News: EIC-funded company LUMICKS raised a new funding round of $93 million
LUMICKS, an EIC-funded company from the Netherlands, has completed a round of investment led by Farallon Capital Management and Lauxera Capital Partners, including other high-level investors. The funding will be used to expand the R&D actions and the commercialisation of LUMICKS’ z-Movi Cell Avidity Analyser.
In 2017, the z-Movi innovation developed by LUMICKS received funding from the European Innovation Council (EIC) to make the step from an academic towards a more commercial environment. This year, the company got extra financial support with a Series D funding led by Farallon Capital Management and Lauxera Capital Partners. The $93 million from this round of investment will be crucial to further research and establish their device for cancer therapies.
The Dutch SME focuses on health-improving research and it is developing z-Movi, the first platform with the capacity to screen and sort immune cells based on their functionality. With this research novelty, it is possible to develop new and more effective immunotherapies in cancer treatments. A first version of the product already entered the health market with success. Now, LUMICKS aims to increase its market presence, hoping to expand its technology to other pharmaceutical applications.
“We are ecstatic to receive an investment from such an impressive group of investors that is excited to support us for our next phase of growth,” stated Olivier Heyning, CEO of LUMICKS. “The new investors are a wonderful complement to our existing investor base and bring an outstanding amount of industry knowledge that we believe will result in an incredibly positive partnership. With this fundraising, we believe LUMICKS is well-positioned to drive significant growth of our Dynamic Single-Molecule platform and further accelerate the commercial adoption of the industry-changing z-Movi solution.”
The life science tools company develops equipment for Dynamic Single-Molecule and Cell Avidity analysis, two rapidly emerging areas in biology research and immuno-oncology. Built upon innovative technologies, such as optical tweezers (Nobel Prize for Physics 2018) and STED super-resolution (Nobel Prize for Chemistry 2014), LUMICKS tools facilitate understanding life in the smallest detail. The company was founded in 2014 as an academic spin-off from the research group of Prof. Gijs Wuite, Prof. Erwin Peterman, and Prof. Iddo Heller at the Vrije Universiteit Amsterdam. For more information, visit the company’s website at www.lumicks.com.