24 May 2011 – distribution agreement
The medical diagnostics company has announced that its subsidiary Cambridge Nutritional Sciences Limited has signed a ten year exclusive distribution agreement with Toyota Tsusho America Inc., covering the future sale and distribution of Food Detective into the US. The product will first need to undergo a regulatory approval process with the US Food and Drug Administration. Omega’s partner will fund the costs involved in obtaining relevant clinical data and information required for an intended submission under the US FDA 510(k) clearance procedure. This is expected to take between one and two years, which means that we retain our rating of LONG TERM BUY.