1st Dec 2015 08:44
LONDON (Alliance News) - Akers Biosciences Inc on Tuesday said that the production facility of its 19.9% owned Chinese joint venture company, Hainan Savy Akers Viosciences Ltd, is now fully operational.
Akers is dual-listed in London and New York. The joint venture with Hainan Savy Investment Management Ltd was established in October last year in order to commercialise a number of the company's screening and testing products in China. The company said that the 10,000 square foot production facility in Haikou National Hi-Tech Industrial Zone, in the Hainan province, is fully staffed and regulatory approval for the manufacturing of products is expected "imminently".
The venture has been marketing several of Akers products, with a particular emphasis rapid breath tests in diabetes, weight loss and fitness.
"China represents a huge potential market for several of the company's rapid diagnostic tests - and none more so than for our tests in the areas of diabetes and weight loss. The scale of the obesity and diabetes problems in China requires simple, fast and affordable solutions that enable consumers and medical practitioners to monitor aspects of health in a more efficient way. We are extremely excited to have a world-class commercial entity on the ground in China addressing these - and other - serious health concerns," said Executive Chairman and Co-Founder Raymond Akers Jr in a statement.
Shares in Akers were flat at 140.00 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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