LumiraDx Announces New Investment for Ongoing Development of its Point of Care Molecular Tuberculosis Test

Rhea-AI Summary

LumiraDx Limited (LMDX) has secured $14.2 million in grants from the Bill & Melinda Gates Foundation for the development of a point-of-care molecular tuberculosis (TB) testing system. This initiative aims to provide accurate and affordable testing, especially in low- and middle-income countries, addressing a significant gap in TB diagnosis. The new TB test will utilize a tongue swab, enhancing ease of testing compared to traditional methods. The LumiraDx platform is designed for decentralized healthcare settings, weighing only 1.1kg and featuring a rechargeable battery.

Positive

• Received $14.2 million in grants from the Bill & Melinda Gates Foundation.
• Development of a molecular TB test aimed at increasing access to affordable testing.
• The TB test uses a tongue swab, facilitating easier sample collection from patients.
• The LumiraDx platform is portable and designed for use in decentralized healthcare settings.

Negative

• None.

Company receives $14.2M in grants from the Bill & Melinda Gates Foundation to support the TB test’s ongoing development and future launch into developing countries

LONDON, Dec. 14, 2022 (GLOBE NEWSWIRE) -- LumiraDx Limited (Nasdaq: LMDX), a next-generation point of care diagnostics company, today announced it has received $14.2M in grants from the Bill & Melinda Gates Foundation for ongoing development of its point of care molecular tuberculosis (TB) testing system. Used with the LumiraDx multi-assay Platform, the molecular TB test is being developed to provide highly accurate results at a low price at the point of care enabling clinicians to immediately commence appropriate treatment and patient management to maximize health outcomes and minimize further spread of infection.

According to the World Health Organization’s 2022 Global Tuberculosis Report, the difference in the number of people who were infected with TB and the number of people diagnosed with TB widened in both 2020 and 2021 versus 2019 to over 4 million each year. To address this crisis, a substantial new supply of molecular TB tests is required. However, existing options are limited by price, test run time, electricity requirements as well as a reliance on a sputum sample type, which can be challenging to collect from many patients.

The LumiraDx molecular TB test is designed to fill these gaps and needs in the TB testing market and significantly increase access to testing. With support from the foundation, the testing system is being developed to provide testing at a lower cost and incorporate a tongue swab sample which makes it easier for a higher percentage of patients to be tested. In addition, the portability of the LumiraDx Platform, which weighs only 1.1kg, and uses a rechargeable battery, would allow the TB test to be used in decentralized settings across low and middle-income countries where lab access is limited. The LumiraDx Platform, is the only point of care instrument that supports both molecular and immunoassay technologies.

Ron Zwanziger, LumiraDx CEO commented, “The advancement of our TB molecular test signifies an important step forward in LumiraDx’s mission to increase access to accurate and affordable testing worldwide as well as an important step forward in our molecular testing technology. The support from the Gates Foundation is critical in our development of the TB test and ensuring it reaches communities where access to testing is most challenged. The availability of these immediate results can be game changing.”

The LumiraDx platform is designed to run a variety of sample types and technology with 12 tests currently available. The TB test is the first molecular test the company has developed for the point of care Platform. LumiraDx has already initiated testing of the TB molecular test in pre-clinical studies in Africa.

About LumiraDx
LumiraDx Limited (Nasdaq: LMDX) is a next-generation point of care diagnostics company that is transforming community-based healthcare. Its actively controlled microfluidic technology provides fast, high performance and accessible diagnostic solutions wherever the patient is for nearly any testing scenario, creating unique testing options at the point of need.

The company offers a broad menu of lab comparable tests on a single portable Platform, with more than 30 assays on the market and in the pipeline, covering infectious diseases, cardiovascular diseases, diabetes, and coagulation disorders. The company also supports high-complexity laboratory testing in an accessible high-throughput format to leverage current molecular laboratory operations.

Founded in 2014 and based in the UK, LumiraDx's diagnostic testing solutions are being deployed globally by governments and leading healthcare institutions across laboratories, urgent care, physician offices, pharmacies, schools, and workplaces to help screen, diagnose, and monitor wellness as well as disease.
More information on LumiraDx is available at www.lumiradx.com. 

Media Contact: 
Colleen.McMillen@lumiradx.com

FAQ

What is the purpose of the $14.2 million grant received by LumiraDx?

The grant is aimed at supporting the ongoing development of a point-of-care molecular tuberculosis (TB) testing system.

How will LumiraDx's TB test improve patient access?

The TB test will provide accurate results at a lower cost and use a tongue swab sample, making testing easier for patients.

What is the significance of LumiraDx's molecular TB test?

It addresses the critical need for improved TB diagnostic tools in low- and middle-income countries, where lab access is limited.

When did LumiraDx announce the grant funding?

LumiraDx announced the grant funding on December 14, 2022.

Which organization provided the grant to LumiraDx?

The grant was provided by the Bill & Melinda Gates Foundation.