LUMICKS Raises $93 Million for Business Expansion

By McKenzie Carpenter Friday, April 16, 2021

Today, LUMICKS, a life sciences tools company for cancer treatment and immunotherapies, announced the business raised $93 million to ramp up growth and expansion.

3D rendering of DNA strand and cancer cell.

About the Business

LUMICKS is a Dutch life sciences tools company that specializes in developing equipment for Dynamic-Single Molecule (DSM) and Cell Avidity analysis, sectors of biology and immuno-oncology (i.e., using one’s immunity to fight cancer and other immune illnesses). LUMICKS’s adoption of DSM in molecular research is a particular focus for the business as it hopes to establish its analytical methods as the standard in molecular biology and immunotherapy.

Essentially, DSM analysis allows researchers to gather crucial information that is complementary to protein structure and ensemble average (similar biological quantities as in a normal cell) kinetics to develop cancer treatments and other immunotherapies. Based upon Nobel Prize-winning technologies, the business developed tools such as high-resolution microscopy optical tweezers, C-Trap and m-Trap, and a laminar flow microfluidics system, u-Flux.

Cell Avidity studies cell to cell interactions and provides a more complete picture of these interactions between effector and cancer cells as a means to better predict cellular responses and outcomes during immunotherapy treatments. The company developed a Cell Avidity Analyzer, z-Movi, to measure the avidity between immune cells and their targets as a way to identify the most immunotherapeutic effector cells.

In addition to developing innovative technologies, the business also places a special interest on the environment. The company designs all of its products for low energy consumption and claims the employees all fly CO2 neutral.

New Financing for LUMICKS

LUMICKS announced in a press release the business raised $93 million in a Series D preferred share financing round led by new investors, Farallon Capital Management and Lauxera Capital Partners. SoftBank Vision Fund 2 also participated with accounts advised by T. Rowe Price Associates, Parian Global Management, Pura Vida Investments, and Irving Investors.

Olivier Heyning, CEO of the company, said in a statement, “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...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 company plans to use a majority of the new capital for growth initiatives such as developing cancer treatment and other therapies through R&D, business expansion, and commercial activities for z-Movi.

Alex Slack, Co-Founder of Lauxera Capital Partners, said in a statement, “We believe LUMICKS’ z-Movi Cell Avidity Analyzer for direct, high-resolution measurement of cell avidity is a revolutionary platform that can accelerate translational R&D across institutions and biopharma...The z-Movi solution has the potential to drive remarkable advances in cancer treatment. It builds on LUMICKS’ rapid innovation, anchored by its Dynamic Single-Molecule franchise that is expanding access to and use cases for single molecule force measurement.”

In 2019, the global life sciences tools market was valued at $49.82 billion. This market is projected to reach over $95.68 billion by 2027 with a CAGR of 8.5% from 2020 to 2027.

About the Author

Headshot of McKenzie Carpenter

McKenzie Carpenter is a graduate of Central Michigan University with a B.A.A. in Integrative Public Relations and French. McKenzie has previously worked for small businesses and nonprofit organizations.

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