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Luas Diagnostics has a licensed platform technology on which it will develop accurate and affordable diagnostic tests which require minimal training and can be deployed in remote settings away from centralised testing laboratories. The initial focus is on Therapeutic Drug Monitoring and Covid-19 testing.

  • A platform technology enabling the development of a range of tests
  • Monitoring of therapeutic drug levels for COPD and Psychosis
  • Working with UOB to develop a simple Covid-19 test using saliva.
  • Exclusive UK rights for specific Covid antibody & antigen rapid tests
Information Luas Diagnostics has raised £49,231.90 prior to launching their campaign on Crowdcube which is represented on the progress bar for clarity. Shares have already been issued in relation to this investment, however the investment has been made on the same terms as those offered to Crowdcube investors. £49,231.90 will be spent during the course of the campaign.

Idea

Luas Diagnostics was incorporated in the UK in June 2020. The company plans to develop and market easy-to-use, rapid and accurate diagnostics tests. There are two parts to the business.

1. Covid-19 testing

Luas has signed an exclusive distribution agreement with Chembio Diagnostics Systems in the USA to market their Covid-19 antibody and antigen tests in the UK and Ireland. These tests will be sold for use in the workplace, pharmacies, care homes, airports, police forces and many other market segments.

Luas has signed a memorandum of understanding with the University of Birmingham to develop a saliva based, rapid Covid-19 test. Saliva is a convenient sample to obtain and has been shown to be as accurate as swabs.

2. Therapeutic Drug Monitoring

Using an adaptation of the technology currently used worldwide to test diabetics for glucose levels in blood, Luas is developing products to monitor therapeutic drug levels. Certain diseases are treated with drugs which must be maintained in the blood stream at appropriate levels. Today, patient drug levels are measured in centralised laboratories. Luas is developing a test for drug monitoring which could be used at home, in pharmacies or GP surgery. The first product will test for Theophylline which is used to treat Chronic Obstructive Pulmonary disease. Our plans are then to develop a test for Lithium which is used to treat Psychosis.

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Risk warning

Investing in start-ups and early stage businesses involves risks, including illiquidity, lack of dividends, loss of investment and dilution, and it should be done only as part of a diversified portfolio. Crowdcube is targeted exclusively at investors who are sufficiently sophisticated to understand these risks and make their own investment decisions. You will only be able to invest via Crowdcube once you are registered as sufficiently sophisticated. Please click here to read the full Risk Warning.

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Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Luas Diagnostics has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.