Health

Seattle biotech startup led by Fred Hutch, Adaptive vets raises $16M for rapid drug development tech

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Lumen Bioscience immediately introduced a $16 million Collection B spherical to assist assist its novel strategy to rapid and low-cost drug development.

The corporate has give you a solution to produce orally-delivered antibodies and different biologics by utilizing a bioengineered shiny inexperienced algae known as Spirulina. It has three medical packages to deal with gastrointestinal ailments together with C. difficile, norovirus, and traveler’s diarrhea.

Lumen CEO Brian Finrow stated the corporate’s expertise lowers the price of biologic medication by an element of 1,000 or extra.

“With conventional applied sciences there’s nowhere close to sufficient manufacturing capability on the earth to deal with and stop these ailments on this approach, however Lumen’s expertise makes it possible,” he stated.

Lumen is led by Finrow, a former senior vp at Adaptive Biotechnologies, and Chief Science Officer Jim Roberts, the previous head of primary sciences on the Fred Hutchinson Most cancers Analysis Institute. They co-founded the startup in 2017.

The 50-person firm has a number of collaborations with organizations such because the Gates Basis, NIH, NIAID, Fred Hutch, and others. It’s presently working with the Gates Basis to develop infectious disease drugs alongside fellow Seattle startup A-Alpha Bio.

WestRiver Administration and Bioeconomy Capital led the spherical. Avista Development, Columbia Pacific, and native angels additionally participated, together with the co-founders. Complete funding up to now is $68 million.

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