Omega Diagnostics shares up 60% on Covid-19 news

Shares of Alva-based Omega Diagnostics Group rose another 60% on Monday after it said in a stock exchange statement it has “CE-Marked Mologic Ltd’s first generation ELISA antibody test for COVID-19.”

Omega said: “The CE-Mark follows successful independent validation of Mologic’s ELISA test by the Liverpool School of Tropical Medicine and St George’s, University of London.

“Ongoing validations are being performed by Public Health England, NHS Scotland and in the Republic of Ireland. 

“Omega will use its ELISA manufacturing facility in Littleport, Cambridgeshire to manufacture up to 46,000 COVID-19 tests per day.

“Omega and Mologic will now finalise a longer-term supply agreement to commercialise this test which will be used on patient samples sent by hospitals or GPs for laboratory testing.

“Partnering 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.”

Omega CEO Colin King said: “We are pleased that Omega has been able to CE-Mark Mologic’s ELISA antibody test and it is testimony to the teams within both companies that we have reached this milestone in such a short timescale.”

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