Omega Diagnostics Group PLC CE-Mark: Mologic COVID19 lateral flow antigen test (9452S)
22 March 2021 - 6:00PM
UK Regulatory
TIDMODX
RNS Number : 9452S
Omega Diagnostics Group PLC
22 March 2021
OMEGA DIAGNOSTICS GROUP PLC
("Omega" or the "Company" or the "Group")
CE-Mark of Mologic COVID-19 lateral flow antigen test
Omega (AIM: ODX), the medical diagnostics company focused on
CD4, infectious diseases and food intolerance, announces that it
has CE-Marked Mologic Ltd's ('Mologic') lateral flow antigen test
for COVID-19, to be sold for professional-use under Omega's
VISITECT(R) brand. The test will provide healthcare professionals
with an accurate rapid test for the detection of the nucleoprotein
of the SARS-CoV-2 virus in respiratory swabs.
Having commenced technology transfer late last year Omega has
CE-marked the product and is now in the process of completing
marketing launch for commercial roll-out which is expected to start
in April. The Company is already in discussion with a number of
potential commercial partners looking to order the test post
launch.
The Company is well on its way to establishing a lateral flow
production capacity of approximately 2 million tests per week by
the end of April from its Alva facility in Scotland. This
production capacity will be used to produce this VISITECT(R)
branded antigen test for sale to third-party commercial
customers.
The Company's production capacity will be used to fulfil demand
across a range of lateral flow tests:
-- VISITECT(R) CD4 Advanced Disease test - a rapid,
semi-quantitative lateral flow assay used in the treatment of
patients living with HIV
-- VISITECT(R) branded COVID-19 lateral flow antigen tests - now
CE marked and being launched in April as noted above
-- COVID-19 Lateral flow antigen tests - under contract for the
UK Government (as announced on 11 February 2021)
-- VISITECT(R) COVID-19 IgM/IgA/IgG - a rapid test for the
detection of three antibody isotypes to SARS-CoV-2
-- AbC-19(TM) COVID-19 Rapid Antibody Test
Utilisation of the Company's weekly production capacity for the
supply of antigen tests under the DHSC contract, and the supply of
the other tests above, is expected to have a significant impact on
the future performance of the business and whilst volumes are
unquantified it is likely to result in substantial revenue growth
in the financial year beginning 1 April 2021.
Colin King, CEO of Omega, commented: "This is an exciting and
important next step in our COVID strategy as we now have the
ability to supply both antigen and antibody lateral flow tests not
only to the UK Government but also to our commercial partners.
Having both tests available and having built our production
capacity allows us to adjust our capacity to meet the demands of
the pandemic. We look forward with confidence that the coming year
ahead will be truly transformational for Omega."
The information communicated in this announcement is inside
information for the purposes of Article 7 of EU Regulation
596/2014.
Contacts:
Omega Diagnostics Group PLC www.omegadiagnostics.com
Colin King, Chief Executive via Walbrook PR
Kieron Harbinson, Group Finance Director
finnCap Ltd Tel: 020 7220 0500
Geoff Nash/Edward Whiley (Corporate
Finance)
Alice Lane (ECM)
Walbrook PR Limited Tel: 020 7933 8780 or omega@walbrookpr.com
Paul McManus Mob: 07980 541 893
Lianne Cawthorne Mob: 07584 391 303
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