By Kristy Dorsey
AIM-listed Omega Diagnostics closed at a new all-time high yesterday after the company confirmed its share of a first UK Government contract for one million rapid Covid-19 tests.
The AbC-19 antibody test has been developed by the UK Rapid Test Consortium (UK-RTC), of which Omega is a partner. The initial order for one million tests is part of the UK Government’s plan to roll out Covid-19 surveillance studies to build a picture of how the virus has spread across the country.
Omega said it expects to manufacture approximately 175,000 of the first one million tests from its headquarters in Alva. However, it will produce “not less” than 25 per cent of the demand from total orders placed over the term of the Government supply agreement.
READ MORE: Full launch this month as Omega gets Covid test approval
The news pushed Omega’s shares nearly 13% higher yesterday to close at 106p.
“We believe that the AbC-19 Rapid test has the immediate opportunity to allow the UK to build a swift and clear picture of how the virus has spread throughout the population,” Omega chief executive Colin King said.
“It also has the potential to be deployed in conjunction with vaccine candidates to help assess initial immune responses.”
READ MORE: Omega Diagnostics gets key clearance for HIV tests
The AbC-19 uses a small drop of blood from a finger prick, with results shown in 20 minutes. It is currently approved for use by healthcare professionals in the UK, and the UK-RTC is seeking approval for self-testing.
Meanwhile, Glasgow-based ILC Therapeutics has announced that its unique synthetic molecule, Alfacyte, is 15 to 20 times more effective than other commercially available Interferons at preventing the spread of coronavirus within the body. The findings are the result of cell culture tests carried out by independent researchers at the University of St Andrews. ILC said it is now conducting further tests on Alfacyte, and hopes to proceed to clinical trials next year.
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