Lumito’s product, SCIZYS, is based on unique and patented technology using upconverted nanoparticles (UCNPs). It will be a valuable tool for researchers and pathologists, as SCIZYS provides a more comprehensive basis for tissue analysis compared to today’s existing technology. With SCIZYS, users can achieve higher precision in their analyses by obtaining clearer images of tissue samples. This contributes to more efficient work for the user, which may lead to shorter turnover times for discovering/identifying illnesses and the opportunity to provide the right treatment at the right time.
Lumito offers a scalable business model with two options. Firstly, customers can purchase the scanner as a capital product with an accompanying software program and decide on the number of consumables that they will need. This option provides customers with full ownership of the scanner.
Secondly, Lumito offers the opportunity to place scanners in research laboratories, where the customer commits to purchasing predetermined volumes of reagents over the contract period. This provides Lumito with a stable and predictable revenue stream through recurring purchases of consumables.
By outsourcing distribution and production, Lumito avoids expanding the company’s organisation in these areas. It enables quick adaptation to the market and focuses on the core business of delivering high-quality solutions in digital pathology.
The market is driven by several strong trends, such as an ageing population, an increasing need for diagnostics for age-related illnesses, and a growing focus on personalised medicine. Upon launch, Lumito initially targets research laboratories but plans to expand to clinical environments in the future. This strategy presents an opportunity to significantly increase the market share. Several pilot studies also indicate the product’s potential for an expanded range of indications.