Akers Biosciences inked a joint venture agreement with Hainan Savy Investment Management to research, develop, produce, and sell certain Akers’ rapid diagnostic screening and testing products in China. The joint venture company will be located in Haikou and incorporated as Hainan Savy Akers Biosciences.
As part of the agreement, the companies plan to market and sell the majority of Akers’ product line, with a special emphasis on diabetes, cardiac, and infectious diseases rapid diagnostic screening and testing products.
The headquarters will be located in the Haikou National Hi-Tech Industrial Zone and a manufacturing operation will be established in the same area. The business will be structured to utilize numerous government incentives intended to develop and promote the Chinese diagnostic industry. Other market opportunities in Asia will also be explored, the companies said.
Akers offers several diagnostic screening and testing products internationally, including its Breath Ketone test for diabetic monitoring, CHUBE disposable breath alcohol detectors, Tri-Cholesterol test, and particle immunofiltration assay based tests for infectious diseases such as chlamydia, dengue fever, malaria, and syphilis.