British Business Bank partner Catapult Ventures announces the acquisition of Lumora by ERBA Diagnostics Mannheim
Catapult Ventures today announced the acquisition of portfolio company Lumora by ERBA Diagnostics Mannheim.
Catapult first invested in Lumora, a molecular diagnostics company, in 2011. The initial investment assisted the company progress its existing non-clinical licence programme and also to develop the platform for clinical applications. Catapult’s continued support aided the business through commercial launch and subsequent clinical licence deals.
Recently Lumora also announced that it had signed a definitive Asset Purchase Agreement for Roche Diagnostics, the world’s leading diagnostics company, to acquire its proprietary nucleic acid Heat Elution purification technology.
These recent commercial transactions deliver an excellent return for the Catapult Growth Fund with an anticipated 5 times cash return.
Ed Wass, who led the transaction for Catapult Ventures, comments:
“We are delighted that the potential we saw in Lumora has been successfully realised. The progression of the company to these transactions reflects the commitment and passion of the management team and, in ERBA Diagnostics Mannheim the business has secured an excellent partner to help deliver the next phase of development.”
Lumora is a successful provider of state-of-the-art molecular diagnostic products into both the clinical and non-clinical or industrial markets. Lumora’s easy to deploy and use technology can be employed in fields as diverse as food safety testing, and medical diagnostics. Earlier this year, Lumora was named as a company to watch in 2015 by Kalorama, a leading publisher of market research in medical markets.
Notes to Editors
Catapult Ventures is a venture capital fund manager and operates a number of discrete venture capital funds on behalf of a range of public and private sector investors. Catapult’s experienced investment professionals have been specialising in the growth of equity capital to SME’s since 1999. Catapult’s business is about forming long term relationships and we have been a trusted partner and supportive investor to more than 70 companies.
About Catapult Growth Fund
The £30m Catapult Growth Fund was launched in 2006 and is funded by British Business Bank (formerly Department for Business Innovation and Skills) and local authority pension funds.
For further information please contact Ed Wass on 0116 238 8200/ 07771 596 007 or email@example.com