17 Mar 2010 07:00
Embargoed: 0700hrs, 17 March 2010
Akers Biosciences Inc.
("ABI" or the "Company")
ABI Licenses BreathScan Rights for UK & Republic of Ireland to
BreathScan International Ltd
Akers Biosciences, Inc (AIM:AKR), a leading designer and manufacturer of rapid diagnostic screening and testing products, is pleased to announce that it has licensed the exclusive sales, marketing, and distribution rights to the Company's BreathScan product line in the UK and Republic of Ireland, to BreathScan International Ltd ("BIL") for a period of five years; continuing exclusivity is conditional upon BIL achieving certain annual purchase minimums. The London-based BIL will also have a non-exclusive right to develop opportunities internationally, outside of North America.
In return for the licence, ABI will receive a 20 per cent. equity stake in BIL. Thomas A. Nicolette, President and Chief Executive Officer of ABI, will also sit on BIL's Board of Directors.
ABI's BreathScan products accurately measure breath alcohol levels in a convenient, portable testing format that utilises the Company's Micro Particle Catalyzed Biosensor technology. In essence, reactive particles, packaged in a small tube, are exposed to an individual's breath condensate. Through a catalysed process, the particles form a complex with breath alcohol to cause a visible colour change. BreathScan devices are also disposable and value-priced, and therefore have numerous applications for use in a variety of markets which include the following:
- Safety and prevention programmes in private and defence sectors
- Commercial testing in industry (e.g. transportation, maritime, etc)
- Security and Law Enforcement (e.g. roadside and at-will alcohol screenings)
- Alcohol Awareness and Corporate Responsibility Initiatives
- Over-the-counter retail sales
Given the commercial depth of BreathScan outside of the clinical, laboratory marketplace, the partnership with BIL also initiates ABI's creation of separate, Breath Alcohol Business Units, in the international and North American markets.
Thomas A. Nicolette, President and Chief Executive of ABI, commented,
"Partnering with specialists in overseas territories is one of the keys to the future success of BreathScan. Our decision to establish a more targeted, strategic focus on BreathScan will also help ABI to accelerate the adoption of our products worldwide and ultimately increase shareholder value. We are confident that the team at BIL has the specific experience and connections to drive sales in the UK and Ireland. We stand to benefit both as their supplier and as a substantial stakeholder in their business."
BIL will be operated by Brand.exe Ltd, a partnership of business professionals with expertise in expediting the sale of products targeted to military, public sector, corporate and direct-to-consumer markets. BIL is managed by Kevin Wright, an accomplished marketer who, prior to creating Brand.exe, jointly founded the award-winning brand publicity practice, The Wright Partnership. Kevin has launched and directed some of the most influential consumer product campaigns for many of the UK's Top 100 businesses.
Kevin Wright, Managing Director of BreathScan International Ltd, said,
"We have been interested in the BreathScan product line for a number of months, specifically its potential in the relatively untapped UK and Irish markets. Through its people, Brand.exe is uniquely positioned to apply expertise across a number of markets that we believe are ideally suited to BreathScan. We have already identified opportunities in strategic alcohol awareness campaigns, public sector safety programmes, transportation, law enforcement and over-the-counter markets. We look forward to a mutually beneficial and profitable relationship with ABI."
Enquiries:
Thomas A. Nicolette
President and CEO
Tel. +1 856 848 8698
Ben Simons
M: Communications
Tel. +44 (0)20 7920 2340
Alasdair Younie/Ben Wells
Arbuthnot Securities Limited
Tel. +44 (0)20 7012 2000
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. ABI 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 it products can be found at www.akersbiosciences.com.
About Brand.exe Limited
Brand.exe is in the vanguard of innovative marketing and brand communication and has a record of success in helping bring products to market in both the UK and the USA. The Company specialises in accelerating businesses through the integration of Brand Development, Creative Consultancy and Marketing Communications, and Operational Management. The Practice helps clients better understand and move their brands closer to consumers whilst at the same time refining their products and services, helping them to achieve a better return on business investment.
AKR.L (AKR)