Lumos Diagnostics Raises AU $ 63 Million in ASX IPO


SARASOTA, Florida – (COMMERCIAL THREAD) – Rapid point-of-service (POC) diagnostics firm Lumos Diagnostics today announced its admission to the Australian Securities Exchange (ASX) with trading starting July 5 after raising $ 63 million Australians in an initial public offering (IPO). Lumos is a fully integrated developer and manufacturer of custom POC diagnostic tests, with headquarters in Melbourne, Australia and R&D in the United States, business operations and manufacturing in Florida and California.

The IPO received strong participation from leading institutional funds as well as additional support from existing investors including Australian Unity, Perennial, Soul Pattinson and Ellerston.

“Lumos Diagnostics has established a solid foundation for growth since the inception of the company. Additional funding will facilitate the continued expansion and commercialization of our line of rapid diagnostic products that have the potential to transform point-of-care diagnostics for the benefit of clinicians, patients and the health system as a whole, ”said Lumos Diagnostics CEO Rob Sambursky, MD.

Lumos was founded in 2015 by Planet Innovation, one of Australia’s leading healthcare technology and commercialization companies, and expanded in 2019 when it merged with Florida-based Rapid Pathogen Screening.

The company’s flagship brand diagnostic products are FebriDx®, a finger test that assists in the clinical identification of patients with bacterial and viral respiratory infections, which has received regulatory approval in Europe, Canada and Australia and is under review by the US FDA -United, and CoviDx â„¢, a CE marked COVID-19 antigen test.

Lumos has a pipeline of complementary diagnostics that will take advantage of distribution channels similar to those of its existing commercially available tests, subject to successful development and obtaining the necessary regulatory approvals. Additionally, it is expected that these tests will take advantage of Lumos’ proprietary family of readers, potentially providing a path to future home testing solutions.

Funds raised under the offering will be used to support Lumos’ growth strategy and future business opportunities. This includes expanding infrastructure and capacity; Sales and Marketing; pipeline and technology development; expansion of the regulatory, clinical and quality team; working capital; and to cover the costs of the offer.

About Lumos Diagnostics

Lumos Diagnostics specializes in providing rapid, cost-effective and comprehensive point-of-service diagnostic (POC) testing solutions to help healthcare professionals more accurately diagnose and manage medical conditions. Lumos offers custom test development and manufacturing services for POC testing and proprietary digital reader platforms. Lumos also develops, manufactures and directly markets new Lumos-branded POC tests that target infectious and inflammatory diseases.

For more information on Lumos Diagnostics, visit lumosdiagnostics.com, and for more information on FebriDx®, visit febridx.com.

Forward-looking statements

This announcement contains forward-looking statements, including references to forecasts. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of Lumos and speak only as of the date of this announcement. . Readers are cautioned not to place undue reliance on forward-looking statements.

Important Notices

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or in any other jurisdiction. All of the securities described in this announcement have not been and will not be registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempted or not subject to the registration under the US Securities Act and applicable US state securities laws.


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