Omega Diagnostics Group PLC US Supply Agreement (6226T)

TIDMODX

RNS Number : 6226T

Omega Diagnostics Group PLC

16 October 2017

Omega Diagnostics Group PLC

("Omega" or the "Company")

US Supply Agreement

Omega (AIM: ODX), the medical diagnostics company focused on allergy, food intolerance and infectious disease, announces that it has signed a Supply Agreement with a US-based company offering laboratory testing services, specialising in gut health for improved health outcomes.

The agreement, which covers Omega's microarray-based food intolerance product FoodPrint(R), is for an initial term of three years and is automatically renewable thereafter on the mutual agreement of both parties. This agreement will enable the Company to increase traction in the US for FoodPrint(R) which provides laboratories with a high throughput food sensitivity testing solution. Omega expects a modest contribution from this arrangement in the current financial year.

The global market for Food Allergy and Intolerance products is projected to exceed $24.8 billion by 2020, driven by the rise in food hypersensitivity, allergies and associated anaphylaxis as a result of changes in diet and sensitivity to food additives and increased use of sulphur dioxide and sulphites as preservatives. The United States represents the largest market worldwide, led by the ongoing trend of selective food avoidance among the affluent health conscious consumers. (Source: http://www.strategyr.com/pressMCP-6441.asp)

Andrew Shepherd, Chief Executive Officer of Omega, commented: "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."

Contacts:

 
 Omega Diagnostics Group PLC                                     Tel: [phone] 
 Andrew Shepherd, Chief Executive                          www.omegadiagnostics.com 
 Kieron Harbinson, Group Finance 
  Director 
 Jag Grewal, Group Sales and Marketing 
  Director 
 
 finnCap Ltd                                                     Tel: [phone] 
 Geoff Nash/James Thompson (Corporate 
  Finance) 
 Mia Gardner (Corporate Broking) 
 
 Walbrook PR Limited                     Tel: [phone] or [e-mail] 
 Paul McManus                                                    Mob: [phone] 
 Lianne Cawthorne                                                Mob: [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 16, 2017 02:00 ET (06:00 GMT)