RE: Question?11 Feb 2021 14:01
"This is what was posted by Computer earlier;
"Some Clarification from ODX/Wallbrook
DHSC contract revenue is based on per test not manufacturing contract,
It is expected Mologic test will be the one delivered under this contract
No exclusivity clause stoping us selling the Mologic Antigen test under Visitect to others"
I actually asked Paul to confirm what he said. His response is as follows:
"• Revenues from the DHSC contract would be based volumes of tests produce and not a fixed price contract irrespective of the number of test produced (which is what this investor had asked)
• What I said to this investor was: “Omega is continuing to undertake tech transfer of the Mologic test and ideally that will be the test that passes performance evaluation and so would be manufactured under this contract (however, in theory, it could be another test instead).” – I didn’t say there was any expectation it would be Mologic (only that it would be ideal, but they could produce others).
• That is correct – as I said to this investor: “Under the Government agreement there is no exclusions on the production of other lateral flow antigen tests. So it would not impact the Mologic agreement or Omega’s ability to produce this test under the Visitect brand."
The nuance of what what was actually said, rather than what Computer909 reported was said, is important.
- Revenue is based on volume - not 'per test'.
- There is no expectation that it will be the Mologic test that will be used (although it would be nice/ideal if it was).
- There is no exclusion on the production of other LFT antigen tests or to the Mologic antigen test being sold under the Visitect branding.
However, on the latter point, that is not the same as being able to sell the 'sovereign test' as was suggested.
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