Omega Diagnostics Shares Climb After First FoodPrint System Order

Omega Diagnostics (LON: ODX) opened higher Friday after it has now received the first purchase order for its FoodPrint system from a Clinical Laboratory Improvement Amendments (CLIA) certified laboratory in the US.

In addition, the medical diagnostics company has appointed a new US importer for FoodPrint kits.

The company explained that the FoodPrint test kits use a small finger prick of blood and can quickly identify an individual's unique food sensitivity reactions by analysing up to 222 foods for IgG antibodies.

The value of the initial purchase order is around £50,000. However, Omega said the US market is a key area of focus for its growth strategy, and the installation will be the first in the US market in over seven years, representing the beginning of the company's planned expansion into the US.

Omega Diagnostics shares are up around 2.6% at the time of writing, trading around the 3.95p mark.

They expect installation at the laboratory to begin later this month, and after gaining the necessary approvals, the processing of tests will start later this quarter.

The laboratory receiving the system specialises in providing functional tests for consumers and healthcare practitioners.

Furthermore, Omega has also confirmed an importer of its FoodPrint kits into the US. As well as importing kits for the CLIA laboratory, they will also import kits for Omega's own direct channels.

“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,” commented Jag Grewal, CEO of Omega Diagnostics.

“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.”