17 Jul 2014 07:00
17 July 2014
Akers Biosciences, Inc.
US Patent Granted for Akers' Breath Ketone Detection Device
Akers Biosciences, Inc. (Nasdaq:AKER) (LSE:AKR) (the "Company"or "Akers"), a leading designer and manufacturer of rapid diagnostic screening and testing products, announces that the United States Patent and Trademark Office ("USPTO") has granted a patent covering Akers' Breath Ketone detection device.
The Breath Ketone detection device is based upon Akers' proprietary MPC Biosensor Technology which permits the rapid identification of medical conditions through biomarkers in exhaled breath. The primary product being developed by Akers using the Breath Ketone detection device is the BreathKetone "Check", which provides real-time diagnostic information that allows diabetics and/or their caregivers/healthcare providers to determine if they have a severe level of ketone (acid) build up in their body. Such ketone build up can cause a life-threatening medical emergency called ketoacidosis.
The estimated 28.5 million Type 1 (insulin-dependent) diabetics worldwide are at particular risk for ketoacidosis and require routine monitoring of their ketone levels. To date the medical industry relies on blood- and urine-based ketone testing methods, which are invasive, inconvenient, and/or expensive. Since breath and blood ketone levels are closely correlated, Akers'BreathKetone "Check"is designed to offer healthcare professionals and their patients a convenient, accurate method, which can be completed anytime, anywhere, to quickly determine if an individual's ketone level is approaching a dangerous threshold requiring medical attention.
The device has further applications in the medical and non-medical weight management areas where the measurement of ketone production is used to monitor the burning of body fat. In fact, the Company is currently marketing a version of the product to weight loss centers.
Akers is in the process of obtaining FDA 510(k) clearance for BreathKetone "Check"in the United States, which involves further clinical studies to complete the regulatory submission. The Company hopes to receive clearance in 2015.
The Company will continue the patent prosecution process for related foreign patent applications for Akers' Breath Ketone detection device in certain growth related jurisdictions, including Europe and Japan.
"When developing technologies which address such huge diagnostic markets as diabetes, having robust protection over the intellectual property is of paramount importance for safeguarding the value of our inventions," said Raymond F. Akers Jr., Ph.D, Executive Chairman. "This patent grant by the USPTO has been some years in the making and will serve as a blueprint for achieving faster grants in other jurisdictions," continued Dr. Akers.
"We believe the ability to help Type 1 diabetics monitor their ketone levels in a non-invasive, more convenient and less expensive way than is currently available will be a significant advancement in the management of a disease which affects tens of millions of people,"added Dr. Akers. "We regard BreathKetone "Check"as one of the Company's'high growth and cornerstone tests of the near future; obtaining US patent approval is a critical step in the commercialization process."
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.
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
Brendan Hopkins
RedChip Companies, Inc. (US Investor Relations)
Tel. +1 407 644 4256 x134
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