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- Lumos Diagnostics (LDX) signs three new agreements to secure US$5.9 million (A$8.89 million) in funding
- The company entered a sale and leaseback agreement with US-based women’s healthcare company Hologic, which will purchase some of Lumos’ capital equipment in return for US$4.2 million (A$6.3 million)
- Additionally, Hologic signed two further agreements worth up to US$1.7 million to undertake additional work on existing projects
- These contracts follow the three service agreements between Hologic and Lumos signed during the first half of FY2023
- Lumos Diagnostics shares are trading at 3.1 cents at 1:40 pm AEDT
Lumos Diagnostics (LDX) has signed three new agreements to secure US$5.9 million (A$8.89 million) in funding.
The company has entered a sale and leaseback agreement with US-based women’s healthcare company Hologic, which has agreed to provide the non-dilutive funding.
The first agreement is for some of Lumos’ capital equipment that will provide Lumos with US$4.2 million (A$6.3 million).
The equipment, which is primarily for the development and manufacture of point-of-care diagnostic tests, will continue to be available and used by Lumos at its site in Carlsbad, California through a long-term lease arrangement with Hologic.
On top of the sale and leaseback agreement, Hologic signed two agreements worth up to $1.7 million to undertake additional work on existing projects.
These contracts follow the three service agreements between Hologic and Lumos that were signed during the first half of FY2023.
“We are extremely grateful and appreciative of the ongoing support that Hologic has provided for Lumos through these agreements,” Lumos CEO Doug Ward said.
“In addition to providing the company with additional, non-dilutive funding that does not impact on our operational capacity, they further strengthen our strategic relationship with Hologic.”
Lumos Diagnostics shares were trading at 3.1 cents at 1:40 pm AEDT.
