London-listed Omega Diagnostics (ODX) saw shares soar over 46% on Monday after the group announced that its antibody test for coronavirus achieved a CE-Mark.
The medical diagnostics company told investors it had CE-Marked Mologic's first generation ELISA1 antibody test for Covid-19 to be used on patient samples sent by hospitals or GPs.
The confirmation follows a successful independent validation of Mologic's ELISA by the Liverpool School of Tropical Medicine and St George's, University of London.
Omega will use its ELISA manufacturing facility in Littleport, Cambridgeshire to manufacture up to 46,000 COVID-19 tests per day.
Shares in Omega Diagnostics were trading 40.79% higher at 53.5p on Monday morning.
Omega and Mologic will now finalise a longer-term supply agreement to commercialise this test which will be used on patient samples sent by hospitals or GPs for laboratory testing.
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.
"We are delighted to be part of this consortium and to support the Scottish and UK Governments' efforts to combat the Coronavirus pandemic,” said Colin King, CEO of Omega.
Once the test reaches design freeze, procedures will be shared with the parties to enable manufacturing to be undertaken at each site, including at Omega's own site in Scotland.
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Omega Diagnostics is also included in the Vox Covid-19 Crusaders index.