Luminate, a University of Galway spin-out that makes products to control the side effects of treatment for cancer, has raised $15 million (€13.5 million). The initial investment round will allow the business to add 30 staff, doubling its workforce in advance of a launch in the US market next year.

Chief executive Aaron Hannon said the investment was a vote of confidence and he is looking forward to seeing the positive impact it will have for patients.

The funding follows a successful clinical trial phase for Luminate products, which focus on treating cancer at home. These include a hat, called Lily, worn during chemotherapy to prevent hair loss, and gloves and boots, named Lilac, to prevent peripheral nerve damage.

According to research, cancer patients spend more than 10 per cent of their time in hospitals, the company says.

Mr Hannon said it is exciting to be able to grow the team “with over 30 new roles in our HQ in Galway, and also in the US”.

The $15 million investment was led by venture capital firm Artis Ventures, along with Metaplanet and 8VC. Lachy Groom, an early employee at Stripe, was also among the names of those who put forward capital.

Austin Walne, partner at Artis Venture, said Luminate had the potential to create a more comfortable experience for patients as well as reducing costs for insurers.

Luminate is designing a new product called Lotus to give low-risk anti-cancer drugs to patients at home.

Bringing Cancer Care Home

The move towards home healthcare was accelerated by Covid-19, Mr Hannon said. The impact could be seen in the US as the country tries to move hospital care to a home setting, he added.

By collecting medical data from patients directly, they “get to spend less time waiting and more time living when they are going through a really difficult time”, he said.

Luminate was established in 2018 by Mr Hannon, Dr Barbara Oliveri and Prof Martin O’Halloran when they were medical device researchers at the University of Galway.

A Promise of a More Comfortable Future for Cancer Patients

Luminate's mission to bring cancer care home is driven by the desire to improve the quality of life for patients during treatment. Their innovative products, Lily, Lilac, and the upcoming Lotus, aim to address common side effects and empower patients to manage their care more effectively.

The company's success in securing significant funding is a testament to the potential of its technology and its commitment to transforming cancer care. With plans to expand its team and launch in the US market, Luminate is poised to make a meaningful difference in the lives of cancer patients around the world.

A New Era for Cancer Care: Luminate's Vision for the Future

Luminate's vision goes beyond simply treating cancer at home; it seeks to redefine the entire cancer care experience. By creating innovative devices that prevent debilitating side effects and enable patients to manage their own care, Luminate is empowering patients to take control of their health journey and live fuller lives.

The company's commitment to research and development, coupled with its ambitious expansion plans, suggests that Luminate is on the cusp of revolutionizing cancer care. The future of cancer care may well be personalized, convenient, and accessible, thanks to the groundbreaking work of Luminate and its dedicated team.