LumiraDx secures $14.2m from the Bill & Melinda Gates Foundation to advance tuberculosis testing
The grant funding will support the development and launch of a molecular tuberculosis testing system for developing countries.
≈ £11.7M at $1 = £0.8235 on 16 Dec 2022
LumiraDx develops point-of-care diagnostic testing platforms and assay menus for various healthcare applications.
LumiraDx has secured $14.2m in grant funding from the Bill & Melinda Gates Foundation to advance its point-of-care molecular tuberculosis testing system. The capital will support the ongoing development of the test and its planned deployment in developing countries, where access to diagnostics is limited. Pre-clinical studies for the molecular TB test are already underway in Africa.
The financing arrives as global tuberculosis infections and drug-resistant cases show increases, creating a distinct need for rapid molecular diagnostics. The company intends for its test to provide rapid results directly at the point of care, allowing clinicians to begin treatment promptly and reduce further transmission.
Founded in 2014, LumiraDx offers a portable platform supporting numerous assays across infectious diseases, cardiovascular conditions, and other areas. The system is designed to deliver laboratory-comparable results in diverse community healthcare settings.
From the founder
"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."
Ron Zwanziger
CEO at LumiraDx
Use of funds
- 01Continue product development
- 02Expand into international markets