Omega Diagnostics CE-marks Mologic Covid-19 antigen test By Investing.com

By Samuel Indyk

Investing.com – Omega Diagnostics Group Plc (LON:ODX) has today announced that it has CE-marked Mologic’s lateral flow antigen test for Covid-19, to be sold under its VISITECT brand.

The UK-listed diagnostics company said 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 said in a statement to the exchange.

Test Capacity

Omega announced that they are now “well on the way” to establishing lateral flow test production capacity of approximately 2mln tests per week by the end of April from its facility in Alva, Scotland.

“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,” Omega CEO Colin King said.

“Having both tests available and having built our production capacity allows us to adjust our capacity to meet the demands of the pandemic.”

The company said that utilisation of weekly production capacity for the supply of antigen tests under the DHSC contract and other tests is expected to have a significant impact on future performance of the business.

Although volumes are currently unquantified, the company said it is likely to result in “substantial” revenue growth in financial year beginning April 1st 2021.