Akers Bioscience Reports Signing of European Distribution Deal for PIFA Heparin PF4 Rapid Assay Products

Akers Biosciences, Inc. AKER has entered into its first European distribution agreements since the installment of its international vice president in August 2014. The Company has entered into multi-year distribution agreements for PIFA Heparin/PF4 Rapid Assay products with Cryopep SARL, covering France, Belgium, the Netherlands and Luxembourg; and DiaLine AG, covering Switzerland and Lichtenstein. The Company's PIFA Heparin/PF4 Rapid Assay and PIFA PLUSS PF4 are the only US and EU 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. Millions of patients are exposed to heparin around the world each year 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. Cryopep (headquartered in Montpellier, France) and DiaLine (headquartered in Lausen, Switzerland) are both leaders in the field of haemostasis, which includes coagulation disorders such as HIT. Cryopep's managing director, Norbert Benattar, has been involved in the sale of haemostasis related products since 1987, including as a director of marketing and sales for Diagnostica Stago and Horiba ABX Biogenic; while DiaLine has been distributing haemostasis related products for over 17 years. "Cryopep and DiaLine's respective expertise in the coagulation business makes us confident that we have selected strong partners to launch the PIFA Heparin/PF4 Rapid Assay products into these European territories," said Nicolas Daurel, the Company's Vice President Sales and Marketing for Europe, Middle East and Africa. "I look forward to supporting their marketing strategies." "Growing international distribution, particularly of the Company's flagship PIFA Heparin/PF4 Rapid Assay products, is a core component of Akers Biosciences' growth strategy," said Raymond F. Akers, Jr. PhD, Co-founder and Executive Chairman of the Board. "I am delighted to see the first pieces of the European network established, adding to the already established distribution channels in the US, China, India, Australia and the Middle East."