On October 10, 2024 The European Investment Bank (EIB) and LUMICKS reported to have signed a €20 million venture debt agreement to accelerate the launch of its next generation, high throughput cell avidity platform (Press release, LUMICKS, OCT 10, 2024, View Source;utm_medium=rss&utm_campaign=dutch-life-science-tools-lumicks-secures-e20-million-from-european-investment-bank-to-accelerate-drug-discovery-for-cancer [SID1234647139]). The financing is supported by the European Commission under the InvestEU initiative.
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LUMICKS’ Cell Avidity technology is transforming the discovery process in cancer immunotherapy by addressing a critical challenge: the lack of tools to directly measure the binding interaction of immune cells, such as CAR-T cells, with cancer cells. This limitation creates uncertainties in the preclinical funnel and slows therapy development. By providing high-throughput measurement of such interactions, LUMICKS’ empowers researchers to optimize therapies faster and with greater accuracy, with the goal of improving success rates in clinical trials.
"The Netherlands is home to a vibrant Life Sciences industry and the EIB has been proudly supporting this sector to ensure it continues to lead in medical innovation and transformative healthcare solutions." stated EIB vice president Robert de Groot. "The new financing to LUMICKS is a testament of this. With the backing of InvestEU, the EIB can provide LUMICKS with stable long-term funding matching the highly innovative profile of the Company and tailored to its current needs for continued growth, market expansion, and development of its technologies."
"This investment from the EIB enables us to accelerate our R&D timeline, ensuring we continue innovating to deliver a long-lasting impact in the immunotherapy space" stated LUMICKS CEO Hugo de Wit. "By providing deeper insights into cellular interactions, our instruments empower researchers to make faster, better-informed decisions, with the goal of improving success rates in clinical trials and accelerating the development of effective therapies."
LUMICKS, founded in 2014, employs 170 people globally and has a proven track record of developing and commercializing cutting-edge life science tools. Widely adopted by top universities and research institutions worldwide, LUMICKS’ technologies have contributed to numerous publications in top journals across fields such as oncology and immunotherapy.