law enforcement agencies or educational establishments to adopt thesetests.Alcohol BreathalyzersARD is marketing Akers' range of alcohol breathalyzers in the UK to a range ofindustries, in particular transport businesses operating any form of vehicles,be they rail, air, road or sea. In addition to ensuring transportation safety,the use of these products may also positively impact insurance costs for thesebusinesses. ARD will also be looking to penetrate retail markets including highstreet pharmacies so that the public will have access to affordable tests toshow alcohol levels, with particular emphasis on self-regulation in the case ofdriving.PIFA‚® Heparin/PF4 test for heparin-induced thrombocytopenia and thrombosissyndrome (HITTS)Following increasing levels of penetration in the United States and Canada forthis test, the first rapid test for heparin/platelet factor-4 antibodies, ARDwill be initially targeting the private healthcare sector in the UK. Heparin isa widely used intravenous anticoagulant in the United Kingdom. Intravenousheparin is commonly used for the prophylaxis and treatment of thromboembolicdisease, as well as numerous other applications including certain types of lungand heart disorders, and during or after a variety of surgeries including openheart, bypass, dialysis and orthopedic procedures. Heparin is also used fordiagnostic and therapeutic interventional radiologic procedures. Akers' test isable to identify, almost instantly, patients at risk for developing HITTS as aresult of administering of heparin. This is particularly crucial in cases ofemergency surgery. Patients identified by the test as being at risk can beprescribed alternative drugs in order to avoid, potentially, fatal reactions toheparin.Cholesterol TestsBlood cholesterol consists of HDL cholesterol (often called "good cholesterol")and LDL cholesterol (often called "bad cholesterol"). The risk of heart diseaseis related to HDL levels, total cholesterol levels, and other risk factors. TheAkers Biosciences Tri-Cholesterol Test Kit is the only FDA-approved rapid assaythat provides a complete cholesterol profile of the patient, withsemi-quantitative determinations of high-density lipoprotein (HDL) cholesterol,low-density lipoprotein (LDL) cholesterol, and total cholesterol levels inwhole blood obtained from a finger stick. The test is designed for routinemonitoring of cholesterol levels right in a physician's office or directly athome.Dr. Raymond Akers, Chief Executive, Akers Biosciences, Inc. commented,"We are now enjoying very encouraging levels of sales for many of our productsin the United States and other parts of the world and I am delighted to beembarking upon an aggressive marketing and sales drive in the UK. As is thecase in the US, many of our products will be completely unique in the UK,enabling crucial tests to be performed rapidly and accurately. There is agrowing need for tests for alcohol levels and use of drugs of abuse all overthe world. Our tests in this area will enable people, particularly in thetransport and education industries to identify situations of abuse instantly.As for our PIFA Heparin PF-4 test, we believe this test will help save lives inthe UK. In addition, the medical industry can save millions of pounds inheparin-related law suits of patients who have suffered symptoms of a drugwhose prescription could have been avoided through identification of risk withour test and the prescription of an alternative."Dr. Raymond AkersChief Executive, Akers Biosciences, Inc.Tel. 020 7917 9476Barry ParkerChief Executive, Advanced Rapid Diagnostics LimitedTel. 0161 792 1112Ben SimonsHansard CommunicationsTel. 020 7245 1100ENDAKERS BIOSCIENCES INC