SAN ANTONIO & BOSTON–(BUSINESS WIRE)–LumaBridge (formerly Cancer Insight), an oncology-focused clinical research organization (CRO), today announced a majority growth investment from Global Investor Summit Partners. The funding will help LumaBridge continues to build on its work by providing best-in-class clinical trial solutions to support emerging biopharma companies working to develop life-changing immuno-oncology treatments.
LumaBridge was founded in 2014 by veterans Dr. George Peoples and Dan Hargrove to help advance the development of new immunotherapies in the fight against cancer. Building on the founders’ combined 3 decades of experience in academic and military research, LumaBridge serves as a strategic partner to emerging biopharma and biotechnology companies, providing full contracted clinical trial support throughout the clinical development timeline. .
“Innovative therapies often come from unexpected places, but navigating complex clinical and regulatory pathways can be challenging,” said Dr. George Peoples, founder and chief medical officer of LumaBridge. “We built LumaBridge to provide expert support for the execution of clinical trials and ultimately to advance new immunotherapies that benefit patients.”
Read more: Cancer Insight is now LumaBridge
LumaBridge provides comprehensive CRO services, including clinical development strategy consulting, as well as specialized capabilities in military research. Over the 8 years since its founding, LumaBridge has made a significant impact on the advancement of immuno-oncology therapies, supporting a significant number of trials and projects for over 30 clients.
“Summit Partners has a long history of partnering with leading companies in healthcare and life sciences, helping to accelerate their growth and development,” added Dave Boyle, chief executive officer of LumaBridge. “We are excited to leverage Summit’s extensive experience and resources as LumaBridge embarks on a new phase of growth and we expand our ability to support a greater number of trials and bring more therapies to market.”
“The path to clinical-stage immuno-oncology therapies is increasing, as are the complexity, length and cost of these trials, driving the need for outsourcing. In our experience, this is especially true for emerging biotech companies, which often lack the internal resources to conduct trials in-house,” said Mark deLaar, a managing director at Summit Partners who has joined the board of directors of LumaBridge. “With a deeply experienced and highly regarded team, an extensive research network, and strong clinical operations capabilities, we believe LumaBridge is strongly positioned to serve this important and growing need. We are proud that we are partnering with the LumaBridge team to support the company’s continued impact.”
LumaBridge is a specialized clinical research organization (CRO) focused on creating innovative clinical trial solutions for biopharma companies. Founded in 2014 as Cancer Insight, the company provides personalized clinical trial guidance, strategic partnerships and personalized attention to each sponsor, accelerating the development of potential therapies.
LumaBridge is based on the success and experience of an experienced team, led by Dr. George Peoples, to support drug development, accelerate therapies for patients, and guide biopharma companies through clinical and regulatory pathways. As part of their comprehensive CRO services, LumaBridge offers consultation on trial design and clinical development strategy.
For more information, visit lumabridge.com.
About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm currently managing more than $35 billion of capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests in all growth sectors of the economy and has invested in more than 550 companies in healthcare, technology and other growth industries. Prominent healthcare and life sciences companies supported by Summit include Advanced Cell Diagnostics, Clontech, Diagnostic Hybrids, Fortis Life Sciences, Integrated DNA Technologies, LakePharma and Viroclinics Biosciences. Summit maintains offices in North America and Europe and invests in companies worldwide. For more information, please see www.summitpartners.com or follow on LinkedIn.