Life sciences firm wins US deal

Omega Diagnostics, the Alvabased medical testing kit maker, has won a contract to supply its food intolerance screening product to a US company.

The firm’s Foodprint product will be used by an unnamed diagnostics customer which specialises in gut health. The initial agreement is for three years with an option to renew.

Omega said it expects a “modest contribution” from the contract in the current financial year but said the agreement will help it increase sales traction for Foodprint in the huge US market.

It is the second supply agreement secured for Foodprint in the US and house broker Finncap said Omega’s management estimates that there are 30 laboratories in the US which could benefit from the product with the numbers rising easy year. A number of laboratories are currently assessing the product.

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 and allergies due to factors including changes in diet and sensitivity to food additives.

The US is the largest market worldwide, led by an ongoing trend of selective food avoidance there among affluent health conscious consumers

Andrew Shepherd, chief executive of Omega, said: “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.”

Earlier this year Omega, which also produces allergy and infectious disease testing kits, raised £2.6 million to accelerate growth.