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Akers Biosciences Inc
- BY: Andrew Hore |
- POSTED: 14/07/2008 |
- COMMENTS: Add yours
Diagnostic products developer Akers Biosciences Inc has licensed its Lithium CLIA-Waived system to ReliaLAB.
The shares rose 0.25p to 17p on the news. The shares have bucked the market and are 24% higher than six months ago. Akers is valued at £18.9m.
US-based Akers developed a system to test lithium levels in mental health patients. The tests take two minutes. The machine costs $250 and each test will be sold for $11. Children, which tend to be tested every week, and prison inmates will be the main markets.
ReliaLAB is paying $512,000 for the rights to use the system and some inventory. Akers is also talking to a potential manufacturer of the system.
Akers will continue to generate income from supplying the system.
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