Omega signs ‘milestone’ Covid-19 test deal
Omega will supply more than 100 clinics
Scottish drug developer Omega has signed a partnership agreement with DAM Health to exclusively supply its COVID-19 antigen tests to more than 100 clinics throughout the UK and Europe.
Omega has already received an initial purchase order worth in excess of £750,000 from DAM Health which is currently using approximately 200,000 in-clinic COVID tests per month.
In a statement to the stock market, Omega said: “With COVID-19 cases surging again and PCR requirements being replaced with Antigen LFTs, this partnership, which is for an initial period of 12-months, sees two innovative and pioneering UK companies combining their expertise and knowledge as we learn to live with COVID-19.”
There is the possibility to broaden the partnership to include Omega’s antigen self-test LFT (once approved) and for DAM Health to sell Omega’s food detective product throughout its network.
There is also provision to extend this relationship beyond Europe, as DAM Health expands its international network of clinics globally.
Additionally, this agreement with DAM Health allows Omega to honour its existing contractual commitments with the Department of Health and Social Care. Omega still awaits a decision from DHSC as to which COVID-19 test the company will manufacture.
Colin King, CEO at Omega Diagnostics, said: “We have been actively seeking commercial partners for our COVID-19 antigen tests with the support of Lansdown Strategic Capital.
“We are delighted to be utilising some of our lateral flow test production capacity and to be working with DAM Health, who are leaders in the space.
“Reaching a commercial agreement with a leading and fast-growing testing provider is a major milestone for the company in bringing our gold-standard test to market and we look forward to working collaboratively with DAM Health and are hopeful that this partnership can be broadened to cover more of Omega’s products, not just in the COVID space.”
Professor Frank Joseph, DAM Health’s medical director, said that bringing together two home-grown companies to provide this solution “is testament to the incredible medical and scientific innovation happening right here in the UK.”