Lumos Diagnostics achieves key milestone in development agreement

Lumos Diagnostics (ASX:LDX) has successfully completed the first milestone under Phase 2 of its Development Agreement with Hologic, Inc. The agreement aims to develop a new fetal fibronectin (fFN) test, with a focus on Assay Feasibility. The achievement of this milestone will result in a US$0.3 million award to Lumos, with additional milestones included within this section of the agreement, totaling the Phase 2 program at US$0.6 million.

Executive Commentary on Phase 2 Milestone Achievement

We are proud to receive this milestone payment, which demonstrates the strong progress the Lumos and Hologic are making in developing a new fetal fibronectin (fFN) test. We're excited by the results of the work program to date and are pressing ahead with the remainder of the scoped work under Phase 2 of the agreement.

Summary of Lumos Diagnostics' Achievement and Outlook

Lumos Diagnostics has achieved a significant milestone in its Development Agreement with Hologic, Inc. The successful completion of the first milestone under Phase 2, focused on Assay Feasibility, highlights the progress in developing a new fetal fibronectin (fFN) test. With a US$0.3 million award and additional milestones valued at US$0.6 million, Lumos is poised to continue its work on this innovative project. The fFN test targets a substantial market in the United States, and Lumos aims to keep the market updated as they progress through the remaining milestones under the Development Agreement.