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Akers Biosciences Inc

  • BY: Andrew Hore |
  • POSTED: 08/08/2013 |

Diagnostics firm Akers Biosciences Inc plans to gain a listing on NASDAQ and quadruple its size via a US offer. 

At 1.25p a share, Akers is valued at £3.49m. Akers wants to raise $15m at the same time as joining the NASDAQ Capital Market, although the filing says it could raise up to $17.25m. No price has been set. The fundraising will still make Akers a very small company for a NASDAQ listing. It is still early days in the process. There is mention of whether the Aim quotation will be retained in the long-term.

Akers is making the move as sales of its instant breathalyser product are beginning to take off in France. The cash raised will help to finance further product development and moves into other territories.

As well as breathalyser products Akers has PIFA platform based tests for Heparin and infectious diseases. The Heparin test checks for allergies to the drug.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJuly2013_46.pdf

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