Company intends to cease focus on screening and testing products business
Thorofare, New Jersey, July 07, 2020 (GLOBE NEWSWIRE) -- 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.
Prabuddha 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.”
Premas 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.
Concurrently 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 products.
Christopher 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.”
About Premas Biotech
Premas 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
About Akers Biosciences Inc.
Akers 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.
Additional information on the company and its products can be found at www.akersbio.com.
Forward Looking Statements
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