Omega Diagnostics Group PLC US Supply Agreement (6226T)
16 October 2017 - 5:00PM
UK Regulatory
TIDMODX
RNS Number : 6226T
Omega Diagnostics Group PLC
16 October 2017
Omega Diagnostics Group PLC
("Omega" or the "Company")
US Supply Agreement
Omega (AIM: ODX), the medical diagnostics company focused on
allergy, food intolerance and infectious disease, announces that it
has signed a Supply Agreement with a US-based company offering
laboratory testing services, specialising in gut health for
improved health outcomes.
The agreement, which covers Omega's microarray-based food
intolerance product FoodPrint(R), is for an initial term of three
years and is automatically renewable thereafter on the mutual
agreement of both parties. This agreement will enable the Company
to increase traction in the US for FoodPrint(R) which provides
laboratories with a high throughput food sensitivity testing
solution. Omega expects a modest contribution from this arrangement
in the current financial year.
The global market for Food Allergy and Intolerance products is
projected to exceed $24.8 billion by 2020, driven by the rise in
food hypersensitivity, allergies and associated anaphylaxis as a
result of changes in diet and sensitivity to food additives and
increased use of sulphur dioxide and sulphites as preservatives.
The United States represents the largest market worldwide, led by
the ongoing trend of selective food avoidance among the affluent
health conscious consumers. (Source:
http://www.strategyr.com/pressMCP-6441.asp)
Andrew Shepherd, Chief Executive Officer of Omega, commented:
"We are pleased to have signed this agreement that enables us to
broaden our food intolerance product offering in the important US
market. We are excited by the prospects for this relationship and
believe the capabilities of our chosen partner will enable us to
deliver better health outcomes for patients."
Contacts:
Omega Diagnostics Group PLC Tel: 01259 763 030
Andrew Shepherd, Chief Executive www.omegadiagnostics.com
Kieron Harbinson, Group Finance
Director
Jag Grewal, Group Sales and Marketing
Director
finnCap Ltd Tel: 020 7220 0500
Geoff Nash/James Thompson (Corporate
Finance)
Mia Gardner (Corporate Broking)
Walbrook PR Limited Tel: 020 7933 8780 or omega@walbrookpr.com
Paul McManus Mob: 07980 541 893
Lianne Cawthorne Mob: 07584 391 303
This information is provided by RNS
The company news service from the London Stock Exchange
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