Lumos Diagnostics (ASX: LDX), known for its rapid point-of-care (POC) diagnostics tests, has expanded its partnership with Henry Schein Medical to add Belgium to its distribution list. This agreement makes FebriDx, a rapid test designed to differentiate viral from bacterial infections, accessible to Belgian healthcare professionals.
FebriDx delivers results in 10 minutes from a fingerstick blood sample and can be used in various settings, including primary care, urgent care, and pediatrics. Offering this test aligns with Henry Schein’s commitment to providing innovative healthcare solutions.
After initial setbacks with the FDA in the US, Lumos Diagnostics successfully navigated the regulatory process by re-submitting its application based on new guidance and achieved approval at the end of 2023.
The expansion into Belgium is particularly relevant considering the growing threat of antimicrobial resistance. In a recent study, published in the Journal of Antimicrobial Chemotherapy, the Belgian Federal Public Service (FPS) Health, Food Chain, Safety and Environment, exacerbated that Antimicrobial resistance (AMR) is a pressing global health concern. While researchers did not specify detailed findings for Belgium, the global threat of AMR stays imperative. Studies have shown FebriDx can help reduce unnecessary antibiotic prescribing, a crucial factor in combating this public health challenge.
“We are pleased to continue to partner with Henry Schein in various countries to provide access to FebriDx and help address the global challenge of antimicrobial resistance,” said Doug Ward, CEO of Lumos Diagnostics.
“By providing clinicians with rapid and accurate information about the nature of a patient’s infection, FebriDx can help health care professionals make more informed decisions about antibiotic use, ultimately benefiting both individual patients and public health.”
Henry Schein (NASDAQ: HSIC) is a solutions provider for healthcare professionals. Their network supports over 1 million customers globally with various solutions to improve operational success and clinical outcomes.
“Our team is dedicated to providing innovative, integrated health care products, together with our supplier partners, that customers can rely on,” said Alain Nijsing, General Manager of Henry Schein Medical Netherlands and Belgium.
“By partnering with Lumos to now offer FebriDx in Belgium, we can help health care professionals around the world have access to the tools needed to continue providing quality care.”
On July 4, 2024, LDX announced a partnership with Regional Health Care Group (RHCG), a division of Henry Schein for the distribution of the FebriDx point-of-care test in Australia and New Zealand. This collaboration widened its availability of FebriDx leveraging RHCG’s extensive network in both countries.
For the March 2024 quarter, Lumos Corporation reported revenue of USD $4.0 million, up 135% compared to the prior quarter (Q2 FY24 – USD $1.7 million). This resulted in USD $2.0 million positive operating cash flow for the quarter, contributing to a 9 months year-to-date (YTD) operating cash outflow of USD $2.8 million. Additionally, the company also commenced work under new agreements with Hologic for developing a next-generation fetal fibronectin diagnostic product, expecting milestone payments totaling up to USD $4.7 million over the next 18-24 months.
As of March 31, 2024, the company had USD $3.4 million of cash on hand.
Sidra is a Business Writer with The Sentiment
Latest posts by Sidra Surmed (see all)
- Interest in captioning tech sees jump in earnings for AI-Media - August 29, 2024
- Despite construction industry challenges, Duratec delivers earnings growth - August 28, 2024
- AI-powered road safety solutions pave the way for Acusensus revenue bump - August 27, 2024
Leave a Comment
You must be logged in to post a comment.