1st Dec 2016 12:13
LONDON (Alliance News) - Akers Biosciences Inc on Thursday said it has signed a deal with First Check Diagnostics LLC under which First Check will serve as the exclusive distributor of Akers' rapid cholesterol self-test in the US.
Under the distribution deal, First Check will sell the test under its 'First Check' brand. First Check sells its products through major retailers including drugstore CVS Pharmacy and discount retailer Target Corp.
Akers' test provides an estimate of a person's total cholesterol as well as their high density lipoprotein cholesterol levels, enabling differentiation between 'good' and 'bad' cholesterol. The test gives a result in five mutes, and is exempt from the US Food & Drug Administration approval process, meaning it can be sold over the counter.
"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," said Akers Vice Chairman Raymond Akers.
"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," the vice chairman added.
Shares in Akers were untraded on Thursday, having last traded at 199.50 pence.
By Hannah Boland; [email protected]; @Hannaheboland
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