Lumos Diagnostics, a Melbourne, Australia-based rapid point-of-care diagnostics company, closed an AU$25m pre-IPO funding, ahead of an anticipated 2021 Australian Securities Exchange (ASX) listing.
The capital was raised from a combination of institutional funds, including Perennial Value and Ellerston Capital, and other investors, many of whom have backed Lumos through previous capital raises. It follows on from a Series A raise in early 2020, led by Planet Innovation, a Melbourne-based healthcare innovation company.
The funding will enable Lumos to continue to build its rapid diagnostics business in the U.S., including expanding manufacturing operations in California and Florida and continuing commercial growth of its FebriDx® product.
Led by Sam Lanyon, executive chair, and Robert Sambursky, MD, president and chief executive officer, Lumos Diagnostics specializes in complete point-of-care (POC) diagnostic test solutions to help healthcare professionals accurately diagnose and manage medical conditions. The company offers customized assay development and manufacturing services for POC tests and proprietary digital reader platforms. Lumos also directly develops, manufactures and commercializes proprietary, Lumos-branded POC tests that target infectious and inflammatory diseases with unmet diagnostic needs.
The company’s current portfolio of tests includes:
- FebriDx®, an all-in-one, disposable, 10-minute, fingerstick blood test that differentiates viral from bacterial acute respiratory infections (ARI).
- COV-ID™; the Diagnostic Kit (Colloidal Gold) for IgG/IgM Antibody to SARS-CoV-2, a rapid and easy-to-use serology test for the qualitative detection of antibodies to SARS-CoV-2 virus in patients suspected of a history of COVID-19 infection.
Both the FebriDx and COV-ID tests are CE marked for sale in Europe. FebriDx is also registered or licensed with the following other health authorities: Health Canada, Australia TGA, Saudi Arabia FDA, Pakistan DRAP, Singapore HSA, and Malaysia MoH. COV-ID is available in specific global markets in compliance with country requirements.The FebriDx test has not received U.S. FDA clearance and is not commercially available in the United States.