Re Distribution Agreement

5 Sep 2005 06:00

Embargoed: 0700hrs 5 September 2005 Akers Biosciences Inc. ("Akers" or the "Company") Major Distribution Agreement Thorofare, NJ, USA-September 05, 2005--Akers Biosciences Inc. (LSE:AKR) isdelighted to announce that it has signed an agreement with the Medical Productsand Services Business Unit of Cardinal Health ("Cardinal") to distribute Akers'PIFA‚® Heparin / Platelet Factor-4 Rapid Assay. Cardinal had previously taken aninitial stock of inventory, and will begin operations with the Akers' productthis month.Currently Akers has limited sales representatives exclusively marketing thisproduct in the U.S. Although the Cardinal organization will not be marketingthis product alone, it will nevertheless transform the scale of personnelmarketing the product and the regions in which Akers is able to penetrate.Dr. Ray Akers, CEO of Akers Biosciences said, "Today's agreement represents themost significant step to date in our strategy to penetrate a large segment ofthe U.S. healthcare market. There is a clear medical need for our breakthroughtest for Heparin / Platelet Factor-4 antibodies. This alliance with Cardinal isall about making our product widely available to hospitals across the U.S., andgreatly increasing our share of voice in the marketplace."Information on thePIFA‚®HPF-4 antibody test and heparinThe PIFA‚® HPF-4 antibody test is designed to identify patients at risk fordeveloping heparin-induced thrombocytopenia and thrombosis syndrome (HITTS), asevere allergic-like side effect associated with the use of the anticoagulantheparin. The distribution agreement announced today will allow the Company tointroduce the PIFA‚® HPF-4 test into hospitals where heparin is administeredduring surgical and other medical procedures.Heparin is the most widely used intravenous anticoagulant and one of the mostwidely prescribed drugs in the United States. More than 1 trillion units areadministered annually to approximately 12 million patients. 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 cansignificantly impact the clinical intervention of these patients.Cardinal HealthCardinal Health (www.cardinal.com) is the leading provider of products andservices supporting the health care industry. Headquartered in Dublin, Ohio,Cardinal employs more than 50,000 people on five continents and produces annualrevenues of more than $50 billion. Cardinal is ranked No.17 on the currentFortune 500 list and named one of the best U.S. companies by Forbes magazinefor 2004. The Medical Products and Services group ("MPS") serves hospitals,surgery centers, laboratories, clinics, physician group practices, long-termand sub-acute care facilities, home-care companies and other healthcareproviders. MPS manufactures many products, while others come from leadinghealth and medical companies around the world. In addition, MPS helps medicalprofessionals control healthcare costs and improve inventory management througha range of integrated supply-chain services including procedure-based supplypackaging, just-in-time delivery and others. MPS is staffed with 135 salesrepresentatives and a comprehensive distribution organization.Akers BiosciencesAkers 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.com.Enquiries:Dr. Ray Akers Chief Executive Officer, Akers Biosciences, 020 7917 9476 Inc. Paul Freedman 001 856 848 8698 Chief Financial Officer, Akers Biosciences, Inc. Xavier DeMol Robert W. Baird, Ltd. 020 7667 8246 Bill Roberts CTC, Inc. 001 937 434 2700 Ben Simons Hansard Communications 020 7245 1100 ENDAKERS BIOSCIENCES INC