Omega Diagnostics Gp - US expansion update

Cambridge Nutritional Sciences

06/01/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230106:nRSF8680La&default-theme=true

RNS Number : 8680L  Omega Diagnostics Group PLC  06 January 2023

OMEGA DIAGNOSTICS GROUP PLC

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

 

US expansion update

 

Maiden US Laboratory FoodPrint® installation,

Appointment of US importer for FoodPrint® and

First PO from US CLIA certified Lab heralds start of US expansion

 

Omega (AIM: ODX), the specialist medical diagnostics company focused on
promoting a personalised and functional approach to health and nutrition,
announces that it has now received the maiden purchase order ('PO') for its
FoodPrint® system from a CLIA certified ('Clinical Laboratory Improvement
Amendments') laboratory in the United States, and has appointed a new US
importer for FoodPrint® kits.

 

Using a small finger prick of blood, the FoodPrint® test can quickly identify
an individual's unique food sensitivity reactions, allowing the patient to
adjust and plan to a new diet and address IgG-mediated food sensitivities.
FoodPrint® analyses up to 222 foods for IgG antibodies and is trusted by more
than 150 laboratories worldwide, to help fast track a guided elimination diet
allowing a more focused and actionable result for practitioners and their
patients.

 

The Board expects installation at the laboratory to commence later this month
and after a period of validation and gaining necessary approvals, the
processing of tests to begin later this quarter. As well as being CLIA
certified, the laboratory receiving the system is also College of American
Pathologists accredited and specialises in providing functional tests for both
consumers and healthcare practitioners.

 

Omega has also secured an importer for FoodPrint® kits into the USA. The
importer will import kits for the CLIA laboratory as well as for Omega's own
direct channels in future.

 

Although the value of this initial PO is circa £50,000, the US market is a
key area of focus for Omega's growth strategy and this installation will be
the first in the US market in over seven years, representing the beginning of
Omega's planned expansion into the USA.

 

Jag Grewal, CEO of Omega Diagnostics, said: "The US is the single largest
market for food sensitivity testing globally, with an ever-increasing demand
for personalised medicine, and is a focus area for our growth plans. This
installation reflects a key milestone in our expansion plans, the receiving
laboratory is ideally placed to commercialise FoodPrint® in the US market as
they are already providing a range of other functional tests. The appointment
of the US importer will act as a foundation for our expansion into the region.

 

"Once the system has been commissioned, we plan to collaborate closely with
our laboratory partner to ensure FoodPrint® is promoted effectively through
their existing healthcare practitioner and direct to consumer channels."

 

 

Contacts:

 Omega Diagnostics Group PLC                                      www.omegadx.com (http://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 (mailto:omega@walbrookpr.com)
 Paul McManus                          Mob: 07980 541 893
 Lianne Applegarth                     Mob: 07584 391 303
 Sam Allen                             Mob: 07502 558 258

 

About Omega Diagnostics Group PLC

Omega (AIM: ODX) is a specialist medical diagnostics company focused on
promoting a personalised and functional approach to health and nutrition.

www.omegadx.com (http://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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDBAMLTMTTMBAJ