Lumora completes follow on fundraising

Company raises £700,000 to accelerate commercial development

 

Cambridge, UK, 18th March 2013 ... Lumora, a provider of state-of-the-art molecular diagnostic products for the clinical and industrial market, has completed a follow on fund raising as it looks to progress its molecular diagnostics applications in the US and Europe.

Lumora has raised £700,000 from current investors including Tate & Lyle Ventures, Catapult Ventures Managers and Cambridge University. The funding will be used to further commercialise Lumora’s molecular diagnostic technologies and applications including the BART system (Bioluminescent Assay in Real Time), along with Lumora’s other proprietary technologies.

Laurence Tisi, CEO of Lumora said: “This funding is excellent news and demonstrates the support that the business has from its investors and shareholders, particularly in this challenging economic climate. During this quarter we have made significant progress with a number of commercial deals and the funding will allow us to further develop new products, take advantage of new opportunities, and accelerate existing commercial agreements.”

David Atkinson, Managing Partner, Tate & Lyle Ventures stated: “We are delighted to continue to support Lumora given the technical milestones it has achieved and look forward to further commercial success in the coming months.”

The fundraising builds on a busy start to 2013 for Lumora, with the appointments of Jim Reid as Chairman and Hayden Jeffreys as Commercial Director. At the same time, the company is developing a number of significant commercial deals in the clinical, industrial and veterinary sectors.

Hayden Jeffreys, Commercial Director at Lumora, added: “We are pleased with the strong commercial progress we are making and expect a number of important announcements over the coming months. As well as announcing the first of our clinical development agreements from our pipeline, we also expect to announce our next industrial licensing deal in the veterinary field.”

For further information please contact:
Tony Stephenson, Director
Exitus Communications
Tel: +44 (0)7899 796655
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Notes to Editors:
Lumora is a successful provider of state-of-the-art molecular diagnostic products into both the clinical and non clinical or industrial markets. Lumora’s easy to deploy and use technology can be employed in fields as diverse as food safety testing, and medical diagnostics. The Company is very
active in licensing its technology and development partners include international biotechnology, clinical diagnostic and industrial microbiology companies.

Lumora’s corporate office is based just outside of Cambridge, England. The Company's investors include; Cambridge Enterprise (University of Cambridge), Tate & Lyle Ventures LP, and Catapult Venture Managers Ltd.

www.lumora.co.uk