AIM-listed Scottish medical diagnostics firm Omega has said its HIV test kit was generating “significant interest” in the global health community.
The firm’s flagship hand-held test analyses the CD4 count in a drop of blood to give an indication whether a patient may have contracted the precursor virus to Aids.
Launch of the test was delayed in September after anomalies were identified in the production process.
However, in an interim update to the markets, Omega said that the CD4 kit continued to spark interest around the world.
The company hopes the test will eventually provide a breakthrough in HIV-care in third world communities, where infection rates are often higher and access to medical care and drug treatments is limited.
Omega said progress had been made in reducing the variability identified within CD4 results, and a preferred manufacturing process for the kit was now being assessed.
The company which has previously said it hoped to have the increased testing programme complete by the end of this year again acknowledged that a contribution from the CD4 test is required in order for the firm to hit its full-year financial targets.
“This protocol will now proceed to a three-batch evaluation with the work to be undertaken at external evaluation sites, and we remain very confident of completing the technology transfer,” the company said.
“Considerable effort has been spent on pre-launch marketing activities, including exhibitions and meetings with key opinion leaders in the global health community, generating significant interest.
“It is this interest which is expected to translate into significant sales.”
The company’s first-half performance saw a slight uplift in revenues to £5.59 million compared with the year earlier.
Adjusted pre-tax profits also climbed from £375,265 in 2012 to £427,263.
Adjusted earnings per share dropped marginally to 0.6p.
Meanwhile, cash held by the company at the period end increased significantly to £3.3m from £0.78m the year before.
Aside from CD4, the company said it was also working towards the commercial launch of its IDS-iSYS panel of allergy tests.
“Trading in the first half of the year is in line with management’s expectation,” executive chairman David Evans said.
“The core business has held up as certain headwinds have been mitigated with growth in other parts of the business.
“We recognise that our ability to make a step change of our future growth is highly predicated on successful outcomes of both our CD4 and IDS-iSYS projects.
“We are at a sufficiently advanced stage with both projects to be very confident that both will deliver significant shareholder value in the next financial year.”