Omega Diagnostics Group PLC Progress update (9534A)
07 June 2021 - 4:00PM
UK Regulatory
TIDMODX
RNS Number : 9534A
Omega Diagnostics Group PLC
07 June 2021
OMEGA DIAGNOSTICS GROUP PLC
("Omega" or the "Company" or the "Group")
Progress update
Omega (AIM: ODX), the medical diagnostics company focused on
CD4, infectious diseases and food intolerance, provides the
following update on its UK Government manufacturing contract.
Update on UK Government manufacturing contract
The Company remains in regular dialogue with the Department of
Health and Social Care ("DHSC") to provide manufacturing capacity
for COVID-19 lateral flow antigen tests utilising the key pieces of
manufacturing equipment loaned by the UK Government for that
purpose. Omega is still waiting for confirmation on which test it
will be required to manufacture. Omega is not in control of this
process and this is taking longer than originally expected but the
Company will provide a further update once a test is confirmed. The
ability to supply tests that are produced within the UK remains a
key priority for the DHSC and to that end the DHSC have facilitated
initial commercial discussions between Omega and potential partner
companies with lateral flow antigen tests to potentially provide UK
manufacturing services.
In the meantime, Omega is currently supporting the Government
with additional cassetting and pouching services for other COVID-19
antigen lateral flow tests that are being deployed in the UK.
The Company can also confirm that as part of the UK Government
manufacturing contract announced on 11 February 2021 it has
received cash Preproduction Payments totalling GBP2.5m (excluding
VAT), with GBP2.0m of this cash payment received after the year
ended 31 March 2021. It is expected that an amount per test,
sufficient to recover the Preproduction Payment, will be deducted
until such time as the funds have been repaid.
Colin King, CEO of Omega, commented:
"Whilst confirmation from the DHSC of which test to produce has
taken longer than we had expected, we are confident that we have
the capacity to produce significant volumes of tests once we
receive the requisite confirmation from DHSC. Obviously as soon as
this is confirmed we will update shareholders."
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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END
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