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Lumos Diagnostics Raises $46.9M in Australian IPO

NEW YORK — Lumos Diagnostics said on Thursday that it has raised A$63 million ($46.9 million) through an initial public offering on the Australian Securities Exchange.

According to the Melbourne-based point-of-care diagnostics maker, proceeds of the IPO will be used to expand its infrastructure, for sales and marketing, and to invest in product and technology development. The money will also be used to grow Lumos' regulatory, clinical, and quality team, for working capital, and to cover costs of the offering.

Lumos' lead products include FebriDx, a single-use test designed to assess levels of two protein biomarkers in fingerstick blood samples to determine if a patient has an acute respiratory infection and if that infection is bacterial or viral. The test is cleared in Europe, Canada, and Australia and is under review by the US Food and Drug Administration.

The company, which was founded in 2015, also markets CoviDx, a CE-marked SARS-CoV-2 antigen test.

In October, Lumos raised A$25 million through a private financing.