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May 16, 2014
06:02 EDTAKERAkers Biosciences signs agreements to market rapid tests in India
Akers Biosciences entered into an agreement with Jai Capital, a Nevada company specializing in market development, distribution, and joint ventures of medical devices in India, to market the company's PIFA Heparin/Platelet Factor-4 Rapid Assay, PIFA Dengue Assay, Battlefield Blood Transfusion Card and Tri-Cholesterol rapid tests. Limited initial sales to the military are expected to enable the military to carry out evaluations of the products. The Directors believe that military approval, if obtained, is likely to occur in the second half of the current financial year. Secondly, Jai will seek to forge one or more strategic partnerships with Indian medical diagnostic companies. It is the Directors' opinion that, if formed, these partnerships may help to facilitate a faster approval process for the Company's tests with the Indian Government and as such it is expected that the approval process will start in due course in the event that such strategic partnerships are formed. Unlike with the military, these approvals are necessary to sell the Company's products into the insurance and medical marketplaces in India.
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