ODX

TIDMODX

RNS Number : 7902B

Omega Diagnostics Group PLC

05 October 2022

OMEGA DIAGNOSTICS GROUP PLC

("Omega" or the "Company" or the "Group")

Positive WHO data received for VISITECT(R) CD4 test

Test shows high diagnostic accuracy (specificity and sensitivity)

Omega (AIM: ODX), the specialist medical diagnostics company focused on industry-leading Health & Nutrition, welcomes receipt of the draft Performance Evaluation report for the VISITECT(R) CD4 Advanced Disease Rapid test , issued by the World Health Organisation ('WHO') on 3 October 2022 .

In August 2022, Omega confirmed the sale of its CD4 Business to Accubio Limited ('Accubio') and under the terms of the agreement the Company expects to receive up to an additional GBP4.0m, contingent on the successful outcome of the clinical study in Kenya, required in order to maintain the test's WHO pre-qualification status. The receipt of the draft Performance Evaluation is an important milestone in completing the pre-qualification process and in releasing the deferred consideration funds to the Company.

The VISITECT(R) CD4 Advanced Disease Rapid Test was evaluated at the Kenya Medical Research Institute, Kisumu, Kenya on behalf of WHO , where a total of 300 specimens were analysed. The report concluded that the VISITECT(R) CD4 Advanced test showed high sensitivity of 96.0% (95% CI: 90.1-98.9) and a specificity of 96.0% (95% CI: 92.3-98.3) from whole blood specimens and high sensitivity of 95.0% (95% CI: 88.7-98.4) and a specificity of 97.0% (95% CI: 93.6-98.9) using capillary blood specimens. Repeatability and reproducibility on specimens with reference values <150 or >250 CD4+ T-cells/<MU>L was 100%. These results are in line with management's expectations.

Omega now has until 3 November 2022 to review and comment on the draft report and the results submitted. A summary of the Performance Evaluation report will then be included in the WHO prequalification Public Report if the product successfully meets all WHO prequalification requirements.

Jag Grewal, CEO of Omega Diagnostics said: "We are extremely pleased to receive this draft report, detailing that the test has shown high diagnostic accuracy. Whilst we have no visibility of the WHO pre-qualification requirements, it is encouraging to formally receive these positive results. If the VISITECT(R) CD4 Advanced Disease test successfully meets all WHO pre-qualification requirements, it will continue to be made available for sale by Accubio and the Company will receive the full GBP4.0m of deferred consideration. We look forward to updating shareholders on the outcome in due course."

Contacts:

 
 Omega Diagnostics Group PLC                                            www.omegadx.com 
 Jag Grewal, Chief Executive Officer                                    via Walbrook PR 
 Chris Lea, Chief Financial Officer 
 
 finnCap Ltd                                                         Tel: 020 7220 0500 
 Geoff Nash/Edward Whiley/George Dollemore (Corporate 
  Finance) 
 Alice Lane/Charlotte Sutcliffe 
  (ECM) 
 
 Walbrook PR Limited                         Tel: 020 7933 8780 or omega@walbrookpr.com 
 Paul McManus / Sam Allen / Lianne                 Mob: 07980 541 893 / 07502 558 258 / 
  Applegarth                                                              07584 391 303 
 
 

About Omega Diagnostics Group PLC

Omega manufactures and distributes high quality in-vitro diagnostic products in over 70 countries for use in clinics, laboratories and by healthcare practitioners specialising in the area of health and nutrition.

www.omegadx.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCEAEELESDAFAA

(END) Dow Jones Newswires

October 05, 2022 02:00 ET (06:00 GMT)

Omega Diagnostics (LSE:ODX)
Historical Stock Chart
From Mar 2023 to Mar 2023

Omega Diagnostics (LSE:ODX)
Historical Stock Chart
From Mar 2022 to Mar 2023