Shares in diagnostics company Omega Diagnostics (ODX:AIM) advanced 3.5% to 64.2p on Tuesday after its partner Abingdon Health (ABDX:AIM) provided an update on the government’s Rapid Test Consortium (RTC).

Abingdon’s shares, which listed on the AIM market on 15 December at 92p, were unchanged at 95p.

SELF-ADMINISTERED ANTIBODY TEST

The UK-RTC was formed in April to develop and manufacture a COVID-19 Rapid Test as part of the Government's five pillar national testing strategy for COVID-19.

The antibody test which is currently approved for emergency professional use in the UK and the EU provides a result in 20 minutes and is able to show the presence of antibodies, indicating a patient may have immunity to Covid-19.

Abingdon said it ‘continues to work constructively’ with the UK Medicines and Healthcare products Regulatory Agency (MHRA) regarding approval for home use.

The company added that its regulatory department was working with UK-RTC partners on regulatory approval in a total of 27 territories.

Omega Diagnostics’ chief executive Colin King commented, ‘We remain confident that the AbC-19TM Rapid Test has a potential global application and we are delighted that the UK-RTC maintains constructive dialogue with interested customers and regulatory authorities across the world.’

The company will provide manufacturing capacity for up to 25% of the consortium’s needs.

Approval of a self-administered antibody test kit would be a welcomed additional tool in the fight against the virus and potentially allow a faster transition to normality.

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Issue Date: 29 Dec 2020