LumiraDx's Point of Care Diagnostics Group Continues Commercial Expansion Announcing a Distribution Agreement with Axonlab for its LumiraDx Platform and Tests
- Partnership between LumiraDx and Axonlab will allow Axonlab to sell the unique LumiraDx Point of Care testing solution and give LumiraDx the ability to expand the reach of the LumiraDx Platform and tests.
- The agreement combines Axonlab's strong, direct and established commercial network with LumiraDx´s state-of-the-art rapid diagnostic system, allowing a wider range of customers and patients to benefit from the capabilities of the product.
- The LumiraDx Platform already allows high sensitivity testing of NT-proBNP, HbA1c, CRP, D-Dimer, INR, Flu A/B, RSV and SARS-CoV-2 while further tests including molecular assays and a high-sensitivity Troponin I test are in final stages of development.
LONDON, July 31, 2023 (GLOBE NEWSWIRE) -- LumiraDx Limited (NASDAQ:LMDX), a next-generation point of care diagnostics company, today announced that it signed a commercial distribution agreement with Axon Lab AG ("Axonlab") for the commercialization of its LumiraDx Platform and diagnostic tests to include exclusive distribution rights in Switzerland and additional non-exclusive distribution rights in further European countries to include and starting in Germany. Under the terms of the distribution agreement, LumiraDx has granted Axonlab the right to promote, market, and sell the LumiraDx Platform and tests to hospitals, doctors, clinics, private laboratories and research institutions in the aforementioned countries. The distribution agreement is effective immediately. LumiraDx will continue its direct sales programs in its many active markets across the globe.
Axonlab has dedicated diagnostics franchises and direct offices in the countries covered under the distribution agreement and is well positioned to accelerate the commercial success of the LumiraDx Platform in Switzerland and Germany.
"We are excited to partner with LumiraDx for the commercial distribution of the LumiraDx Platform in Switzerland and Germany," said Lukas Hadorn CEO of Axonlab. "LumiraDx clearly has shown to have a unique technology with a broad, attractive menu of diagnostic rapid tests, on an intuitive and simple to use instrument, which allows these key tests to be performed in doctors' offices, clinics, and other testing sites at the point-of-care. The LumiraDx Platform matches well into Axonlab's broad portfolio of point-of-care diagnostic solutions. In addition to offering a diversified portfolio, Axonlab places great emphasis on partnership-based customer relationships. We respond individually to the needs of our customers and always strive to implement segment specific solutions that suit best for all parties involved."
David Walton, LumiraDx's Chief Commercial Officer commented "We are pleased to announce our new partnership with Axonlab, whose track record has shown that they are a fantastic partner for us in these markets. With the new distribution agreement for Switzerland and Germany, the Axonlab collaboration adds two important markets to our distribution portfolio and will allow us to accelerate the commercial roll-out of our unique LumiraDx Platform. LumiraDx already has a strong commercial presence, either directly or through our distribution partners, and we plan to continue expanding this worldwide network through the addition of such major commercial partnerships."
About LumiraDx
LumiraDx Limited (NASDAQ:LMDX) is a next-generation point of care diagnostics company that is transforming community-based healthcare. Its actively controlled microfluidic technology provides fast, high performance and accessible diagnostic solutions wherever the patient is for nearly any testing scenario, creating unique testing options at the point of need. The company offers a broad menu of lab comparable tests on a single portable Platform, with more than 30 assays on the market and in various stages of development, covering infectious diseases, cardiovascular diseases, diabetes, and coagulation disorders. The company also supports high-complexity laboratory testing in an accessible high-throughput format to leverage current molecular laboratory operations. Founded in 2014 and based in the UK, LumiraDx's diagnostic testing solutions are being deployed globally by governments and leading healthcare institutions across laboratories, urgent care, physician offices, pharmacies, schools, and workplaces to help screen, diagnose, and monitor wellness as well as disease. More information on LumiraDx is available at www.lumiradx.com.
About Axonlab
Axonlab is a proactive and reliable partner of hospitals, medical practices, private laboratories, research and industry, as well as of private individuals. It is a cutting-edge, customer-oriented service company operating in the fields of IVD, Life Science and Medical IT for the healthcare sector and is a leading company in the point-of-care solution business in Europe. The company collaborates with reputable international supply partners in selling innovative systems to clinics, doctors and the research sector. Axonlab is focused on providing a comprehensive, future-oriented service and to provide a foundation for long-term business relations. Axonlab's purpose to contribute to improving healthcare for the people in Europe and to consequently contribute to patients' quality of life is firmly anchored in the DNA of the company. Having been engaged with customers for more than 33 years is why they know and understand their customer's requirements thoroughly.
Visit www.axonlab.com for more information.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding the performance and benefits of the LumiraDx Instrument and tests, the expected benefits of the distribution agreement with Axonlab, and the timing of commercial launch and shipments of certain products. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements, including, among others, general economic, political and business conditions; changes in interest rates, inflation rates and global and domestic market conditions; the effect of COVID on our business and financial results; obtaining or maintaining regulatory approval, authorization or clearance for our tests; and those factors discussed under the header "Risk Factors" in our Annual Report on Form 20-F for the year ended December 31, 2022, which was filed with the Securities and Exchange Commission, or SEC, on May 1, 2023, and in other filings that we make with the SEC. Although LumiraDx believes that it has a reasonable basis for each forward-looking statement contained in this press release, LumiraDx cautions you that these statements are based on a combination of facts and factors currently known by it and its projections of the future, about which it cannot be certain. LumiraDx undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise.
*Not all tests are available in all countries and regions. For additional detail on product availability please visit www.lumiradx.com
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