What You Ought to Know:
– Lucira Well being, Inc. (Nasdaq: LHDX), a medical expertise firm targeted on the event and commercialization of transformative and progressive infectious illness take a look at kits, at this time introduced it has secured a debt facility of as much as $80M with Hercules Capital, Inc. and Silicon Valley Financial institution.
– Lucira’s COVID-19 testing platform produces lab-quality molecular testing in a single-use, consumer-friendly, palm-size take a look at equipment powered by two AA batteries. The FDA EUA approved Lucira™ Examine-It COVID-19 Take a look at Package (OTC) and Lucira™ COVID-19 All-In-One Take a look at Package (Rx) are designed to offer a clinically related COVID-19 end result inside half-hour from pattern assortment.
Monetary Particulars
Below the time period mortgage, Lucira acquired the primary tranche of $30M at closing. A second tranche of $20M can be out there between September 1, 2022 and March 31, 2023 upon reaching sure milestones. A 3rd tranche of $15M can be out there previous to June 15, 2023 upon reaching sure milestones. A fourth tranche of $15M could also be made out there previous to March 15, 2024, as decided by Hercules and SVB.