Omega Diagnostics’ ill-fated foray into Covid test manufacturing has been dealt a further blow from the Government after its kit failed to gain approval for self-testing in the UK.
The company’s Visitect product failed under CTDA regulations enacted in the wake of Brexit because some of the studies to validate its effectiveness were carried out prior to the CTDA rules coming into effect. Evidence from these studies, carried out in late 2020 and early 2021, was therefore excluded meaning there were insufficient test results to meet CTDA requirements.
READ MORE: Investors hit back against Omega Diagnostics' multi-million fundraising plans
Omega is withdrawing from Covid test manufacturing to concentrate on its health and nutrition business, having recently sold its facility in Alva to a larger Chinese rival. However, the company’s plans to relocate to England were dealt a setback earlier this week when shareholders rejected accompanying fundraising plans.
Speaking of this latest development, chief executive Jag Grewal said: “Whilst this is clearly disappointing, our plans do not include any contribution from Covid-19 antigen tests, as we focus the business on driving growth in our health and nutrition division.”
Omega shares closed 1.8 per cent lower yesterday at 4.08p.
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