Lumicell Expands Development Strategy and Pipeline Across Five Solid Tumor Cancers Supported by $28.7 Million Series C Financing

Proceeds to Fund Pivotal Trial in Breast Cancer

Leverages Broad Potential of LUM System with Drug, Device and
Software for Real-time Detection of Tumor Tissue in Patients During
Surgery

WELLESLEY, Mass.–(BUSINESS WIRE)–Lumicell, Inc., a technology leader in the field of image-guided cancer
surgery, today provided an update on the company’s development strategy
for its LUM system pipeline including plans to initiate its pivotal
trial in breast cancer as well as expansion of its clinical studies in
four other solid tumor cancers.

Advancement of the LUM System clinical pipeline will be funded through a
$28.7 million Series C financing, which the company recently closed.
Existing and new investors, including Launch Capital and BlueIO
participated in the financing.

Lumicell is investigating the LUM System in patients undergoing surgery
for breast cancer, prostate cancer, colorectal, esophageal and
pancreatic cancers. Additional future indications are planned to include
surgeries for lung, ovarian, and brain cancer, among others. The LUM
System was designed by leading engineers and scientists in partnership
with surgeons from academic and medical centers as an integrated system
with three unified components: drug, device and decision software to
guide cancer surgeons in the detection and removal of cancer cells in
real-time during surgery.

Kelly Londy, Chief Executive Officer of Lumicell, stated, “We are
grateful for the funding and support from our investors which will be
used to drive completion of our breast cancer studies as well as expand
the LUM System pipeline into additional cancer indications, with a focus
on driving innovation to improve patient outcomes. We look forward to
several key development milestones, over the next year, as our platform
moves into the next stages and our company grows.”

“We are pleased to support Lumicell in its drive toward providing cancer
surgeons with a single integrated system to detect and remove cancer
cells in real-time during surgery and potentially reducing the need for
repeat surgeries,” said Elon Boms, Founder and Chairman, Launch Capital.

“The clinical applications for the LUM System are far-reaching and we
look forward to working with the Lumicell team to expand this potential
game-changing advance in cancer surgery and beyond with their innovative
platform. We are very proud to be involved in supporting Lumicell’s
immediate go to market growth phase as they work to advance clinical
care for all cancer patients,” said Dave Furneaux, CEO of BlueIO and
Managing General Partner, Kodiak Venture Partners

About Lumicell, Inc.

Lumicell is a technology leader in the field of image-guided cancer
surgery. The company is developing a novel system that enables real-time
detection of tumor tissue in patients so that no cancer cells are left
behind during surgery. The LUM System includes three integrated
components: a fluorescent optical contrast agent that is cancer- and
immuno-activated, a novel hand-held imaging device that instantly scans
the cavity walls to view the fluorescent cells with single-cell
detection, and proprietary decision software that displays the image
instantly on a monitor to guide surgical removal of cancerous tissue.
The unprecedented ability to see and remove cancer cells remaining in
the cavity – beyond the margin of the specimen – during the initial
surgery has the potential to significantly improve surgical outcomes and
reduce healthcare costs by eliminating the need for repeat surgeries.
Lumicell is investigating the LUM System in patients undergoing surgery
for breast cancer, prostate cancer, colorectal, esophageal and
pancreatic cancers. Additional future indications are planned to include
surgeries for lung, ovarian, and brain cancers. For more information,
please visit www.lumicell.com.

Contacts

The Yates Network
Kathryn Morris, 914-204-6412
kathryn@theyatesnetwork.com