Akers Biosciences (AKER) Enters Distribution Agreement with First Check Diagnostics

December 1, 2016 7:02 AM EST

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.

Akers Biosciences, Inc. (Nasdaq: AKER) 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.

The Tri-Cholesterol "Check" test is disposable, uses just a finger-stick blood sample and gives a result in only 5 minutes. The test may be sold immediately over-the-counter in the United States as it is exempt from the Food and Drug Administration ("FDA") approval process. The test has three CE marks for the European Economic Area and a Health Canada approval.

According the United States Centers for Disease Control and Prevention, 73.5 million adults (31.7%) in the United States have high 'bad cholesterol' and fewer than 1 in every 3 of them has the condition under control. Too much cholesterol puts people at risk for heart disease and stroke, two leading causes of death in the United States. However, with responsible actions such as self-testing with Akers Bio's Tri-Cholesterol "Check" test, people can take steps to manage their cholesterol levels and lower their risk.

Raymond F. Akers, Jr. PhD, Vice Chairman of Akers Bio, said: "Being able to differentiate between a person's 'good cholesterol' and their 'bad cholesterol' is the key to making over-the-counter, rapid self-testing for this condition truly meaningful. We developed the only test marketed in the USA with the capacity to achieve this and we believe that is why First Check - a major force in rapid diagnostics - has chosen to start selling our test through their popular brand. We hope this is the start of a mutually beneficial relationship between First Check and Akers Bio which could even expand beyond cholesterol and into other areas of rapid testing."

"We are extremely excited at Akers Bio about our new agreement with First Check," commented John J. Gormally, Chief Executive Officer of Akers Bio. "We believe our Tri-Cholesterol rapid manual test coupled with the industry leader in near patient testing creates a formidable force in the retail market segment. First Check has huge distribution into major US drugstores, which could potentially lead to significant exposure for this product and a marked improvement in the quality of self-testing cholesterol levels."

About Akers Biosciences, Inc.

Akers Bio develops, manufactures, and supplies rapid screening and testing products designed to deliver quicker and more cost-effective healthcare information to healthcare providers and consumers. 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 product 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.akersbio.com. Follow us on Twitter @AkersBio.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Corporate News, Management Comments

Related Entities

Twitter

Add Your Comment