Sydney medical device manufacturer Atomo Diagnostics is asking fund managers for $4 million in new equity on the back of positive regulatory news out of the United States from its commercial partner ASX-listed Lumos Diagnostics.
As The Australian Financial Review reported, Lumos had been waiting on a CLIA waiver decision from the Food and Drug Administration for its FebriDx test. The waiver would allow the product to be used in urgent care clinics and primary care practices, unlocking access to a $US1 billion ($1.45 billion) frontline American healthcare market.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com