Penny has a strong track record of picking winners from the healthcare and diagnostics market and he sees the near-term prospect of cash generation from the Heparin PF4 product.
This test screens for allergies to a widely used blood thinner, Heparin, which affects some 12 million people in the US. The study for this will commence within the next two to three months and Penny is excited about its prospects.
Last week, Citywire AAA-rated Penny doubled his stake from 14,000 to 28,035,000 shares in the group, taking his ownership of the company to 16.61%.
Penny has none in his L&G UK Alpha Trust as a minimum stake in there would need to be around 4%, but he has put the stock into his life product equivalent.
Akers is currently trading at 3.75p but its broker Daniel Stewart has upgraded its target price from 6p to 10p and calculates some 82% upside following the placing.
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.