Re Agreement

14 Feb 2005 07:00

Embargoed: 0700hrs 14 February 2005 Akers Biosciences, Inc. Akers Biosciences Signs Agreement with Oryx Pharmaceuticals to Distribute its Rapid Heparin Platelet Factor-4 Test in Canada Thorofare, NJ , USA-February 14, 2005-Akers Biosciences, Inc. (LSE:AKR) ispleased to announce today that it has signed an agreement with OryxPharmaceuticals Inc. to sell and distribute its rapid test for Heparin PlateletFactor-4 (HPF-4) antibodies in Canada. The PIFA‚® HPF-4 antibody test isdesigned to identify patients at risk for developing heparin-inducedthrombocytopenia and thrombosis syndrome (HITTS), a severe allergic-like sideeffect associated with the use of the anticoagulant heparin. The distributionagreement announced today will allow the Company to introduce the PIFA‚® HPF-4test into hospitals in Canada where heparin is administered during surgical andother medical procedures.Oryx Pharmaceuticals Inc. ("Oryx", www.oryxpharma.com) is a Canadian companythat is focused on the commercialization of prescription pharmaceuticalproducts. Oryx serves the needs of Canadian professionals and patients throughthe licensing and commercialization of unique pharmaceutical products,especially those that are distinctive in terms of efficacy, safety, or mode ofdelivery. Products are sourced from Canadian multinationals, regionalpharmaceutical companies without a global presence, and companies with biotechlate-stage products from the U.S. or Europe. Oryx has an agreement with TheMedicines Company (NASDAQ:MDCO) to commercialize Angiomax‚®, an anticoagulantdrug competitive to heparin, in Canada. Akers Biosciences Inc. has previouslyannounced a strategic alliance with The Medicines Company to increase awarenessof Akers Bio sciences' PIFA‚® HPF-4 antibody test.Heparin is the most widely used intravenous anticoagulant. Intravenous heparinis commonly used for the prophylaxis and treatment of thromboembolic disease,as well as numerous other applications including certain types of lung andheart 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.Patients with recent exposure to heparin are at a much greater risk fordeveloping HITTS than are those not having previously been given the drug. Thepresence of Heparin/PF-4 antibody is associated with patients at risk forHITTS, and is rapidly becoming a standard of care in hematology and cardiology.HITTS is caused by heparin-dependent antibodies, which form to the HeparinPlatelet Factor-4 complex, and 1-5% of adults exposed to heparin develop theseantibodies. These antibodies are initially formed when a patient has been onheparin therapy for five or more days. An immune response to a heparin dose maybe observed sooner (1-2 days) if the patient has had previous exposure toheparin. The hallmark symptoms of HITTS are a drastic fall in platelet countand thrombosis. Other symptoms may include cutaneous reactions, from a simpleallergic reaction to lesions to necrosis.The PIFA‚® HPF-4 Antibody Assay is a rapid manual assay and can be easilyperformed when immediate results are required. Because of the rapid progressionof HITTS and its serious potential outcomes, a rapid test result can impact theclinical intervention of these patients.Dr. Ray Akers, CEO of Akers Biosciences said, "We believe the PIFA‚® HPF-4Antibody Assay will address a critical need not only in cardiac surgeries, butalso in other types of surgeries, and emergency medicine, and improve thestandard of care for patients undergoing anticoagulant therapy. We also believethat Oryx Pharmaceuticals is perfectly positioned to bring this product tothese marketplaces in Canada."Doug Reynolds, President of Oryx, said, "We are looking forward to working withAkers Biosciences and bringing this exciting, new rapid diagnostic test to abroader market. Both surgeons and physicians will appreciate the ability tohave a test result for heparin/ PF 4 antibody status almost immediately,thereby affording the healthcare professional the ability to initiate or modifya therapeutic intervention."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 advanc ed 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.com .Enquiries: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 Ben Simons Hansard Communications 020 7245 1100 07713090135 END