SCOTTISH life sciences company Omega Diagnostics has signed new distribution deals for an HIV test product in three African countries.
The Clackmannanshire-based firm is confident that its Visitect CD4 point-of-care test will make a significant difference to people living with HIV in resource-poor environments in Ghana, Zambia and Zimbabwe.
Omega’s appointment of three distributors follows that of its first dedicated distributor for the CD4 product in Nigeria. Once product registration – a requirement in each country – has completed, business-to-business sales will begin through the new distributors.
Ghana, Zambia and Zimbabwe have been prioritised as they have a high prevalence of people living with HIV.
The chief executive of Omega, Colin King, said that this latest phase of the company’s commercialisation plan for CD4 represented a key part of its strategy to delivering shareholder value. “This also provides further evidence that our CD4 test – the world’s first true point-of-care test – will make a significant difference to people living with HIV in resource-poor environments.”
Aim-listed Omega focuses on developing diagnostic products focused on allergy, food intolerance and infectious diseases.
Last month, the company confirmed that it is to sell most of its infectious diseases business to French group Novacyt in a deal worth up to £2.175 million. It said that it will use the net profits of the sale to provide working capital to commercialise the HIV test and grow its food intolerance business.
A strategic review undertaken by Mr King, who replaced Omega’s founder Andrew Shepherd in December, identified a need to refocus the direction of the business, leading it to close its German allergy business and pull the plug on its Indian manufacturing site to rein in costs.
Mark Brewer, a senior analyst at broker finnCap, said yesterday’s announcement from Omega was “positive confirmation” that the company’s commercialisation plans were progressing.
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