Omega Diagnostics signs US supply agreement

AIM-listed Omega Diagnostics has signed a supply agreement with a US-based company offering laboratory testing services, specialising in gut health for improved health outcomes.

Omega said the agreement - which covers its microarray-based food intolerance product FoodPrint - is for an initial three-year term and is automatically renewable on the mutual agreement of both parties. It will allow the group to increase traction in the US for FoodPrint, which provides laboratories with a high throughput food sensitivity testing solution.

Omega said it expects a modest contribution from this arrangement in the current financial year.

Chief executive officer Andrew Shepherd said: “We are pleased to have signed this agreement that enables us to broaden our food intolerance product offering in the important US market. We are excited by the prospects for this relationship and believe the capabilities of our chosen partner will enable us to deliver better health outcomes for patients."

At 1010 BST, the shares were up 6.1% 23.35p.