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Lumos Pharma, an early stage biopharmaceutical development company, announced that it has raised $14 million in Series A financing. The round was co-led by Santé Ventures and New Enterprise Associates (NEA). Lumos Pharma will use the financing to support the preclinical and clinical development of its lead compound, LUM-001. LUM-001 is a small molecule therapeutic for the rare disease Creatine Transporter Deficiency (CTD), an inborn error of metabolism. In preclinical studies LUM-001 has shown disease modifying potential as a treatment for CTD.
“We are extremely pleased to announce the closing of our Series A financing round from Santé Ventures and NEA,” says Lumos Pharma’s Founder, President, and CEO Rick Hawkins. “Santé and NEA’s deep knowledge of drug development in the rare disease space will be valuable assets to our company and to the development of our lead compound. We are absolutely committed to bringing a much needed therapeutic to the patients afflicted with CTD and their families. The patients remain our first priority.”
Lumos Pharma’s lead compound, LUM-001 has been granted orphan designation by the FDA. The project has garnered the attention and support of the National Center for Advancing Translational Sciences (NCATS), part of the National Institutes of Health (NIH). Lumos Pharma and NCATS’ Therapeutics for Rare and Neglected Diseases (TRND) program researchers are collaborating on the study and development of this potential treatment for CTD. Through its TRND program, NCATS provides in-kind support for rare disease drug development capabilities, expertise, and clinical and regulatory resources.
“We are very grateful for the ongoing collaboration with TRND staff, and together with our new financial partners, Lumos is in an excellent position to succeed,” says Mr. Hawkins. “TRND’s dedication and contribution toward the development of therapies for rare diseases is nothing short of astounding.”