Lumos completes $20m placement and launches SPP

• Placement of A$20.0 million (US$14.0 million) completed with strong institutional demand
• Share Purchase Plan (SPP) to raise approximately A$2.0 million (US$1.4 million) for eligible shareholders
• Proceeds to support US commercialization of FebriDx® after FDA clearance

Lumos Diagnostics Holdings Limited (ASX: LDX) has announced that it has received firm commitments for a A$20.0 million (US$14.0 million) institutional placement. The placement was strongly supported by existing and new institutional investors. In addition, the company has received confirmation that existing shareholders Tenmile and Ryder Capital will exercise at least a combined 43.9 million options, providing further funding of A$3.1 million (US$2.2 million). The company has also launched a Share Purchase Plan (SPP) to raise approximately A$2.0 million (US$1.4 million) to provide eligible shareholders an opportunity to participate. The proceeds from the placement and SPP will be used to support the US commercialization of FebriDx® after the product receives 510(k) clearance and a CLIA waiver from the US FDA. The funds will also be used to expand manufacturing capacity, sales, marketing, and medical implementation support for the US point-of-care market. The company believes these funds will accelerate its ability to unlock a US$1.0+ billion market opportunity, representing a 15x market expansion for FebriDx®.

The company is confident that with the funds from the placement, SPP, and option exercises, it can execute on the growth plans outlined for FebriDx® in the US.