Omega Diagnostics aquires Allergopharma; enters licensing agreement with Immunodiagnostic Systems

Tuesday, Nov 23 2010 by
1

Omega Diagnostics, the AIM-listed medical diagnostics company, announced its intention to enter the allergy diagnostic market through the acquisition of the IVD business of German allergy specialist Allergopharma Joachim Ganzer KG (a unit of Merck KGgA), for a consideration of €6million. Allergopharma's IVD business sells manual allergy diagnostic test kits primarily in the German market.

Omega plans to develop a line up of automated diagnostic tests for the clinical allergy market by way of an exclusive licensing agreement with Immunodiagnostic Systems (IDH) to develop high throughput clinical allergy assays for its IDS-iSYS automatic diagnostic platform. In addition, Omega's semi-automatic Genarryt microarray platform will be fully automated for allergy screening tests. Omega intends to use its extensive distributor network to drive allergy product sales in strategic global markets outside of Germany, where Allergopharma currently has 97% of its sales.

To finance the acquisition and automation strategy, the company is placing 64,583,350 new shares to raise £7.75 million at 12p per share subject to shareholder approval at a general meeting on December 17th, 2010.

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Disclaimer:  

This note was prepared by LCF Research Limited using information provided by the subject company’s management or publically available news sources. No representations are made nor warranties given (express or implied) in relation to accuracy and completeness. This document is not an invitation to invest in the subject company and does not purport to contain all the necessary information that a prospective investor might require. LCF Research Limited recommends prospective investors to conduct their own thorough independent analysis of the subject company and the information contained in this note or referred to above.


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Omega Diagnostics Group PLC is a medical diagnostics company. The Company's segments are Allergy and Autoimmune; Food Intolerance; Infectious/Other, and Corporate. Its product categories include allergy, anemia, autoimmunity, fertility and growth hormones, food intolerance, infectious disease, inflammation, quality control, thyroid hormones and tumor markers. For allergy, it offers Allergodip, which is an enzyme immunoassay for the semi-quantitative determination of Specific immunoglobulin E (IgE) in serum or plasma. For anemia, it offers ATHOZYME Ferritin, which is an enzyme-immunoassay (ELISA) test for the detection and quantification of Ferritin in human serum. It offers a range of products for Rheumatoid Arthritis, Systemic Lupus Erythematosus (SLE), Antiphospholipid Syndrome (APS), Connective Tissue Disease, Gastrointestinal, and Vasculitis and Renal Disease. Its Fertility Hormones products include PATHOZYME-LH (Luteinizing Hormone), PATHOZYME-Prolactin and PATHOZYME-Oestradiol. more »

LSE Price
10.2p
Change
3.0%
Mkt Cap (£m)
13.2
P/E (fwd)
n/a
Yield (fwd)
n/a

Immunodiagnostic Systems Holdings PLC is a specialist in vitro diagnostic solution provider to the clinical laboratory market. The Company develops, manufactures and markets immunoassays and automated immunoanalyser technologies. It operates through three business segments: Automated IVD, Manual IVD, and Licensing & Technology. The automated IVD business consists of 25-OH Vitamin D, specialties and instrument sales. The automated IVD business also consists of the sale or placement of its IDS-iSYS instrument, in addition to selling automated assays and consumables for use in these instruments. The Manual IVD business sells manual assays, radio immunoassays (RIA) and ELISA kits (EIA) to labs. Its assay development is focused in the clinical areas, such as calcium metabolism, bone metabolism, chronic kidney disease, hypertension, fertility and growth. Its subsidiaries include Immunodiagnostic Systems Limited, Immunodiagnostic Systems Nordic A/S and Immunodiagnostic Systems France SAS. more »

LSE Price
203p
Change
 
Mkt Cap (£m)
58.4
P/E (fwd)
44.2
Yield (fwd)
1.1



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