Shares in medical diagnostics company Omega (ODX:AIM) traded 46% higher to 55.5p after the company announced its antibody test for coronavirus has achieved a CE-Mark.

This follows-on from a validation from the Liverpool School of Tropical Medicine and St George’s, University of London while ongoing validations are being performed by Public Health England, NHS Scotland and the Republic of Ireland.

GREATER ACCESS

A CE Mark is a European Economic Area (EEA) accreditation which indicates that products sold within the area conform to health, safety and environmental protection standards. This will clear the path for future sales within the EEA and elsewhere around the world.

Today’s share price gains add to 20 April’s 20% rise on the announcement of the tie-up with Mologic, which will see Omega’s manufacturing facility in Littleport, Cambridgeshire initially produce up to 46,000 tests per day, with a view to finalising a longer-term supply agreement.

HOME TEST KIT

Separately, Omega Diagnostics announced on 9 April it will become part of the UK Rapid Test Consortium to jointly develop and manufacture a COVID-19 antibody test.

Omega’s test kits look similar to pregnancy testing strips but a blood sample is required in place of urine.

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.

READ MORE ABOUT OMEGA DIAGNOSTICS HERE

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Issue Date: 27 Apr 2020