Investment Notes: Lumonus

Investible is thrilled to announce our latest investment in Lumonus’ A$28m round alongside Aviron Investment Management, Oncology Ventures and Brandon Capital! This marks the first investment from our newly launched Investible Early Stage Fund 3.

Spun out of GenesisCare (Australia’s largest provider of cancer care services) in early 2023, Lumonus designed a digital oncology platform (Lumonus AI) transforming cancer care through AI-native clinical infrastructure. Built in partnership with leading cancer centers, Lumonus AI automates and orchestrates critical oncology workflows to improve quality, accelerate delivery and reduce administrative burden.

So far, the platform has helped oncology clinics across the US, UK, Australia and New Zealand improve average treatment planning time by ~2 days, reduce dosimetry costs by ~30% and admin burden per patient by ~100 mins, while ensuring quality guideline adherence (e.g. reducing dosimetry errors by ~70% on average).

Empowering care teams through intelligent radiation oncology workflows

The global radiation oncology market is estimated to be ~US$11b (forecasted to be growing at a CAGR of ~12% until 2034), with the US accounting for ~45% of the market, followed byEurope (~25%) and APAC (~20%). Future growth of this market is expected to be driven by an ageing population, increasing incidences of cancers and greater adoption of radiation therapy for cancer treatment.

Many providers are seeking workflow solutions that can better connect the consult, documentation and planning process in a seamless way. With increasing patient volumes and ongoing staffing constraints, the need for efficient, intelligent infrastructure to support care teams has never been greater.

As providers modernize radiation oncology operations, there is growing momentum toward platforms that unify core clinical and operational workflows into a single experience. This will help care teams spend less time navigating fragmented tools and more time focused on delivering care.

Lumonus is reimagining radiation oncology workflows through an AI-native platform that orchestrates end-to-end processes, enabling clinics to streamline treatment planning, reduce administrative burden and deliver better patient experiences at scale.

Impressive customer traction and feedback to date across the US, UK, Australia and New Zealand

Since commercialisation started in early 2023, Lumonus has supported clinicians in consulting and prescribing over 280,000 cancer treatments and has automated the creation of over 75,000 cancer treatment plans, demonstrating its impact in streamlining critical workflows and improving patient care at scale.

The business is already serving 90+ oncology clinic sites across the US, UK, Australia and New Zealand, including reputable clinic networks such as City of Hope in it’s Los Angeles locations.

With already great market share coverage across ANZ and the US, with rapid growth and positive customer sentiment, the company will be doubling down their go-to-market efforts in the US as a part of this raise.

A world class leadership team with deep oncology clinical, operational and technical experience

Lumonus’ leadership team have been working together for over 7 years before the spinout. Collectively, they have over 100 years of clinical, operational and technical experience from cancer centres across the US, Europe and APAC. They care deeply about the mission of delivering AI solutions which empower care teams to provide high quality and efficient treatment, given they have faced the inherent workflow pain points first-hand as industry insiders.

The leadership team is led by Keith Hansen (CEO) who has over 15 years of experience working at GenesisCare, most previously as Chief Strategy & Corporate Development Officer, covering Australia, the US, Europe and SEA regions.

Joining him are Dr. Tim Fox (CPO), Jamie Nash (COO), Fraser Hughes (CTO) and Rebecca Edwards (CFO).

We couldn’t be more excited to be backing Keith and the rest of the leadership team as they look to transform oncology care globally using AI!