Issue of Equity - Completion & Form 8-K/A Filing

November 2, 2018

Akers Biosciences, Inc.

Issue of Equity - Completion

&

Form 8-K/A Filing

Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), ("Akers Bio" or the "Company"), a developer of rapid health information technologies, announces that on November 2, 2018, the Company closed its offering of common stock and warrants for gross proceeds of $2 million as announced on October 31, 2018 (the "Offering").

The Company will apply for admission of the 5,555,556 Common Shares issued in the Offering to trading on AIM and this is expected to take place on or around November 9, 2018 ("Admission"). Following Admission, the Company's issued share capital will consist of 99,661,848 Common Shares with no Common Shares held in treasury. This figure may therefore be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The Company has concurrently with this announcement filed a Form 8-K/A (Amendment No. 1) with the U.S. Securities and Exchange Commission which amends the Form 8-K filed by the Company on October 31, 2018. The Form 8-K/A (Amendment No. 1) (and Exhibits thereto) is available to view on Akers Bio's website at www.akersbio.com or on www.sec.gov and the text of the Form 8-K/A (Amendment No. 1) appears below:

Explanatory Note

This Current Report on Form 8-K/A (Amendment No. 1) (the "8-K/A") amends the Current Report on Form 8-K filed by Akers Biosciences, Inc. (the "Company") with the Securities and Exchange Commission on October 31, 2018 (the "Original 8-K") to report the Company's signing of a securities purchase agreement with certain investors (the "Purchase Agreement") pursuant to which the Company agreed to issue and sell an aggregate of (i) 5,555,556 shares of common stock and (ii) warrants to purchase 5,555,556 shares of common stock (the "Warrants"). The combined purchase price for one share of common stock and each Warrant is $0.36 (the "Offering"). The purpose of this 8-K/A is to report the closing of the transactions contemplated by the Purchase Agreement and to affix a copy of the opinion of Ellenoff Grossman & Schole LLP relating to the legality of the securities offered by the Company in the Offering. Except as set forth herein, no modifications have been made to the information contained in the Original 8-K.

Item 1.01 Entry into a Material Definitive Agreement

On November 2, 2018, the Company closed its offering of common stock and Warrants for gross proceeds of $2 million. A copy of the opinion of Ellenoff Grossman & Schole LLP relating to the legality of the securities offered by us is attached as Exhibit 5.1 hereto (see Form 8-K/A (Amendment No. 1) for Exhibits).

Inquiries:

Akers Biosciences, Inc.

Howard R. Yeaton, Chief Executive Officer and interim Chief Financial Officer

Tel. +1 856 848 8698

finnCap (UK Nominated Adviser and Broker)

Ed Frisby / Scott Mathieson (Corporate Finance)

Tel. +44 (0)20 7220 0500

Vigo Communications (Global Public Relations)

Ben Simons / Fiona Henson

Tel. +44 (0)20 7390 0234

Email: akers@vigocomms.com

About Akers Biosciences, Inc.

Akers Bio develops, manufactures, and supplies rapid screening and testing products designed to deliver quicker and more cost-effective healthcare information to healthcare providers and consumers. 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 product 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.akersbio.com. Follow us on Twitter @AkersBio.

Cautionary Note 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 the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, compliance with the requirements of various regulatory agencies and certain NASDAQ Stock Market listing rules, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "will," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential" or similar expressions, as they relate to the Company, its subsidiaries, or its management. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results, performance, prospects, and opportunities to may differ materially from those set forth in, or implied by, the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.