THOROFARE, N.J., Dec. 10, 2014 (GLOBE NEWSWIRE) -- Akers Biosciences, Inc. (Nasdaq:AKER) (AIM:AKR.L), (the "Company"), a leading designer and manufacturer of rapid diagnostic screening and testing products, announces the receipt of an initial purchase order (the "Order") valued at US$1,000,000 from NovoTek Therapeutics Inc. ("NovoTek") to supply PIFA Heparin PF4/Rapid Assay products in Mainland China ("China").
NovoTek, a Beijing‐based pharmaceutical and medical device business development company, holds the exclusive sales and marketing rights for the Company's PIFA Heparin/PF4 Rapid Assay products in China. The Company expects to deliver the Order by December 31, 2014.
PIFA Heparin/PF4 Rapid Assay and PIFA PLUSS PF4 remain the only US FDA-cleared rapid manual assays that quickly determine if a patient being treated with the blood thinner heparin may be developing a drug allergy. This clinical syndrome known as heparin‐induced thrombocytopenia ("HIT") reverses the 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 timely test result provided by the Company's Heparin/PF4 devices is paramount to effective, clinical decision making. In the U.S. alone, approximately 12 million patients are exposed to heparin annually and 1% to 5% of those patients receive a HIT diagnosis. The largest at-risk populations are patients undergoing major cardiac or orthopedic surgical procedures.
"We believe China can be a very significant market for the Company's PIFA Heparin/PF4 Rapid Assay products," said Raymond F. Akers, Jr. PhD, Co-founder and Executive Chairman of the Board. "Unlike in the U.S. where we are seeking to disrupt a pre-existing, slow, expensive, laboratory-based testing method for heparin platelet factor 4 antibodies, there is, as far as we are aware, no competing test in China," continued Dr. Akers. "We have been working with NovoTek for two years to advance the regulatory approval process required to launch these tests into China. We are delighted that Akers' tests will be the first approved diagnostic assay in China to assist in the diagnosis of the allergy to the widely used blood-thinner, heparin."
"China's healthcare system is improving and the need for reliable and timely diagnosis is becoming increasingly recognized," continued Dr. Akers. "With China's economy growing, we believe it to be the second biggest potential market in the world for our PIFA Heparin/PF4 Rapid Assay products. With no competing test of which are aware, Akers is poised to establish its products as the gold standard," said 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 on our website at www.akersbiosciences.com. Follow us on Twitter @AkersBio.
ABOUT NOVOTEK THERAPEUTICS INC.
NovoTek Therapeutics Inc. is a vital part of NovoTek Group, and is in charge of all international business. To date, NovoTek Group has grown to seven subsidiary companies focused on pharmaceutical marketing, medical and IVD products marketing, and contract research services. NovoTek has its own preclinical research facility, clinical trial and regulatory teams, and more than 600 sales representatives (500 for pharmaceuticals and 100 for medical devices) across China. NovoTek has more than 800 employees and more than 10 local branches nationwide. www.novotekchina.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.