Shares of Alva-based Omega Diagnostics Group rose about 20% on Monday after it said it signed a Material Transfer Agreement (MTA) with Mologic Ltd to formalise a partnership to provide manufacturing capability for Mologic’s COVID-19 first generation ELISA diagnostics test.
Omega said that once validated, Omega and Mologic will enter into a longer-term supply agreement with Omega manufacturing up to 46,000 COVID-19 tests per day.
The development of the test has been funded in part by the UK government.
“Once ready, the antibody test will be capable of playing a key part towards identifying people that have built up immunity to coronavirus,” said Omega Diagnostics.
“Omega has provided Mologic with access to one of its manufacturing facilities (which specialises in manufacturing ELISA tests), situated in Littleport, Cambridgeshire, England and both parties have collaborated to produce pilot batches and first validation batches.
“The MTA formalises Omega’s access to raw materials and know-how to manufacture Mologic’s diagnostic test at scale, using Omega’s ELISA manufacturing facility in Littleport.
“Following successful independent validation of Mologic’s ELISA test by the Liverpool School of Tropical Medicine and St George’s, University of London, Mologic has now submitted its test to Public Health England and NHS Scotland for formal validation.
“Once validated, Omega and Mologic will enter into a longer-term supply agreement with Omega manufacturing up to 46,000 COVID-19 tests per day.
“Omega will also CE Mark the test under the MTA, after which both parties will work together to commercialise the test.
“The arrangement with Mologic is separate from, and additional to, the announcement made by the Company on 9 April 2020 relating to the UK Rapid Test Consortium (RTC), which is to jointly develop and manufacture a Point-of-care COVID-19 lateral flow antibody test which could be used ‘at-home’ and which will be manufactured in Omega’s Alva facility in Scotland.
“Mologic’s COVID-19 ELISA diagnostic test is also an antibody test but will be used on patient samples sent by hospitals or GPs for laboratory testing. In the current environment there is demand for both at-home and laboratory-based tests.”
Omega Diagnostics CEO Colin King said: “We are pleased that Omega has been able to support Mologic with the development and scale up of their ELISA test.
“This is another example of the UK diagnostics industry working in collaboration to bring effective solutions in the fight against this global pandemic.”