Why Incubic Invested in LightDeck Diagnostics
By Michael Chang
“If you are looking for ransom, I can tell you I don’t have money. But what I do have are a very particular set of skills, skills I have acquired over a very long career, skills that make me a nightmare for people like you.” – Liam Neeson in Taken
In the movie Taken, Liam Neeson’s character has a famous monologue where he informs the villain of his’ particular set of skills.’ In the same way that unique skills make for a strong and exciting protagonist, a ‘particular set of skills’ is what sets apart a good company from a great one.
Milton Chang, the founder of Incubic, met the CEO and founder of LightDeck Diagnostics, Dr. Chris Myatt, at his first company, Precision Photonics (PPC). Milton invested in PPC back in 2001 and stayed with the company through its successful exit in 2012. When Chris and his partners later formed LightDeck, Milton was the company’s founding investor. The vision that the all-star team has for LightDeck brings together that unique combination of skills and experience to create a true market disruption.
A Perfect Marriage of Optics and Diagnostics
LightDeck imagines a future where fast, affordable, and highly-accurate testing can be leveraged by anyone, anywhere, without compromise, and it has brought together the brightest in each discipline to rival incumbent diagnostics players.
The founders had previously founded two different organizations, MBio Diagnostics and Brava Diagnostics, combining forces to make LightDeck Diagnostics in July of this year. The team at MBio brings successful laser and optics innovation, while Brava Diagnostics brings decades of experience in the diagnostic industry. Drawing on their synergies across technologies and business segments, the combined teams form a powerful union in LightDeck Diagnostics.
Platform and Flywheel
Outside of the team’s ‘particular set of skills,’ they have also refined the platform over time and over multiple markets – human care, environmental, and veterinary. The technology is mature and versatile, allowing LightDeck to spin up new, extended applications on a single platform within just months, versus traditional systems which can take years or are limited to only one test.
We realized at Incubic that LightDeck was creating the first truly novel diagnostics platform since the notion of the central lab. Not only that, but they have the development speed to start a flywheel (Good2Great) to become a Great business.
Faster time to market → more menu → more LightDeck product platforms in the market → Repeat
With this latest round of funding, we look forward to supporting the LightDeck team as it scales to develop a variety of point-of-care tests for COVID-19, cardiac markers, sepsis and more. Like Liam Neeson’s character in Taken, once LightDeck’s flywheel gets going, there’s no stopping!