Dr Akers steps down as Akers Bioscience chairman

Rapid health information technology developer Akers Biosciences saw its founder and namesake Dr Raymond Akers step down as executive chairman on Monday, instead focusing on the firm’s products and research.

The AIM-traded company’s current non-executive co-chairman, Thomas Knox, would become the company’s sole chairman.

Knox is a Philadelphia-based businessman with high level corporate and governance experience, Akers’ board said, adding he has owned, managed and sold multiple companies in the software, banking and health insurance industries.

They include Disc Systems, Crusader Bank, Gimco International, Kasser Industries and Fidelity Insurance Group.

He also serviced as chief executive officer for United HealthCare of Pennsylvania and as special deputy rehabilitator and chief executive of Fidelity Mutual Life Insurance Company.

Knox was candidate for Mayor of Philadelphia in 2007 and for Governor of Pennsylvania in 2010.

Dr Akers, currently co-founder and executive chairman, was being reappointed as co-founder and chief scientific director.

Akers invented the company’s platform technologies on which its products are based, including Particle ImmunoFiltration Assay, and will continue to lead the scientific development of the firm’s product pipeline and enhancements to its commercialised products.

Akers remains a director of the firm and will continue to interface with shareholders as co-founder.

"Having our recently appointed CEO focusing successfully on product commercialization and operations enables us to deploy the strengths of the Board of Directors more effectively,” said Knox of the changes.

“I am pleased that this allows Dr. Akers to focus on accelerating the development of our pipeline of rapid diagnostic tests."

Dr Akers said the new delegation of responsibilities was a good thing for the company, allowing him to more effectively utilise his technical strengths and advance the firm to the next level of scientific excellence, particularly in the fields of health and wellness, and infectious and respiratory diseases.

“I look forward to continuing to communicate the Akers Bio story to the investment community.”