THOROFARE, N.J., May 7, 2014 (GLOBE NEWSWIRE) -- Akers Biosciences, Inc. (Nasdaq:AKER) (LSE:AKR) (the "Company" or "ABI"), a leading designer and manufacturer of rapid diagnostic screening and testing products, announces a distribution agreement with Thirty Six Strategies General Trading LLC ("36S"), for the sale of the Company's PIFA PLUSS Infectious Disease Rapid Assay product line and Tri-Cholesterol "Check".
The three year exclusive agreement is subject to performance minimum purchase requirements. 36S is permitted to market the Company's products in Australia, Singapore, the United Arab Emirates and Oman.
Under the terms of the distribution agreement 36S, a Dubai-based procurement solutions company with a distribution network throughout the Middle East and Australia, is expected to immediately begin marketing the Company's tests to a large and varied customer base including hospitals, paramedic and emergency services, non-governmental organizations and military forces. 36S will focus on distribution of the Company's rapid HIV, Hepatitis B, Malaria and Dengue Fever tests; as well as its rapid cholesterol test, Tri-Cholesterol "Check".
ABI's PIFA Infectious Disease Rapid Assays function on an easy-to-obtain finger stick blood sample and integrate blood sample processing into the test procedure through the Company's Rapid Blood Cell Separation Technology, seraSTAT.
The Company's Tri-Cholesterol "Check", also initiated through a finger stick blood sample, is the only combined rapid test which provides an estimate of both Total and High Density Lipoprotein ("HDL") cholesterol levels thereby providing an estimate of the subject's Low Density Lipoprotein ("LDL") levels.
"Cardiovascular disease and related risk-factors like high cholesterol are on the rise globally," said Raymond F. Akers Jr., Ph.D, Executive Chairman. "The Middle East, Australia and Singapore are no exception and, in fact, recent studies in the UAE categorized the cardiovascular health risk as being on the edge of a potentially serious epidemic. The geographies covered in the 36S distribution agreement are therefore a natural extension for the Company's rapid cholesterol tests," continued Dr. Akers.
"Similarly our suite of rapid infectious disease tests are pertinent to these markets where rapid, single-use, portable devices that do not require special instrumentation are key to any infectious disease-containment solution – particularly within communities living in close-confinement such as military forces," added Dr. Akers.
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. The Company 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 its products can be found at www.akersbiosciences.com.
Cautionary Statement 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 Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target", "intend" and "expect" and similar expressions, as they relate to Akers Biosciences, Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.