Life sciences company Omega Diagnostics has received £1.8 million from Scottish Enterprise to help boost its workforce and ramp up its range of allergy testing products.
The firm said the research and development grant will be used to accelerate the growth of its “menu” of allergens from 41 to 120 over the next three years “to cope with anticipated increasing demand”.
It will also recruit 14 extra members of staff at its base in Alva, where it currently employs about 50 people.
According to the World Allergy Organisation, up to 40 per cent of the world’s population is affected by one or more allergic diseases, the severity and complexity of which is growing amid rising temperatures, air pollution, changing socio-economic factors and migration.
As a result, the allergy diagnostic market is forecast to grow at a compound annual rate of 12.67 per cent by 2019.
Omega chief executive Andrew Shepherd said: “We are delighted with this level of commitment from Scottish Enterprise, which has supported the company over a number of years. Teams from both organisations worked hard to deliver an outcome that will support economic growth in Scotland, as well as providing new products with global export potential.”
Jim Watson, director of innovation and enterprise services at Scottish Enterprise, added: “This R&D grant, together with the company’s investment in its Alva site, means Omega can expand its current product range to target new export markets in an accelerated timeframe, giving Omega excellent competitive advantage.
“As Scotland’s innovation agency, we support innovative companies like Omega to achieve their global growth ambitions quickly. It’s also fantastic to see this grant helping Omega to recruit 14 new skilled staff at its Alva facility over the next three years.”
Part of the funding has also been earmarked by Aim-quoted Omega to set up a global health scientific team to examine future product opportunities.