Allergy Development Update

RNS Number : 6842A

Omega Diagnostics Group PLC

24 February 2014

 



Omega Diagnostics Group PLC

("Omega" or the "Company")

Allergy Development Update

Omega (AIM: ODX), the medical diagnostics company focused on allergy, food intolerance and infectious disease, announces that it is making significant progress in its programme to launch a panel of 40 allergens on the IDS-iSYS automated analyser.

Further to the update given in the interim results announcement in November 2013, the Company confirms that it has completed the claim-support work with the first group of seven allergens that will continue to undergo long-term stability studies.  A further 11 allergens have completed optimisation and will now move into claim-support and, in addition, there are currently a further 11 allergens undergoing optimisation.

The completion of the claim-support work with the first seven allergens demonstrates the Company's ability to progress from initial assay creation and feasibility, to a product which is reproducible and whose performance is comparable to the current market leader. It also provides an insight and greater accuracy into the flow-through work rate of claim-support for the first time.  

The launch timetable is undergoing revision and is now mainly dependent on the rate of success of the remaining new allergens completing optimisation and we will provide a further update around the end of the current financial year. The Board believes that significant progress has been made in proving that its development programme can deliver a competitive product to the market and has increased confidence in achieving full-scale commercialisation for its launch panel.

Commenting on the Allergy Development Update, Andrew Shepherd, CEO of Omega said: "We are pleased with the progress being made towards our goal of launching the initial 40 allergen test panel on the IDS-iSYS platform. The progress made increases our confidence in being able to launch a competitive product into the Allergy testing market which is currently dominated by only one player."

Contacts:

Omega Diagnostics Group PLC	Tel: [phone]
Andrew Shepherd, Chief Executive	www.omegadiagnostics.com
Kieron Harbinson, Group Finance Director
Jag Grewal, Group Sales and Marketing Director
finnCap Ltd	Tel: [phone]
Geoff Nash/Christopher Raggett (Corporate Finance)
Stephen Norcross/Mia Gardner (Corporate Broking)
Walbrook PR Limited	Tel: [phone] or [e-mail]
Lianne Cawthorne	Mob: [phone]
Paul McManus	Mob: [phone]

 

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