Medical diagnostics company Omega Diagnostics (ODX:AIM) said the lead partner in the UK Rapid Test Consortium had reached design freeze for the development of its antibody test strip. The shares gave up 3.5% to 47.5p.

The Rapid Test Consortium described the achievement as a ‘major milestone’ and means that the test meets the required performance characteristics and production specifications. The next step will see Omega undertaking its own validation and seeking to demonstrate the test can be manufactured at scale.

Chief executive Colin King said, ‘this key milestone achievement in such a short timescale is a credit to the hard work put in by the consortium, especially Abingdon Health.’

The company plans to scale-up manufacturing to produce 200,000 tests a week by the end of September, with the flexibility to meet further demand, if required.

The antibody test will allow individuals who were previously ill with the virus, but never tested, to potentially go back to work with the knowledge they have built up immunity, once scientists have verified having antibodies conveys immunity.

Earlier this month, Omega Diagnostics started shipping its ELISA antigen test (denoting a current infection) and has interests in five COVID-19 testing opportunities.

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Issue Date: 29 Jun 2020