Re Distribution Agreement
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) is
delighted to announce that it has signed an agreement with the Medical Products
and Services Business Unit of Cardinal Health ('Cardinal') to distribute Akers'
PIFA® Heparin / Platelet Factor-4 Rapid Assay. Cardinal had previously taken an
initial stock of inventory, and will begin operations with the Akers' product
this month.
Currently Akers has limited sales representatives exclusively marketing this
product in the U.S. Although the Cardinal organization will not be marketing
this product alone, it will nevertheless transform the scale of personnel
marketing the product and the regions in which Akers is able to penetrate.
Dr. Ray Akers, CEO of Akers Biosciences said, 'Today's agreement represents the
most significant step to date in our strategy to penetrate a large segment of
the U.S. healthcare market. There is a clear medical need for our breakthrough
test for Heparin / Platelet Factor-4 antibodies. This alliance with Cardinal is
all about making our product widely available to hospitals across the U.S., and
greatly increasing our share of voice in the marketplace.'
Information on thePIFA®HPF-4 antibody test and heparin
The PIFA® HPF-4 antibody test is designed to identify patients at risk for
developing heparin-induced thrombocytopenia and thrombosis syndrome (HITTS), a
severe allergic-like side effect associated with the use of the anticoagulant
heparin. The distribution agreement announced today will allow the Company to
introduce the PIFA® HPF-4 test into hospitals where heparin is administered
during surgical and other medical procedures.
Heparin is the most widely used intravenous anticoagulant and one of the most
widely prescribed drugs in the United States. More than 1 trillion units are
administered annually to approximately 12 million patients. Intravenous heparin
is commonly used for the prophylaxis and treatment of thromboembolic disease,
as well as numerous other applications including certain types of lung and
heart disorders, and during or after a variety of surgeries including open
heart, bypass, dialysis and orthopedic procedures. Heparin is also used for
diagnostic and therapeutic interventional radiologic procedures.
Patients with recent exposure to heparin are at a much greater risk for
developing HITTS, than are those not having previously been given the drug. The
presence of Heparin/PF-4 antibody is associated with patients at risk for
HITTS, and is rapidly becoming a standard of care in hematology and cardiology.
HITTS is caused by heparin-dependent antibodies, which form to the Heparin
Platelet Factor-4 complex, and 1-5% of adults exposed to heparin develop these
antibodies. These antibodies are initially formed when a patient has been on
heparin therapy for five or more days. An immune response to a heparin dose may
be observed sooner (1-2 days) if the patient has had previous exposure to
heparin. The hallmark symptoms of HITTS are a drastic fall in platelet count
and thrombosis. Other symptoms may include cutaneous reactions, from a simple
allergic reaction to lesions to necrosis.
The PIFA® HPF-4 Antibody Assay is a rapid manual assay and can be easily
performed when immediate results are required. Because of the rapid progression
of HITTS and its serious potential outcomes, a rapid test result can
significantly impact the clinical intervention of these patients.
Cardinal Health
Cardinal Health (www.cardinal.com) is the leading provider of products and
services supporting the health care industry. Headquartered in Dublin, Ohio,
Cardinal employs more than 50,000 people on five continents and produces annual
revenues of more than $50 billion. Cardinal is ranked No.17 on the current
Fortune 500 list and named one of the best U.S. companies by Forbes magazine
for 2004. The Medical Products and Services group ('MPS') serves hospitals,
surgery centers, laboratories, clinics, physician group practices, long-term
and sub-acute care facilities, home-care companies and other healthcare
providers. MPS manufactures many products, while others come from leading
health and medical companies around the world. In addition, MPS helps medical
professionals control healthcare costs and improve inventory management through
a range of integrated supply-chain services including procedure-based supply
packaging, just-in-time delivery and others. MPS is staffed with 135 sales
representatives and a comprehensive distribution organization.
Akers Biosciences
Akers Biosciences, Inc. develops, manufactures, and supplies rapid, point of
care screening and testing products designed to bring healthcare information
both rapidly and directly to the patient 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. Akers 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.
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