Lumos Diagnostics extends BDI agreement to address clinical needs

Lumos Diagnostics Ltd (ASX:LDX, OTC:LDXHF) chief technology officer Sacha Dopheide joins Proactive’s Tylah Tully to discuss an extended agreement with Burnet Diagnostics Initiative (BDI) to further develop and manufacture a liver function test based on Alanine Transaminase (ALT) levels. The BDI agreement includes the production of ALT lateral flow tests, customised Lumos readers and a mobile application for use in an upcoming US clinical trial. The partnership, which began with a feasibility project in July 2023, aims to address critical clinical needs through rapid point-of-care testing. The new phase of the collaboration is set to begin in August 2024 and will focus on the production of a point-of-care ALT testing system, specifically designed to monitor liver function in high-risk patients. The ALT test is expected to provide rapid results, enabling quicker detection of acute liver toxicity, potentially caused by drug reactions. Lumos will offer development, regulatory and manufacturing services over the next 9-12 months, with projected revenues between US$700,000 and US$1 million. If successful, Lumos may continue to support BDI in further development stages, including additional trials and regulatory submissions. The partnership underlines Lumos’ commitment to advancing point-of-care diagnostics and improving patient outcomes. Partnerships and agreements form a large part of the company’s revenue stream helping it leverage its other client offerings. #Proactiveinvestors #LumosDiagnostics #ASX #HealthcareInnovation, #FDAApproval, #PointOfCare, #MedicalDiagnostics, #WomensHealth, #Hologic, #FebriDx, #ViraDx, #FluSeason, #GlobalHealthcare, #MedicalDevices, #HealthcareSolutions, #RevenueGrowth, #StrategicPartnerships, #Diagnostics, #Biotech, #HealthcareTechnology, #FinancialResults, #MedTech #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews