Planet Innovation’s corporate strategy is to incubate, grow and, at the right time, spin-off high value technology businesses as independent entities. Our approach is to start with the customer and market opportunity and work back to an innovative solution. It relies on ‘market pull’ rather than ‘technology push’ to define the direction of our business ventures. As each venture reaches an appropriate level of maturity it is spun-off from the Planet Innovation parent company as a stand-alone entity, including securing direct capital funding to provide financial independence.
Lumos Diagnostics, Atmo Biosciences and Zen Ecosystems have been successfully launched as independent businesses after being incubated within Planet Innovation’s Incubator division.
Visus Therapeutics was created via the spin-out of all therapeutic assets after the merger between RPS and Lumos Diagnostics which occurred in May, 2019.
Rapid point-of-care diagnostic solutions
Lumos Diagnostics provides rapid, cost-effective and complete point-of-care (POC) diagnostic test solutions that use digital reader platforms to help healthcare professionals more accurately diagnose and manage diseases and medical conditions. Lumos provides assay development and manufacturing services for customized POC tests, as well as directly develops, manufactures and commercializes Lumos-branded POC tests. The first Lumos test to be launched is FebriDx®, a CE-marked and TGA-registered rapid POC test that can help clinicians distinguish viral from bacterial infections.
A digital health business underpinned by a world-first ingestible gas-sensing capsule
The Atmo Gas Capsule offers a non-invasive, low-cost and accurate way to diagnose gastrointestinal disorders and monitor microbiome function. Gut disorders are among the most common ailments in the world, affecting tens of millions of people. When swallowed, the Atmo Gas Capsule measures gas biomarkers produced by the microbiome within the gut, giving real-time insight into gut health and leading to better diagnosis and assessment of treatments for gastrointestinal disorders.
Pioneering novel ophthalmic and wound care therapies in large unaddressed markets
Founded in October 2019, Visus Therapeutics’ lead program is a fixed formulation eyedrop treatment for presbyopic patients. Presbyopia, the loss of near vision that occurs with age, is expected to affect 2.1 billion people this year, with about 123 million patients in the US. Visus is preparing for late stage clinical trials for its once-a-day eyedrop treatment. The patent-protected formulation has already demonstrated a significant improvement in near visual acuity from five safety and efficacy studies, with three of these published.
An intelligent energy management solution targeting commercial buildings
Zen Ecosystems is a cloud-based energy management solution, connected to a smart thermostat, which addresses the gap in the market where 86% of all commercial buildings in the USA have no energy management solution. Zen Ecosystems is generating and analyzing real-time HVAC and environmental data from its commercial customers and intends to launch new services that improve energy efficiency and productivity at the grid-edge.