LuminUltra Expands Testing Capacity Including Range of COVID-19 Offerings with Acquisition of Source Molecular Corporation

FREDERICTON, NB, Nov. 30, 2020 /CNW/ - Biotechnology front-runner LuminUltra today announced the acquisition of Source Molecular Corporation, a leader in lab-based testing solutions for microbial source tracking of pathogens including SARS-CoV-2, the virus that causes COVID-19. With this acquisition, LuminUltra has further expanded its range of molecular testing options for a variety of use cases. Customers around the world can now choose to analyze samples remotely via mail-in service to Source Molecular, or rapidly onsite using LuminUltra's gold standard GeneCount® qPCR testing kits.

LuminUltra is a global leader in developing tests and reagents for environmental, industrial, and diagnostic monitoring. Founded in 1995, it has been on a deliberate and accelerated growth trajectory over recent years. Through strategic acquisitions of multiple companies as well as a partnership with private equity firm XPV Water Partners, LuminUltra has proactively grown its portfolio to add capacity and testing options for customers to access their testing solution of choice – all from a single, dependable source.

"Our main priority at LuminUltra continues to be to deliver reliable solutions and options to help customers improve their safety and testing protocols," says LuminUltra Chairman and CEO Pat Whalen. "Source Molecular and LuminUltra have benefited from a partnership over recent months to deliver essential COVID-19 environmental surveillance monitoring, including Source Molecular's industry-leading, lab-based pathogen testing capabilities. This natural next step for LuminUltra and Source Molecular will enable us to further meet our shared objective to deliver greater access to a full suite of industry leading solutions, increasing testing capacity worldwide and directly helping to combat the COVID-19 pandemic."

"This type of access to reliable molecular testing solutions is crucial both during the pandemic, as well as beyond as the public looks for greater understanding of pathogens that may be present or forming in their systems," adds Whalen.

"Source Molecular is thrilled to join the LuminUltra team," says Source Molecular director Kirk Shryoc. "Our team is passionate about molecular and pathogenic source tracking and it is exciting to bring this expertise to a company with a strong management team and a vision for bringing this unique capability to a broader market."

This combination of expertise and capacity enables further worldwide expansion with innovative and flexible solutions while ensuring a seamless transition and continuity for existing loyal customers. Through the integration of the two companies, LuminUltra and Source Molecular will retain their existing brands.

LuminUltra COVID-19 Testing Solutions
LuminUltra provides a complete solution for COVID-19 testing, including: clinical diagnostics, surface and air testing for simple and effective surveillance of the presence of virus in buildings, and wastewater testing for broad, 'early detection' population monitoring. LuminUltra's innovation and reliability is highlighted by the company's commitment to the Government of Canada, providing 500,000 COVID-19 clinical testing reagents, weekly to testing sites around the country.

LuminUltra's industry gold-standard GeneCount® qPCR devices – both the portable and high-capacity options – are compatible with both the clinical and environment tests. This means that clinical and environmental testing samples can be analyzed with the same device, allowing for efficient and highly effective diagnostic and surveillance testing.

About LuminUltra
Founded in 1995, LuminUltra is a biological diagnostic testing company headquartered in Canada with operations in six countries. It is widely recognized globally as a leader in developing tests and reagents for environmental, industrial, and diagnostic monitoring and is a key supplier of COVID-19 clinical testing reagents to the Government of Canada. Customers in over 80 countries trust LuminUltra's technology, production reliability and history of customer service excellence to deliver their essential services in a safe-state. At the same time, LuminUltra fosters a culture of innovation and agility and is on an accelerated growth path, acquiring multiple companies in recent years and forming a partnership with the specialized private equity firm XPV Water Partners. Additional information can be found at luminultra.com.

About Source Molecular
As the world's only ISO 17025 accredited environmental lab for SARS-CoV-2, Source Molecular provides industry-leading pathogen testing, mapping and forensics for water, soil, surfaces, and air. The company's analytical capabilities target dangerous elements — from SARS-CoV-2 to pollution to superbugs — that threaten the health and economic strength of our communities. Based in Miami, FL, the company partners with clients to identify, track, and test microbial contamination and pathogens, as well as interpret the data and craft the remediation plans that lead to real-world solutions.

SOURCE LuminUltra

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