Penny told Citywire: ‘There is enough there to make this exciting. They have some products with big potential and are funded for the next 12 months.
Penny tips the Heparin allergy testing product to bring in near-term cash. Indeed, it could be the 'game changer', he says.
Another potential winner is Akers’ breath test for diabetes and the company has now had modest success selling some of the products into emerging markets.
At its update last month, chief executive Thomas A. Nicolette revealed that sales of its commercialised diagnostic products has far exceeded market expectations in the year to the end of December 2010, adding that the group had received its first product order from Al Tadawi Medical in the Middle East for its Tri-Cholesterol check tests.
The deal boosted revenues by some $1.5million. More good news came from the Heparin PF4 test, which produced revenue growth of 37% higher year on year.