LMDX - Bill & Melinda Gates Foundation takes 7.4% passive stake in LumiraDx

• The Bill & Melinda Gates Foundation has picked up a 7.4% passive stake in LumiraDx ( NASDAQ: LMDX ), sending shares of the small-cap diagnostics company surging ~23% after hours.
• The passive stake was disclosed in a 13G filing with the U.S. SEC on Friday .
• London-based LMDX has a partnership with the Bill & Melinda Gates Foundation to distribute its rapid COVID-19 test and its various multi-assay testing platforms to African countries.
• According to a LMDX press release in May , the partnership had already distributed 5K of LMDX's testing platforms in 49 African nations.
• The company in May received a World Health Organization emergency use listing for the COVID-19 test, called LumiraDx SARS-CoV-2 Ag Test.
• The test uses nasal swab specimens and, when used with the LumiraDx multi-assay platform, provides rapid results at the point of care.

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