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NEA Leads $45M Series B For Lumena Pharmaceuticals

03/11/2014

Lumena Pharmaceuticals, a biopharmaceutical company focused on the development and commercialization of novel products for rare cholestatic liver diseases and serious metabolic disorders, announced that it has secured $45 million in Series B financing. New Enterprise Associates (NEA) led the financing, with Adage Capital Management and RA Capital Management participating and joining existing investors Pappas Ventures, RiverVest Venture Partners and Alta Partners. Founded in 2011 by Pappas Ventures, Lumena will use the funding to advance the clinical development of LUM001, its lead product candidate, for the treatment of rare cholestatic liver disease in pediatric and adult patients, as well as LUM002 for the treatment of nonalcoholic steatohepatitis (NASH).

“Lumena has made significant progress in the three years since the company was founded, advancing our lead candidate through development in multiple Phase 2 clinical trials in patient populations with rare cholestatic liver diseases and significant medical needs,” said Mike Grey, president and CEO of Lumena Pharmaceuticals. “This funding will support the continued development of LUM001 in our ongoing global clinical programs, as well as a planned Phase 2 clinical trial of LUM002 to be initiated later this year in patients with NASH, a significant and growing patient population for which there are currently no approved treatments.”

LUM001 and LUM002 are both inhibitors of the apical sodium-dependent bile acid transporter (ASBT), which is primarily responsible for recycling bile acids from the intestine to the liver. Blocking bile acid transport with ASBT inhibitors reduces bile acid absorption and has the potential to slow disease progression, improve liver function and enhance the quality of life for patients suffering from rare cholestatic liver diseases and NASH.

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