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LumiraDx expands footprint at Maxim Park ahead of IPO

New letting at Maxim Park

A point of care diagnostics testing company, which has announced a $5 billion merger with a special purpose acquisition corporation, has doubled its footprint at the Maxim Park office complex in Lanarkshire.

The company announced last month that it would be creating 510 roles at three sites in Scotland as part of plans to establish a global health research, development and manufacturing hub.

LumiraDx has expanded its presence at Maxim Park by more than 30,000 sq. ft.

It originally leased the ground and first floors of Building 9 at the Shelborn Asset Management-owned development.

A new lease has now been completed for the remaining two floors in one of the largest lettings to have been concluded this year within the Lanarkshire office market.

London-based LumiraDX is listing on the New York-based Nasdaq exchange via a merger with CA Healthcare Acquisition Corp.

LumiraDx has raised $700 million in equity capital since its founding in 2014, and has raised funds from investors including Morningside Ventures, US Boston Capital Corporation, The Bill & Melinda Gates Foundation, Petrichor Healthcare Capital Management, among others.

On its expansion at Maxim Park, Peter Welch, LumiraDx vice president business development said: “The last year has been an incredible time of growth for LumiraDx as we both scale-up the manufacturing of our point of care (POC) testing platform and continue to develop other transformational POC tests. 

“To keep up with these market demands, it became critical for us to find additional space to devote for our growing R&D teams.”

Shelborn Asset Management is currently in the process of fitting out the floors, creating bespoke research and development offices and high-tech laboratory space. By the end of 2023 LumiraDx expects to have more than 200 employees at the site.

Knight Frank and CBRE are the park’s joint letting agents, and Colin Mackenzie, partner at Knight Frank added: “This significant letting demonstrates the ongoing demand for high quality, contemporary office space despite the pressures of the Covid-19 pandemic.”

See also: Swoop on two key offices in Glasgow and Edinburgh

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