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lumiraDx

Portfolio Asset

Name lumiraDx
Type Operating Company

Description

LumiraDx is a molecular diagnostics company offering point-of-care testing instruments for the detection of biochemistry, immunoassay, coagulation, molecular, and other assays. The company has proprietary point-of-care technology platform to deliver laboratory quality test results in approximately ten minutes and at a significantly lower cost than traditional tests.

LumiraDX has a top-tier management team with deep experience in novel diagnostics and successful exits.

During 2018 the company raised $270 million in equity capital at a $600 million pre-money valuation from strategic investors including the Bill & Melinda Gates Foundation (“Gates Foundation”), CVS Health, Thermo Fisher Scientific, Danaher Corporation, and Morningside Venture Investments (“Morningside”). Representatives from the Gates Foundation and Morningside have joined the board of directors. The soft launch of the INR test in Europe was a success and full-scale launch is now underway. We expect an additional 1-2 tests in the European market by year-end.