Catapult concludes Lumora deal
Catapult Venture Managers, which has an office in Leicester, has led a £1.5m funding round into molecular diagnostic company Lumora.
The fund has invested more than £1m from its capital growth fund into the businesses, with the remainder of the cash coming from Cambridge-based Lumora's major shareholder, Tate and Lyle Ventures.
Catapult said the capital injection would be used to accelerate Lumora’s entry into the clinical molecular diagnostic market. The company’s development programmes focus on applications including an integrated testing station for gastrointestinal (GI) infections and an HIV viral load monitoring system to support drug therapy in the developing world.
Ed Wass, Catapult investment director, said: "We are delighted to have the opportunity to work with Lumora’s excellent management team, led by chief executive Laurence Tisi. We have also introduced a non-executive director to the Board – Jim Reid – who has a strong track record in the molecular diagnostic sector and who has worked previously for several major companies in the space, including Roche and Chiron, as well as being a successful entrepreneur in his own right."
"An exciting application for Lumora’s technology is provision of a low cost solution for HIV testing in less developed regions, such as Africa, where there is generally less access to the current higher cost, more sophisticated laboratory alternatives."
Catapult has offices in Birmingham and Leicester.
