Full Press Release Details
Biosciences and Premas Biotech Announce Initiation of Animal Studies
intends to cease focus on screening and testing products business
New Jersey, July 7, 2020/ -- Akers Biosciences, Inc. (the "Company") (NASDAQ: AKER), a developer of rapid health information
technologies, today announced with its partner, Premas Biotech, the initiation of animal studies for its SARS-CoV-2 vaccine candidate
in India. Premas has successfully completed the manufacturing process for the VLP (virus like particle) vaccine candidate, including
three antigens from SARS-CoV-2. The 4-week test is expected to be placebo controlled, blinded, and randomized, in mice. The test
will first seek to evaluate safety in the rodent model and secondly examine immune response dose titration. Premas plans to administer
the test across different dose amounts, including amounts that would be applicable to humans.
Kundu, Co-Founder and Managing Director at Premas
Biotech, commented, "We are excited that we have been able to manufacture and characterize the VLP containing three main
proteins from the SARS-CoV-2 virus. We are now moving ahead for this animal study using mice to analyze safety and immunogenicity
of the candidate. We believe it will be first case of a three antigen VLP being dosed in an animal for SARS CoV-2."
is also currently engaged in communications with regulatory authorities in both India and the United States. Data from this study
is expected in approximately six weeks.
with the initiation of this trial, Akers has determined that it will cease shipping its PIFA Heparin / Platelet Factor 4 Rapid
Assay products and will no longer focus on the development, manufacture, and supply of rapid, point of care screening and testing
Schreiber, Executive Chairman of Akers, stated, "The initiation of animal studies is an important milestone for us with
our partner, Premas. Concurrently with the initiation of this trial, the board of Akers believed it would be in the best interest
of stockholders to cease Akers' screening and testing products line of business and to focus its resources on other strategic
priorities that are currently being evaluated."
Biotech develops novel & transformational technologies and partners with global biopharmaceutical companies to build and develop
novel biotherapeutic & vaccine candidates. Premas' key focus areas are infectious diseases, cancer, metabolic
disorders and inflammation. Besides D-CryptTM the difficult to express proteins expression platform, Premas'
leading technologies include Axtex-4D : an ex-vivo tissueoid generation platform and C-Qwence : a fully human
naive India based scFv antibody library. Further information is available on the Company's website: www.premasbiotech.com
email: contact@premasbiotech.com
Akers Biosciences Inc.
Biosciences is pursuing the development of a recently acquired license to a coronavirus vaccine candidate. Akers has also
previously announced that that it had identified the hemp and minor cannabinoid sectors as promising adjacent opportunities
that could benefit from Akers' existing facility and its core competencies.
information on the company and its products can be found at www.akersbio.com.
statements in this press release that are forward-looking and not statements of historical fact are forward-looking statements
within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements include, but are not limited to, statements of historical fact, and may be identified by words such as "anticipates,"
"assumes," "believes," "can," "could," "estimates," "expects,"
"forecasts," "guides," "intends," "is confident that", "may," "plans,"
"seeks," "projects," "targets," and "would," and their opposites and similar expressions
are intended to identify forward-looking statements. Such forward-looking statements are based on the beliefs of management as
well as assumptions made by and information currently available to management. Actual results could differ materially from those
contemplated by the forward-looking statements as a result of certain factors, including, but not limited to, market and other
conditions, changes in the market acceptance of the company's products and services; challenges we may face in identifying,
acquiring and operating new business opportunities; the outcome of litigation or other proceedings to which the company is subject
or which it may become subject to in the future; increased levels of competition; changes in political, economic or regulatory
conditions generally and in the markets in which the company operates; the company's relationships with its key customers;
adverse conditions in the industries in which the company's customers operate; the company's ability to retain and
attract senior management and other key employees; the company's ability to quickly and effectively respond to new technological
developments; the company's ability to protect its trade secrets or other proprietary rights, operate without infringing
upon the proprietary rights of others and prevent others from infringing on the company's proprietary rights; the company's
ability to achieve the expected benefits and costs of the transactions related to the acquisition of Cystron Biotech, LLC, including,
the timing of, and the company's ability to, obtain and maintain regulatory approvals for clinical trials of the company's
vaccine product candidate, the timing and results of the company's planned clinical trials for its vaccine product candidate,
the amount of funds the company requires for its vaccine product candidate, and the company's ability to maintain its license
with Premas Biotech PVT Ltd; and the impact of the recent COVID-19 outbreak on the company's results of operations, business
plan and the global economy. A discussion of these and other factors, including risks and uncertainties with respect to the company,
is set forth in the company's filings with the SEC, including its annual report on Form 10-K filed with the Securities and
Exchange Commission, as may be supplemented or amended by the company's Quarterly Reports on Form 10-Q. The company disclaims
any intention or obligation to revise any forward-looking statements, whether as a result of new information, future events or
otherwise, except as required by law.
Relations: Hayden IR
Mass, Managing Partner