LDX Discussion, page-293

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The Binx IO deal with Lumos Diagnostics centers around a collaboration aimed at combining Lumos' diagnostic manufacturing capabilities with Binx Health's rapid point-of-care (POC) testing platform, the Binx IO system. This partnership plays a crucial role in expanding Binx’s ability to deliver rapid and reliable diagnostic tests for sexually transmitted infections (STIs), particularly in clinical settings such as pharmacies and sexual health clinics.

Key Elements of the Binx IO Deal:

1. Manufacturing and Development: Lumos Diagnostics is responsible for manufacturing and product development of Binx IO cartridges, leveraging its proprietary diagnostic expertise. The Binx IO system itself offers rapid testing, delivering lab-quality results within about 30 minutes for STIs like chlamydia and gonorrhea. Lumos provides its established infrastructure and resources for large-scale production of these diagnostic cartridges(

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   )(
   Welcome to Lumos Diagnostics
   ).

   
   

2. Technology Integration: The Binx IO system combines molecular diagnostic technology (PCR-based) with a compact, easy-to-use point-of-care platform. Lumos aids in further developing the manufacturing processes for these complex tests. This includes assay validation, optimization, and ultimately, large-scale production to meet growing demand(

   Welcome to Lumos Diagnostics
   ).

   
   

3. Revenue Generation: Lumos plans to generate ongoing revenues from this deal in several ways:

   • Manufacturing Revenue: Lumos earns revenue by manufacturing the test cartridges for Binx Health. The more units produced and sold, the more Lumos benefits financially.
   • Licensing and Service Fees: In addition to manufacturing, Lumos may earn licensing fees from Binx for the use of its diagnostic platforms. Furthermore, as new tests are added to the Binx IO platform, Lumos will likely continue to provide validation and development services, creating additional service revenue streams.
   • Long-term Partnerships and Market Expansion: With the Binx IO platform expanding its reach globally, the potential market for Binx's tests—particularly in the U.S., where rapid STI testing is in demand—offers significant ongoing revenue opportunities for Lumos through their continued manufacturing role(
     * UK
     )(
     Welcome to Lumos Diagnostics
     ).
   
   

Overall, the deal allows Lumos Diagnostics to capitalize on the growing need for rapid, accurate diagnostic solutions in sexual health, while Binx Health benefits from Lumos' production and technological capabilities. This symbiotic relationship aims to support continuous revenue growth as demand for Binx IO’s testing platform increases globally.