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Akers Biosciences Inc

  • BY: Andrew Hore |
  • POSTED: 02/02/2011 |

Diagnostic products developer Akers Biosciences Inc has raised £2m at 4p a share in order to accelerate the roll-out of its diagnostics products.

Akers is employing a direct sales strategy in the US. This will require additional sales personnel from the first quarter of 2011. The Middle east market also has potential for growth.

US-based Akers is also commissioning user studies and field trials for its products as a way of improving their marketing.

Cash is also required for clinical trials. They include breath condensate tests to diagnose asthma, chronic obstructive pulmonary disease and lung cancer.

House broker Daniel Stewart estimates that the 2010 loss was $400,000 and the forecast 2011 loss will be slightly lower.

At 4.12p a share, Akers is valued at £6.9m.

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