The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Coronavirus tests now being discussed on BBC News.
ODX in Hargreaves Lansdowns most viewed stocks of the day. Chart looks great.
Tests sold out at 9:10 this morning. Kits run out and not enough available. Government to increase tests in the next couple of days and announcements to be made according to BBC News.
We can discuss that at closing. Not ramping, watch the trades, look at the charts and learn. GL
As I said in earlier post. £1 by the end of the day and then rise again tomorrow. Great news for ODX’s future. GLA
Sir Bernard Jenkin MP has just said on BBC that testing is to ramp up on a national scale over the next month. They’re to bring in as many tests as they can hold of from UK labs.
Construction has begun on a new diagnostic manufacturing site, which will have capacity to produce up to 40 million tests per year
The first products to be manufactured will be rapid COVID-19 diagnostic tests
The new facility is a legally separate social enterprise with a mission to deliver diagnostics at a fair price to the national and international markets
It will also become a training facility for partners in low-income countries and regions currently poorly served by diagnostics provision
Bedfordshire, UK, 24 APRIL 2020: Mologic Ltd, a leading developer of lateral flow and rapid diagnostic technologies, disclosed today that work is well underway on a new diagnostic manufacturing facility adjacent to the firm’s current laboratory in Bedfordshire, UK.
The facility has been incorporated as an independent, sustainable social enterprise under the name of Global Access Diagnostics, with a commitment to deliver diagnostics at a fair price to both national and international markets.
The expansion is supported by the Foundation for Innovative New Diagnostics (FIND), a global non-profit dedicated to diagnostics for global health. It follows Mologic’s development of consistently high quality, independently verified diagnostic products, including ELISA laboratory tests and rapid diagnostic tests for diseases such as COVID-19 and Ebola.
The first products to be manufactured in the facility will be rapid diagnostic tests for COVID-19, as part of Mologic’s commitment to support the global pandemic response.
The new facility will be operational within eight weeks, enabling the company to produce up to 40 million tests per year, scaling from the existing manufacturing capability.
Global Access Diagnostics will also become a training facility for partners in low-income countries and regions that are currently poorly served by diagnostics provision. The facility will also look to support the establishment of manufacturing partnerships within low-income countries dedicated to serving the specific diagnostic needs of their people and regions.
This work to improve access to high quality diagnostics in countries with less robust health systems builds on Mologic’s existing partnership with the Institut Pasteur de Dakar in Senegal, who have started to manufacture the Dengue test at diaTROPiX, a flagship manufacturing facility in Senegal, ahead of the COVID19 diagnostic in early May.
Omega (AIM: ODX), the medical diagnostics company focused on CD4, infectious diseases, food intolerance and allergy testing, announces that it has signed a Material Transfer Agreement ("MTA") with Mologic Ltd ("Mologic") to formalise a partnership to provide manufacturing capability for Mologic's COVID-19 first generation ELISA1 diagnostics test, the development of which has been funded in part by the UK government. Once ready, the antibody test will be capable of playing a key part towards identifying people that have built up immunity to coronavirus.
Omega has provided Mologic with access to one of its manufacturing facilities (which specialises in manufacturing ELISA tests), situated in Littleport, Cambridgeshire, England and both parties have collaborated to produce pilot batches and first validation batches.
The MTA formalises Omega's access to raw materials and know-how to manufacture Mologic's diagnostic test at scale, using Omega's ELISA manufacturing facility in Littleport.
Following successful independent validation of Mologic's ELISA test by the Liverpool School of Tropical Medicine and St George's, University of London, Mologic has now submitted its test to Public Health England and NHS Scotland for formal validation. Once validated, Omega and Mologic will enter into a longer-term supply agreement with Omega manufacturing up to 46,000 COVID-19 tests per day.
Omega will also CE Mark the test under the MTA, after which both parties will work together to commercialise the test.
The arrangement with Mologic is separate from, and additional to, the announcement made by the Company on 9 April 2020 relating to the UK Rapid Test Consortium (RTC), which is to jointly develop and manufacture a Point-of-care COVID-19 lateral flow antibody test which could be used 'at-home' and which will be manufactured in Omega's Alva facility in Scotland. Mologic's COVID-19 ELISA diagnostic test is also an antibody test but will be used on patient samples sent by hospitals or GPs for laboratory testing. In the current environment there is demand for both at-home and laboratory-based tests.
Colin King, CEO of Omega commented: "We are pleased that Omega has been able to support Mologic with the development and scale up of their ELISA test. This is another example of the UK diagnostics industry working in collaboration to bring effective solutions in the fight against this global pandemic."
Shares in medical diagnostics company Omega (ODX:AIM) traded 46% higher to 55.5p on Monday after the company announced its antibody test for coronavirus has achieved a CE-Mark.
This follows-on from a validation from the Liverpool School of Tropical Medicine and St George’s, University of London while ongoing validations are being performed by Public Health England, NHS Scotland and the Republic of Ireland.
GREATER ACCESS
A CE Mark is a European Economic Area (EEA) accreditation which indicates that products sold within the area conform to health, safety and environmental protection standards. This will clear the path for future sales within the EEA and elsewhere around the world.
Today’s share price gains add to 20 April’s 20% rise on the announcement of the tie-up with Mologic, which will see Omega’s manufacturing facility in Littleport, Cambridgeshire initially produce up to 46,000 tests per day, with a view to finalising a longer-term supply agreement.
HOME TEST KIT
Separately, Omega Diagnostics announced on 9 April it will become part of the UK Rapid Test Consortium to jointly develop and manufacture a COVID-19 antibody test.
Omega’s test kits look similar to pregnancy testing strips but a blood sample is required in place of urine.
The antibody test will allow individuals who were previously ill with the virus, but never tested, to potentially go back to work with the knowledge they have built up immunity.
If you use charts please have a look at the rise. It’s currently steadily rising.
Steady rise on HL charts showing a drop initially if profit takers and nervous investors. Chart shows it’s rising again. £1 by end of the day another slight drop tomorrow before it continues past a £1.
This will keep rising till 5pm announcement. Boris will say more later today.
More announcements over the next few days about testing.
Here we go.
£1 by the end of the day. GLA
NEW BRANCH OPERATING GUIDELINES
Our new health and safety measures are all based on Government guidance regarding social distancing for retail and logistics businesses. When visiting one of our branches please adhere to the following:
Please try and pre-order on the phone number above. We are also still open to you if you haven’t pre-ordered.
Once on site, whether you have pre-ordered or not, we will operate a 1-in-1-out service.
Please follow the instructions on signs around the site, they are for your health & safety.
Please always observe the 2-meter distancing, there are marks on the floor to help you.
We have screens up at our counters, please stand 2-meters back from the counter area.
There is hand sanitiser at the counters, please use it if you are handling cash.
Our ability to support our customers and colleagues will be monitored closely each week and we will update you regularly on any developments in our branch network.
We would like to thank you for your continuing support, we wish you and your families well.
Yours faithfully,
Ashley Chivers
Sales Director
SIG UK
Family own a large building and construction firm. Fully aware of what’s happening in the industry. As someone stated they’re not all opening at once but they are receiving large orders and enquiries.
UPDATE TO BRANCH NETWORK
We have been working closely within Government guidance as it develops during this crisis.
Alok Sharma, Secretary of state for business, energy and industrial strategy, has issued a statement asking that “we keep supply chains moving and key workers mobile, as well as to protect the economy as much as possible”.
Alongside this request, in the last three weeks, we have continued to receive an increasing volume of enquiries from customers looking to source materials to complete projects.
To this end we have reviewed and enhanced our operating guidelines in line with best practice.
We know this is a difficult time for both our businesses and we are working hard to make sure that, although the situation maybe unusual, you can count on us. The number of requests for assistance from customers has grown to the point it now makes sense operationally to trial re-opening strategically located hubs and branches so that we can help customers complete projects and carry on trading. This selection of branches and hubs ensures that we can provide complete coverage for deliveries and enquiries across England and Wales with local collections available from the 20 branches within safety guidelines.
The list of hubs and branches re-opening is below. Initially, we will be following normal trading hours Monday to Friday. Branches will be offering a full service to customers, within social distancing guidelines as detail below in line with Government guidance.
22nd April:
Woking
Bristol Barton Hill
Swindon
Finchampstead
27th April:
Southampton
Lewes
Hanwell
Kentish Town
Park Royal
Croydon Lansdowne Road
Leatherhead
Cheam
Rayleigh
Romford (Oakwood)
Chingford
Sittingbourne
Northampton
Leeds School Yard
Manchester
Birmingham Tyseley
These are the ones that I know of so far and will update as more come through.
Fisherman64 AVCT will most likely rise significantly over the next few weeks once news is released. All the best with it. Nearly invested in it, may go into it over the next week or so. All the best with it. AA. will be a slow riser but that’s not a bad thing if your looking long term.
If this stays around it’s current price then I’ll be jumping on this but just invested a lot in SIG(SHI) as they’re due to fully open on 27th April and building and construction is set to start mid May with strict distancing guidelines. More people driving back to work in May. Invested in SIG as previous investors here had mentioned it and I have done my own DYOR. Hopefully will be joining AA. once we have the rise in SIG. All the best to everyone here.