News blog

Akers Biosciences Inc

• BY: Andrew Hore |
• POSTED: 19/02/2013 |

Shares in diagnostic products developer Akers Biosciences Inc have risen by 11% on the back of the regulatory approval in France of the Breathscan breath alcohol detector.

Chubeworkx Guernsey, which used to be known as Sono, is launching the breath alcohol detector in France today. Since July 2012, a law requires drivers to equip their vehicles with a breath alcohol detector or face an €11 fine. There are 34 million people that own a car in France and the law also covers tourists renting cars or driving their own car in the country. Drivers are advised to have two detectors in the car so that there is always an unused one. Full enforcement will happen from 1 March 2013.

It has taken time for the French approvals to be completed and the number of rival products has increased from two to three.

Chubeworkx will pay Akers $450,000, taking the upfront fee to $1m. Chubeworkx has already ordered 3.5m breath alcohol detectors, worth $1.05m, for the French market.

Sales of the test for heparin-induced thrombocytopenia, PIFA Heparin/PF4, so far in 2013 are higher than in the first quarter of 2012.

At 1.23p a share, Akers is valued at £2.44m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFFebruary2013_41.pdf