"John J. Gormally, Chief Executive Officer of Akers Bio, commented:
"Akers Bio is delighted to have signed a three-year agreement with GNYHA, one of the premier group purchasing organizations in the United States healthcare sector. Their membership includes a diverse listing of prominent and large integrated delivery networks (IDNs) and hospitals. Enhanced access to GNYHA's network has the potential to dramatically increase domestic sales of our flagship product."
"Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), (the "Company" or "Akers Bio"), a developer of rapid health information technologies, has signed a distribution agreement with First Check Diagnostics, LLC ("First Check"), the major global diagnostic device and service provider, to serve as the exclusive distributor of the Company's rapid cholesterol self-test in the United States under their "First Check" brand.
First Check products are sold through major retailers including, CVS, Rite Aid, Target, Kmart, Meijer, Giant Eagle, Stop & Shop, Giant and ShopKo.
Akers Bio's Tri-Cholesterol "Check" test is the only combined rapid test which provides an estimate of a person's Total cholesterol as well as their High Density Lipoprotein ("HDL") cholesterol levels - their 'good cholesterol'; thereby providing an estimate of a person's Low Density Lipoprotein ("LDL") levels - their 'bad cholesterol'. These features are essential to accurately differentiating between a person's 'good' and 'bad' cholesterol thereby making it a truly effective screening test for high cholesterol.
$800,000 cash in hand, with $2m due from Novatek in the next month (before 31st December), so hopefully this will run smoothly.
The concluding outlook reads extremely well - notably re profitability next year:
Akers Bio moves into the final quarter of 2016 with excellent momentum in domestic sales of our flagship rapid test for HIT and with the remaining $2,000,000 due under the Novotek order for products in China which we expect to be fulfilled in the fourth quarter. There is also evidence of further demand for Akers Wellness products which are expected to produce additional sales in the remaining months of the year. The combination of these growing product sales and a leaner cost base is expected to enable Akers Bio to trade profitably both in the final quarter and, more significantly, in 2017."
The breath test for diabetics seems like a potentially huge winner imho, backed up by the comment in the RNS:
"The technology has a large number of potential mass-market applications, including within health and wellness, but in particular, we believe the ability to help Type 1 and some Type 2 diabetics monitor their ketone levels in a non-invasive, convenient format will be a significant advancement in the management of a disease that affects hundreds of millions of people worldwide," added Dr. Akers."
"Dan DelMastro, CEO of Aero-Med added, "Aero-Med recognizes the enormous market potential for products within the health and wellness sector so we are delighted to be incorporating OxiChek into our sales offering. Having personally observed the positive customer reaction to OxiChek at conventions in recent months, I am optimistic that there is strong potential for this product."
Great RNS - the Chinese FDA have approved "for medical use throughout Mainland China the Company's flagship rapid tests for allergic reactions associated with the widely used blood-thinner, heparin."
With Novotek already in place as the distributor, this is excellent news for a mere £9m m/cap company. And Akers' test is the first and only such test of its kind in China.
Consider the size of Novotek:
"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 "
Commercializes New App-Enabled Tests for Health and Wellness Industry and Consumers
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, announces that all development specifications have been finalized and production has commenced for its two transformational breath tests designed for the health and wellness industry and consumers.
Akers Bio is launching the BreathScan OxiChek ("OxiChek") and BreathScan KetoChek ("KetoChek") tests this week at the Supply Side West conference in Las Vegas, Nevada. The conference focuses on dietary supplements and sports nutrition, two key markets for these new products.
OxiChek is the first disposable breath test to rapidly determine levels of oxidative stress (free radicals) in the body. OxiChek measures the most abundant free radicals including superoxides, hydrogen peroxide and aldehydes - unlike some pre-existing devices which measure only one. Frequent use of OxiChek may help consumers and professional clients manage and adhere to their regimen of nutritional supplementation for management of oxidative stress, which is implicated in many diseases, including cardiac, cancer and arthritic diseases.
KetoChek, and the Company's non-quantitative version, METRON®, are the only disposable breath-based diagnostic devices that rapidly determine if the subject is in the optimal fat-burning state for weight loss, known as ketosis. Achieving a state of ketosis - as indicated by the measure of breath ketones - is a goal of many individuals following low carbohydrate diets. KetoChek is a simple, non-invasive test to identify, track and quantitatively monitor breath ketones for individuals interested in maximizing weight loss...
.."The response to the Akers Wellness products has been overwhelmingly positive," said Raymond F. Akers, Jr. PhD, Co-founder and Executive Chairman. "We launched our first product, METRON®, into this market last month, including through the Amazon marketplace. Now, the Company is expanding its market reach through our efforts at Supply Side West, targeting multi-level marketing companies in the nutraceutical business, fitness and weight loss centers, chiropractors, and anti-aging medicine physicians. The Company is aggressively seeking distribution into these market segments," continued Dr. Akers.
"We believe that consumers are increasingly looking for personalized health, and that the BreathScan platform will provide the footprint for the Company to enter into the new era of digital medicine. Our new health and wellness products are poised to make an impact now as we commence production and will begin shipping this quarter....."
Raymond Akers, chief executive of Akers Biosciences (LON:AKR), reckons the global heparin-induced thrombocytopenia (HIT) test industry is not far away from being valued as a US$1bn market.
Akers is a front runner in the space and has distribution for its own HIT test in every major diagnostic market after inking agreements for India, Germany, Italy and Scandinavia.
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 test is the only US and EU cleared rapid test to detect a potentially fatal allergy to the widely used blood thinner, heparin.
That allergy reverses the effect of heparin and turns it into a clotting agent, which is clearly very dangerous."
"Akers Biosciences Introduces New Rapid Breath Ketone and Oxidative Stress Tests to the Health and Wellness Industry
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, introduced two new breath tests to the U.S. market from the Company's Akers Wellness division at the World Congress on Anti-Aging Medicine in Hollywood, Florida, USA last week.
Brief notes from last night's presentation - apologies if anything written down/understood incorrectly:
Sales should be up to $7.2m this year, with breakeven during the period, and ending with approx.$10m cash (i.e almost 50% of the m/cap).
AKR can produce $50m of sales from their existing facilities, so there's no need for material capital expenditure.
- the price of AKR's Heparin test is to be INCREASED from May 1st, due to the huge savings for hospitals
- 10 new sales reps are each opening 3 new hospital/customer accounts per month, each selling $30k per annum, which I calculate to be $10.8m revenues per annum once a year's selling is up and running
- there should be one or two further Chinese orders this year
Cholesterol test is perfect for Australia given distances/flying doctors etcf, and has achieved $900,000 of unbudgeted sales
5 products currently on the market, growing soon to 11
Future products include (1) breath test for lung cancer, (2) test for type 1 diabetics, at 73% margins (this is AKR's lowest margin test!), (3) chlamydia test, to be perfected this summer after clinical trials.
AKR's great advantage is that clinical trials only take a few months and cost relatively little.
The diabetes test will be launched in China and USA this year. AKR already have a Chinese facility. I think he said the asthma test is this year too.
There's no competition for the heparin and other breath tests (except the alcohol test in Europe).
"Pioneering drug company boosted by marketing deal
One Alternative Investment Market company hoping to buck the general malaise on the junior market is Akers Biosciences, which will today announce a deal to begin marketing one of its flagship treatments in Britain and eight other European countries.
Akers, which has a dual Aim and Nasdaq listing, has developed a pioneering new test that can rapidly detect whether patients have a potentially fatal allergy to heparin, the blood thinning drug routinely used in hospitals around the world. The test is already in use in the US healthcare systems but Akers will now begin selling it far more widely across Europe, the Middle East and Africa.
The potential for the test is enormous while millions are prescribed heparin, as many as 5 per cent of them develop an allergy to the product. Patients undergoing serious heart surgery or major orthopaedic procedures are regarded as particularly vulnerable to such problems."
Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), ("Akers" or the "Company"), a medical device company focused on reducing the cost of healthcare through faster, easier diagnostics, has added six new distributors to market its rapid tests for heparin]induced thrombocytopenia ("HIT") in nine additional countries within Europe, the Middle East and Africa (EMEA).
The Company has signed multi-year distribution agreements for PIFA Heparin/PF4 Rapid Assay products with Pathway Diagnostics Ltd, covering Great Britain; ACCUSCIENCE Ireland Ltd, covering Ireland and Northern Ireland; Tokra Medikal Tic Ltd Sti, covering Turkey; LabPro d.o.o, covering Serbia, Montenegro, Macedonia, Bosnia and Herzegovina; AVL Sofia Ltd, covering Bulgaria; and MASTERLAB SARL, covering Morocco.
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.
"As sales of our rapid tests for HIT continue to rise in the U.S. we are actively seeking to roll out the marketing to other countries around the world," said Raymond F. Akers, Jr. PhD, Co-founder and Executive Chairman of the Board. "These additional distribution partnerships add to our expanding global footprint which now exposes the Company's flagship test to 20 non-U.S. markets including China," continued Dr. Akers.
"Key to growing the international footprint is partnering with distributors with the right networks and experience to drive sales - in some cases in countries where there is no established procedure for testing for HIT," added Nicolas Daurel, Vice President, Sales and Marketing for EMEA. "We are confident that our international partners have these credentials and look forward to supporting their strategies.""
"European Patent Granted for Akers' Rapid Blood Separation Technology
Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), (the "Company" or "Akers"), a leading designer and manufacturer of rapid diagnostic screening and testing products, announces that the European Patent Office has issued a patent surrounding the Company's novel blood separator technology and method of separating a fluid fraction from whole blood (the "Technology"). Akers was granted U.S. patent protection for the Technology in 2011.
The Technology, developed and wholly owned by Akers, enables rapid blood cell separation of small volumes of whole blood, including those obtained from finger stick samples. By utilizing the Technology, serum or plasma samples are extracted within 30-90 seconds and are ready for immediate analysis. By contrast, conventional methods of blood cell separation are labor-intensive and time consuming, taking 30-120 minutes, and typically involving blood collection and laboratory personnel as well as electrically-powered centrifuges and other specialized equipment.
The Technology, which further accelerates the rate at which a test result is obtained, is marketed by Akers under the brand name seraSTAT® and forms a key component of the Company's PIFA product range (Akers' proprietary platform for rapidly detecting or measuring specific proteins or other substances through their properties as antigens or antibodies). In addition to seraSTAT®'s incorporation within some of the Company's own diagnostic tests, Akers intends to license its proprietary blood separator Technology to third parties seeking to accelerate their own testing procedures by facilitating the blood cell separation process as a component of their test.
"We believe the Company's blood separator Technology has a wide range of potential applications and we are actively seeking potential commercialization partners and licensees in both Europe and the U.S.," said Raymond F. Akers, Jr. PhD, Co-founder and Executive Chairman of the Board.
"This Technology can make blood cell separation dramatically quicker and less resource-intensive than traditional methods - with significant potential advantages related to cost savings, staff efficiency, and the ability to perform certain diagnostic tests in the field versus lab environments," continued Dr. Akers."
Good to see the share price moving up again today - there doesn't seem to be much stock around given that a single buy caused a tick up, whilst a sell achieved a good premium to the bid price.
If AKR achieve the numbers in this interview then the share price should move a long way forward from here imo, especially considering the current $10.2m cash pile against the £12.8m m/cap.
"5 Jan 2015
"ORLANDO, Fla., Jan. 5, 2015 (GLOBE NEWSWIRE) -- RedChip Companies, Inc. today announced that "The RedChip Money Report: Small Stocks Big Money"(TM) television program host Dave Gentry interviewed Raymond F. Akers, Jr. PhD, Co-founder and Executive Chairman of Akers Biosciences (AKER). During the interview, Dr. Akers provides insight into the Company's current value, growth prospects, and overall opportunity.
Aegis Capital has an $11 per share price target on Akers Biosciences, which currently trades at 1.26x book value at $3.70 per share. During the interview, Dr. Akers reconfirms the Company's 2014 revenue guidance of $4 million to $5 million and forecasts 2015 revenues of $7.2 million to $10 million. Akers Biosciences is expected to reach profitability once it reaches $8.8 million in annual sales."
"Approved Prearrest and Evidential Breath Testing Devices
CONFORMING PRODUCTS LIST OF ALCOHOL SCREENING DEVICES
Akers Biosciences, Inc., Thorofare, New Jersey Breath Alcohol xx .02 Detection System.8
8 The Breath Alcohol xx .02 Detection System consists of a single-use disposable breath tube used in conjunction with an electronic analyzer that determines the test result. The electronic analyzer and the disposable breath tubes are lot specific and manufactured to remain calibrated throughout the shelf-life of the device. This screening device cannot be used after the expiration date.
"Prearrest breath testing devices approved under this authority may be used by police officers, waterways patrolmen and officers enforcing the Vehicle Code, the Fish and Boat Code and the Game and Wildlife Code in conducting preliminary determinations of the alcohol content of blood of persons suspected of driving, boating, hunting or furtaking while under the influence of alcohol. Officers and patrolmen use these devices to assist them in determining whether or not a person should be placed under arrest for violation of 75 Pa.C.S. § 3802 (relating to driving under influence of alcohol or controlled substance), for violation of 30 Pa.C.S. § 5502 (relating to operating watercraft under influence of alcohol or controlled substance), for violation of 34 Pa.C.S. § 2501 (relating to hunting or furtaking prohibited while under influence of alcohol or controlled substance) or for any other criminal offense under the Vehicle Code, the Fish and Boat Code or the Game and Wildlife Code which involves operating a vehicle or boat, hunting or furtaking while under the influence of alcohol."
Revenue for 2015 is projected at $10.5m with a profit of $1m......
"Target price for AKER is estimated at $11.80. The target price is based on the current P/S multiple of 5.57x (ttm) and an estimated revenue of 10.5M or $2.12 per share. The target price is well above todays trading price of $4.15 leading to a buy recommendation for Aker. Todays price is considered an attractive entry point considering that AKER is trading just above the book value (1.26x), has no debt, has significant cash in their balance sheet and is generating revenue from its current product lines and has several new product lines launching in FY2015.
Summary & Conclusion
Aker Bioscience Inc. has much to smile about in the upcoming fiscal year. The PIFA Heparin PF4 Rapid Assay product line has been very successful in the US and has now been approved for distribution in Europe (press release Dec 18). With several more product lines nearing distribution stages, the outlook for FY 2015 is nothing but positive. Revenue is expected to double estimates of FY2014 and share price is estimated at $11.80."
If you look at the share price chart of Akers Bioscience youd think it hadnt been a particularly clever year for the diagnostics company.
Yet in the past 12 months it has done everything it said it would. The company has developed a rapid test for an allergic reaction to the blood thinner heparin. In the developed Western medical system it offers a cheap and very timely alternative to the current lab tests. In developing economies such as China, where there currently are no lab tests, it will go on to be the gold standard diagnostic.
Indeed the group received its first big order (for £640,000) from the Peoples Republic. There is the promise of more of these deals next year as Akers continues to sign distribution agreements. Broker finnCap says the firm will break even in 2016; however at the current run rate the golden milestone could come much earlier.
It has around £8million of cash in the bank enough to last three years and is valued at just £15.5million. The heparin test is the first of a number of potential big sellers rolling off the Akers production line, including rapid diagnostics for lung cancer and cholesterol."
¡°The Chinese market is as big as the US and there isn¡¯t product approved there, so that is a market that¡¯s going to rocket,¡± said chairman Akers.
¡°We automatically become the gold standard. In Europe there are established laboratory methods and a much more entrenched medical system than there is in China, so the uptake in Europe won¡¯t be as fast ¨C but it will be steady.¡±
Akers¡¯s product is the only US FDA-cleared rapid manual assay that is able to quickly determine if a patient being treated with the blood thinner heparin may be developing a drug allergy.
Patients suffering HIT are at risk of developing limb and life-threatening complications, so fast and effective diagnosis of the problem is critical.
It will be sold as a value proposition in established markets such as Europe, where it offers quicker diagnosis and crucially is cheaper than the established lab tests.
Meanwhile, in emerging markets such as China, and India, where the firm also has a distribution deal, it is aiming to become the test of choice.
¡°Akers's rapid diagnostic tests surpass most other current products with their portability, speed, ease of use, low cost and accuracy,¡± said Keith Redpath of the broker finnCap.
¡°We believe the benefits of these products are therefore well suited to the diagnostic demands of third world countries lacking basic health infrastructure.¡±
Akers has a suite of other new products based on six proprietary platform technologies. They range from a rapid lung cancer detector through to a device that measures HDL, LDL and total cholesterol levels instantly, so the heparin test is just the start.
Given the recent round of good news, the shares have been subdued, treading water at around 220p a share. The growth company broker finnCap reckons the stock is worth 310p and is predicting Akers will break even 2016.
That important landmark may even be achieved next year if Akers continues to progress at its current pace.
¡°The message is pretty simple: we are confident, we are on track. The strategy we laid out a year ago is working. We are very confident we are build
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