Akers Biosciences Completes $2.5 Million Financing

March 16, 2005

Akers Biosciences announced the company has received $2.5 million, the principal amount of promissory notes convertible into shares of the company's common stock. The promissory notes were issued by an investment group led by Platinum Partners Value Arbitrage Fund with Dunwoody Brokerage Services as the placement agent. The company intends to use the funds for expansion of production facilities and its sales force and as additional working capital following positive market response to its products, in particular for the heparin/platelet factor-4 antibody test.

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