Member Info for Okehurst1

Those trophies would sit nice with VISITECT CD4 MHRA equivalence in China that was secured end of 2020

Not an impossibility

If Colin pulls off the Double it would be some feat for the business, feels doable

Last 12 months of lockdown

Share price up over 1000%
£6M cash in bank
250 staff
Monthly capacity increased from few hundred thousands a month LFT’s to approaching 10M
Now the 2nd largest LFT engineer in Europe
WHO recognition for the best non mechanical HIV a test
Chinese recognition for the only Food Tolerance test to achieve MHRA a equivalence
A contract with the Government up to £374M
25% partner of the RTC Abc 19 antibody test
Completed Antigen LFT now in manufacturing

We will get sales numbers soon and as Colin says it will be transformational for Omega.

What could be the encore ?

MHRA for Abc 19 @ their Antigen test, when you consider what Colin has achieved in 12 months you wouldn't back against him.

Well done Colin and your team

Goldrig, antigen is ‘negative ‘ test , ‘ immunity ‘Antibody.

Correct 75p gross per test plus if I remember correctly and an equitable profit share across all 4 partners.

ODX are not sub contractors but equal 25% partners, Abingdon are the consortiums point of contract , we can speculate they enjoy a margin for this role.

We could be looking at higher margin than 75p but speculating of course.

Good find TWAtcher.

Speculating but wonder if RTC have won a contract and it’s about to be announced ? If I recall the Government budget for Antibody tests - documents presented to the Parliamentary review a few weeks ago - was £200M for this calendar year?
You would think RTC would bag some of this ?

Abingdon updated web site targeting USA market
Last night ODX Tweet photo of manufactured products, look like Abc tests amongst other kit?

Something going on sales wise with the Abc test, would be good to know now but I guess that’s what Colin has up his sleeve for the April update.

https://www.abingdonhealth.com/services/usa-canada/

DP, let’s hope so, would be good news for both businesses.

It would be good news for ODX if Avacta did get waved through with emergency MHRA status - this is what ODX / Avacta need.

However the fact the Avacta test targeted the S protein not the N protein spike and as such the test didn’t clear Porton back in January and their self funded in-house clinical trial is based in Europe on a trial with just 30 people , it would take a leap of faith for the test to come back to be used as the U.K. Sovereign biotech, can only imagine the outcry from Jon Deeks & co?

We may all get pleasantly surprised but looking at all the factors it looks like it’s unfortunately back to Porton.

Somewhat overlooked today, Government subsidised tests for U.K. business’s - originally published start of March

It looks like it starts April as we open back up, as long as you have a person with medical experience administering the tests then it’s free, as such for tests that carry the CE a stamp.

This will be at a much higher margin than the £374M Government contract, plus ODX / Mologic have their distribution network already set up.

Excellent opportunity to generate high margin profits / cash
over the coming months/

As Colin said ‘ Truly transformational for Omega ‘

https://www.gov.uk/government/news/free-rapid-tests-for-all-businesses-for-regular-workplace-testing

‘ truly transformational ‘

To be fair,because Colin doesn’t over hype, in fact he’s the reverse, this statement carries a lot of weight.

We can sell these tests to business and the Government cross subsidises, we will make a decent margin whilst await to commence the Government Framework Contract .

Quite suites ODX to max out the next 3 months in the meantime

Goldrig, I think your correct re the sovereign biotech test - I hope so as an Avacta shareholder

It’s just the timeline, this so called sovereign test is months away but it doesn’t matter to ODX today, in fact perversely it’s actually quite helpful for the short term.

Much better to sell the 10M LFT a month at a higher margin via the Government subsidising businesses, take it whilst its there.

ODX and Mologic also have an established distribution network, which is extremely helpful.

Goldrig, it’s not as easy / quick as we hope
It will happen but it’s going to be up to 12 weeks and that’s after Porton Down

I wish it was possible to do in 24hrs, Avacta generate revenue and ODX start the meter on the £374M contract

Either way ODX will be generating revenue from April, they will sell their 10M a month at a higher margin via the Government subsidising the purchase for U.K. businesses.

Really is a nice bit of bunce for ODX, they can make decent profits here until the Sovereign biotech is confirmed

file:///var/mobile/Library/SMS/Attachments/35/05/B62870D0-8668-41B6-8263-3A7D5B0BB4A5/TransferTechnologyPharmaceuticalManufacturingTRS961Annex7.pdf

Exactly, that was my point, it’s just how long via Porton ?

In the meantime ODX sell to business from end of this month via their established distribution channels and the government will in effect be subsiding businesses to purchase ODX tests, ODX a will make a higher margin.

Very nice bit of business whilst ODX a await the sovereign Biotech

Holder of Avacta/ ODX
would only comment on Avacta if relevant to this BB

It may well be the Avacta eventually becomes the sovereign biotech solution - personally I hope it is

But that’s not going to happen until it resubmits/ passes Phase 3a Porton Down, it won’t win government contracts based on an overseas clinical validation via a population of 30 people having previously not passed Porton in January.

Then we have the TT issue, this can take months to complete.

It’s feasible that Mologic who we know have a large contract via GAD have passed Porton with their Biotech, coupled with the fact the Avacta test may have to use Mologic to CE stamp their test because for some strange reason Avacta didn’t sort out their ISO certification to enable them to complete the CE.

So this could go either way, Mologic buffer/reagent short term for the sovereign test or the combined Avacta / Mologic test which is targeting the N protein is slipped quickly via Mologic through Porton.
It may reduce the TT substantially

Either way ODX can’t lose, these commercial antigen tests will be sold indirectly to the government who are funding U.K. business to buy for ‘ free ‘

ODX will sell everything they can make to business at a higher margin funded in effect by the Government then switch to lower margin government contract once the sovereign biotech resolved.

ODX can’t lose, fantastic news today.

When Colin says this in an RNS, you know he means it.

Realist, in both.

Matt, check out the Government preambles for inclusion on their tender list, it clearly states the test has to past Porton Down phase 3/ 3A
CE accreditation won’t do it on its own - not for a U.K. Government contract

I wish it would but it’s not possible today.

Goldrig, it didn’t pass Porton , Avacta have advised on that issue
Which ever we want to word it Avacta didn’t pass the trial.
Just hoping they pass when resubmitted.

Regulator, looks end of month latest , the CE accreditation is Director driven, it’s one task they should deliver their stated time frame - it would be hard to mess this one up as it’s self certificated, that’s my take.

Any earlier than July.