SOURCE: Akers Biosciences, Inc.

Akers Biosciences, Inc.

April 29, 2016 07:00 ET

Akers Board Rearrangement

THOROFARE, NJ--(Marketwired - Apr 29, 2016) - Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), ("Akers Bio" or the "Company"), a developer of rapid health information technologies, announces changes to the roles of certain board members, which take effect immediately and are designed to improve the effectiveness of the Board of Directors.

Thomas Knox, currently Non-executive Co-Chairman, becomes the Company's sole chairman. Mr. Knox is a Philadelphia-based businessman with high level corporate and governance experience. Mr. Knox has owned, managed, and sold multiple profitable companies in the software, banking, and health insurance industries including Disc Systems, Inc., Crusader Bank, Gimco International, Kasser Industries and Fidelity Insurance Group. He also served as Chief Executive Officer for United HealthCare of Pennsylvania and served as Special Deputy Rehabilitator & Chief Executive Officer of Fidelity Mutual Life Insurance Co., Pennsylvania's 5th largest insurer. He was candidate for Mayor of Philadelphia in 2007 and candidate for Governor of Pennsylvania in 2010.

Raymond F. Akers, Jr. PhD, currently Co-founder and Executive Chairman, becomes Co-founder and Chief Scientific Director. Dr. Akers invented the Company's platform technologies on which its products are based, including Particle ImmunoFiltration Assay (PIFA), and will continue to lead the scientific development of Akers Bio's product pipeline and the scientific enhancements of the Company's commercialized products. Dr. Akers remains a director of the Company and, as Co-founder, will continue to interface with shareholders.

Thomas Knox, Chairman, commented:

"Having our recently appointed CEO focusing successfully on product commercialization and operations enables us to deploy the strengths of the Board of Directors more effectively; I am pleased that this allows Dr. Akers to focus on accelerating the development of our pipeline of rapid diagnostic tests."

Raymond F. Akers, Jr., Co-founder, commented:

"This new delegation of responsibilities is good for the Company. I can more effectively utilize my technical strengths and advance the Company to the next level of scientific excellence, particularly in the fields of health and wellness, and infectious and respiratory diseases, which are potentially huge markets in which rapid diagnostic technology can dramatically improve the quality of care. I look forward to continuing to communicate the Akers Bio story to the investment community."

About Akers Biosciences, Inc.

Akers Biosciences 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.

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.

Contact Information

  • For more information:

    Akers Biosciences, Inc.
    Raymond F. Akers, Jr. PhD
    Executive Chairman
    Tel. +1 856 848 8698

    Taglich Brothers, Inc. (Investor Relations)
    Chris Schreiber
    Tel. +1 917 445 6207
    Email: cs@taglichbrothers.com

    finnCap (UK Nominated Adviser and Broker)
    Adrian Hargrave / Scott Mathieson (Corporate Finance)
    Steve Norcross (Broking)
    Tel. +44 (0)20 7220 0500

    Vigo Communications (Public Relations)
    Ben Simons / Fiona Henson
    Tel. +44 (0)20 7830 9700
    Email: akers@vigocomms.com