LumaBridge Announces Growth Equity Investment From Summit Partners

SAN ANTONIO and BOSTON, Aug. 24, 2022 /PRNewswire/ -- LumaBridge, (formerly known as 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 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.

LumaBridge was founded in 2014 by veterans Dr. George Peoples and Dan Hargrove to help advance the development of novel immunotherapies in the fight against cancer. Building on the founders' 3 decades of combined experience in academic and military research, LumaBridge serves as a strategic partner to emerging biopharma and biotech companies, offering full outsourced clinical trial support across the entire timeline of clinical development.

"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 advance novel immunotherapies that benefit patients."

LumaBridge offers comprehensive CRO services, including consultation on clinical development strategy, as well as special capabilities in military research. Over the 8 years since its founding, LumaBridge has made a significant impact in the advancement of immuno-oncology therapies, supporting a substantial 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 experience and extensive 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 pipeline for clinical-stage immuno-oncology therapies is growing, as is the complexity, duration, and cost of these trials, fueling a need for outsourced services. In our experience, this is particularly true among emerging biotech companies, which often lack the internal resources to run trials in-house," said Mark deLaar, a managing director at Summit Partners who has joined the LumaBridge board of directors. "With a deeply experienced and highly regarded team, an extensive research site network, and robust clinical operations capabilities, we believe LumaBridge is strongly positioned to serve this important and growing need. We're proud to partner with the LumaBridge team to support the company's continued impact."

LumaBridge is a specialty clinical research organization (CRO) focused on creating innovative clinical trial solutions for biopharma companies. Founded in 2014 as Cancer Insight, the company offers customized clinical trial guidance, strategic partnership, and personalized attention to each sponsor, accelerating the development of potential therapies.

LumaBridge builds on the success and experience of a seasoned team, led by Dr. George Peoples, to support drug development, accelerating therapies to patients and guiding 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.

Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $35 billion in capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in healthcare, technology, and other growth industries. Notable healthcare and life sciences companies backed 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 around the world.

For more information, please see www.summitpartners.com or follow on LinkedIn.

LumaBridge
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SOURCE LumaBridge