Lumos Diagnostics, a provider of rapid point-of-care diagnostic solutions, has recently announced the closing of a U.S. $15 million Series A funding from Planet Innovation. The funding was created to support FebriDx® rapid POC (point-of-care) test for international commercial expansion and the FDA’s pivotal clinical trial. It will also provide additional manufacturing and development resources to serve Lumos’s increasing full-service POC business.
FebriDx, a rapid POC test, identifies patients with significant clinical infections and helps assess the body’s immune response to ARI (acute respiratory infection) within 10 minutes. Under this test, a fingerstick blood sample is collected from the infected patients to test the presence of MxA (Myxovirus resistance protein A) and CRP (C-reactive protein) as well as to differentiate viral and bacterial ARIs. This test limits the amount of unnecessary antibiotic prescriptions offered to outpatient ARIs.
MxA is a highly specific inflammatory protein that elevates during acute viral infection, while CRP elevates during clinically significant infection.
Lumos, a Planet Innovation spin-out, has been striving to gain global perspective by forming strategic merger and acquisition activities with various companies. For instance, in 2019, the company formed a merger with RPS Diagnostics to create a diverse healthcare company by bringing together FebriDx test and commercial experience with a proprietary and novel digital reader platform.
According to Sam Lanyon, Lumos’s chairman of the board as well as Planet Innovation’s co-CEO, this alliance with Lumos is a mutually beneficial step, taking into consideration Planet Innovation’s long-term focus on creating game-changing innovation through various investments and technologies in the healthcare market. He further stated that the company will extend the support necessary for Lumos to accelerate its growth process.
Lumos’s MD, president, and CEO, Robert Sambursky, also commented on the various benefits of adopting FebriDx test, stating that it improves workflow, saves time, as well as reduces the overall clinical costs. He also stated that Lumos’s novel digital reader technology will be used in the next-gen digital FebriDx test, which will be able to save time to results, identify rare co-infection and improve result interpretation objectivity.