Lumos Diagnostics Holdings Ltd. announced it has signed two new Agreements with Hologic Inc. The two Agreements ("Agreements") encompass a Development Agreement and an Intellectual Property ("IP") Agreement. Under the Development Agreement Lumos is entitled to receive up to USD 4.7 million in payments over an 18-24 month timeframe, subject to achieving certain development milestones. The IP Agreement provides Hologic with an exclusive license in the field of fetal fibronectin to Lumos proprietary reader and POC technologies that will be incorporated into the next generation product under development.

This Agreement provides for two non-refundable USD 5.0 million payments to Lumos from Hologic, the first upon signing and the second in June 2024. These Agreements build on previous contract development work conducted by Lumos for Hologic over the last 12-months. The new Agreements focus on the development of an improved version of one of Hologic's leading on market women's health products and includes adapting it for use on Lumos' proprietary reader platform.