LumaBridge raises funding to support oncology-focused clinical research

This comes one day after LumaBridge changed its name from Cancer Insight

Clinical trials are getting a lot of attention right now, many with the goal of decentralizing them or automating them, such as Florence Healthcare, Medable, Curebase, and Castor.

LumaBridge is tackling the problem in a different way: the oncology-focused clinical research organization helps emerging biopharma companies with their design and strategy, helping them navigate what is both an expensive, and complicated process.

On Wednesday, the company announced that it raised an undisclosed amount of funding from Summit Partners; this comes one day after it revealed that it had changed its name from Cancer Insight.

Founded in 2014, LumaBridge acts as a strategic partner to emerging biopharma and biotech companies, offering full outsourced clinical trial support across the entire timeline of clinical development. LumaBridge's offering includes consultation on clinical development strategy, as well as special capabilities in military research.

LumaBridge designs and executes immuno-oncology clinical trials, acting as a strategic development partner, offering clinical data management, regulatory affairs, clinical operations, and special capabilities in government/military contracts and funding. 

The company pairs sponsors with a project team to support their trial design, adhering to every regulatory requirement. It helps sponsors pursue suitable target populations and therapeutic areas for their potential therapy, and it also helps anticipate regulatory requirements and equip sponsors to work cooperatively with the FDA.

In the last eight years, LumaBridge has supported trials and projects for over 30 clients.

"Innovative therapies often come from unexpected places, but navigating complex clinical and regulatory pathways can be challenging," Dr. George Peoples, founder and chief medical officer of LumaBridge, said in a statement.

"We built LumaBridge to provide expert support for the execution of clinical trials and ultimately advance novel immunotherapies that benefit patients."

The company says it will use its new funding to "continue to build on its work offering best-in-class clinical trial solutions to support emerging biopharma companies that are working to develop life-changing immuno-oncology treatments."

As for its new name, LumaBridge wrote that it "reflects the company's vision for working hand-in-hand with emerging biopharma companies and lighting a path forward to the development of life-changing immunotherapy cancer treatments."

(Image source: lumabridge.com)