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MDx Firm Lumora Raises $1.1M to Support Technology Commercialization

NEW YORK (GenomeWeb News) – Molecular diagnostics firm Lumora today said it raised £700,000 ($1.1 million) in a follow-on financing as the company plans on further commercializing its technology in the US and Europe.

Current investors Tate & Lyle Ventures, Catapult Ventures Managers, and Cambridge University participated in the financing, which the Cambridge, UK-based firm said will go toward efforts to further commercialize its diagnostic technologies and applications, including the BART (Bioluminescent Assay in Real Time) system. BART is a reporter system for use with isothermal nucleic acid amplification technologies.

"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," Laurence Tisi, CEO of Lumora, said in a statement.

In the spring of 2011, Lumora raised $2.1 million in second-stage funding.