Omega Diagnostics (ODX) has formalised a partnership with Mologic Ltd to provide manufacturing capability for Mologic's COVID-19 first generation ELISA1 diagnostics test. The antibody test has been developed to identify people that have built up immunity to coronavirus and have been part funded by the UK Government.
Through the Material Transfer Agreement, the Company has provided Mologic with access to raw materials, know-how and one of its manufacturing facilities which specialises in ELISA tests. Both parties have collaborated to produce pilot and first validation batches and will now aim to produce Moligic’s diagnostic test at scale.
The Company will CE Mark the test as part of the agreement, after which both parties will commercialise the test
The test has already received independent validation from the Liverpool School of Tropical Medicine and St George's, University of London and has now been submitted for formal validation from Public Health England and NHS Scotland.
Once this validation has been received, Omega and Mologic will enter into a longer-term supply agreement with Omega manufacturing up to 46,000 COVID-19 tests per day.
Shares in Omega have risen substantially from 7p earlier this month to open up 23% to 35.1p following this announcement.
Colin King, CEO of Omega commented: "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."