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Akers Biosciences Signs Distribution Deals in India, Germany, Italy & Scandinavia

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Akers Biosciences, Inc. (NASDAQ: AKER) (AIM:AKR.L), ("Akers Bio" or the "Company"), a medical device company focused on reducing the cost of healthcare through faster, easier diagnostics, has signed distribution agreements to market its flagship test for heparin‐induced thrombocytopenia ("HIT") in India, Germany, Italy and Scandinavia. The Company's HIT test, based on Akers Bio's proprietary PIFA technology, is now represented in thirty countries worldwide. Akers Bio now has distribution in every major diagnostic market in the world.

Akers has developed the only U.S. and E.U. cleared rapid test to detect a potentially fatal allergy to the widely used blood thinner, heparin. This clinical syndrome known as HIT reverses heparin's intended therapeutic effect and transforms it into a clotting agent. Patients suffering HIT are at risk of developing limb- and life-threatening complications, so the rapid diagnosis provided by the Company's Heparin/PF4 devices is paramount to effective, clinical decision making. Millions of patients are exposed to heparin around the world each year and between 1% and 5% of those patients receive a HIT diagnosis. The largest at-risk populations are patients undergoing major cardiac or orthopedic surgical procedures.

The Company's diagnostic test is not only a valuable tool for HIT diagnosis but also for rapidly ruling out HIT, thus avoiding the need to administer expensive direct thrombin inhibitors in the many cases where HIT is suspected but ultimately not present. While the number of cases differs from country to country, the value proposition of reducing hospital costs is applicable regardless of geography.

"While the U.S. continues to be our main market for the HIT test, other countries where heparin is widely used are beginning to recognize the medical and economic benefits of being able to diagnose – or rule-out – the presence of HIT rapidly," said Raymond F. Akers, Jr. PhD, Co-founder and Executive Chairman. "India, Germany, Italy and Scandinavia are all big potential markets for this test as heparin is the primary anticoagulant used in surgeries in each of them," continued Dr. Akers.

"In just a year Akers Bio has moved from having practically no representation for this product outside of the U.S. to having a network of distributors targeting 29 ex-U.S. markets," continued Dr. Akers.

"We are delighted to welcome our new distribution partners in India, Germany, Italy and Scandinavia and look forward to supporting their efforts to generate sales in their respective regions," added Nicolas Daurel, Vice President, Sales and Marketing for EMEA.

 

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