Business Update

26 Jul 2005 06:00

Akers Biosciences Inc Business Update Thorofare, NJ, USA, Akers Biosciences Inc. ("Akers" or the "Company", LSE:AKR)The Board of Akers is pleased to update the market on recent developments:The Company is pleased to announce that the US FDA has indicated that theCompany may market its Tri-Cholesterol test OTC to consumers in the US, makingit the only OTC test on the market that can rapidly determine total, HDL(good), and LDL (bad) cholesterol levels. The Company did not previously expectany revenues from this product in the US OTC market in 2005, but now plans tointroduce this product in the third quarter of this year. In addition, theCompany has obtained a CE mark for its Tri-Cholesterol test, allowing theproduct to be sold in the EU. The Company plans to introduce the product intothe EU before the end of the year.The Company's PIFA Heparin/PF 4 antibody rapid test ("PIFA HPF4 test") is nowgaining acceptance in the US hospital laboratory market, with over 50 hospitalsnow using this test. The rate of product adoption among new hospitals indicatesa significant growth trend. As a result of this market acceptance, and theselling efforts of the Company's distributors and its own sales force, ordersfor the PIFA HPF4 test have significantly increased. Akers' production andsupply departments are well positioned to fulfil this increased demand. Theproduct is expected to be introduced into the EU before the end of the year,with revenues expected to begin in early 2006.The remainder of the Company's product range has shown encouraging performancewith a notable highlight being the Company began shipments of the previouslyannounced orders of its alcohol breathalyzers. Through its distributors, theCompany's breathalyzer has been approved by the Italian government for use bypolice and other law enforcement officials in a campaign to decrease theincidence of driving under the influence of alcohol. The Company's product isthe only portable breathalyzer approved for this use, and orders for thisproduct have significantly increased. It is the Company's and its distributor'sintention to introduce this product and program to other member countries ofthe EU.Increasing acceptance of the Akers products by the market, and by regulators,lead the Board to expect continued strong sales growth through 2005 and beyond. 26 July 2005Enquiries:Dr. Ray Akers Chief Executive Officer, Akers 020 7917 9476 Biosciences, Inc. Paul Freedman 001 856 848 8698 Chief Financial Officer, Akers Biosciences, Inc. Bill Roberts CTC, Inc. 001 937 434 2700 Nicholas Nelson Hansard Communications 020 7245 1100 Akers Biosciences, Inc. develops, manufactures, and supplies rapid, point ofcare screening and testing products designed to bring healthcare informationboth rapidly and directly to the patient or healthcare provider. The Companyhas advanced the science of diagnostics while responding to major shifts inhealthcare through the development of several proprietary platformtechnologies. The Company's state-of-the-art rapid diagnostic assays can beperformed virtually anywhere in minutes when time is of the essence. Akers hasaligned with major healthcare companies and high volume medical products distributors to maximize product offerings, and to be a major worldwidecompetitor in diagnostics. Additional information on the Company and itsproducts can be found at www.akersbiosciences.comENDAKERS BIOSCIENCES INC