Point of care test developer and manufacturer Lumos Diagnostics will begin trading on the ASX at 1230 AEDT today, following a $63 million IPO.
“The funds raised via the IPO will facilitate the continued expansion and commercialisation of our suite 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 CEO Rob Sambursky, MD.
According to a statement from the company, top-tier institutional funds participated strongly in the offer, as did existing investors such as Australian Unity Future of Healthcare Fund, Perennial, Soul Pattinson and Ellerston.
Lumos is headquartered in Melbourne and was founded by healthcare engineering and commercialisation company Planet Innovation in 2015. It expanded into the US in 2019 after a merger with Rapid Pathogen Screening.
Its lead products are FebriDx — a finger prick test discriminating between bacterial and viral respiratory infections and with regulatory approval in Europe, Canada and Australia — and CoviDxTM, an antigen test for COVID-19.
Picture: Planet Innovation
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