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Lumena Pharmaceuticals raises $45M in Series B financing

San Diego-based Lumena Pharmaceuticals, a biopharmaceutical company focused on the development and commercialization of novel products for rare liver diseases and serious metabolic disorders, has secured $45 million in Series B financing.

Lumena will use the funding to advance the clinical development of LUM001, its lead product candidate, for the treatment of rare cholestatic liver disease in pediatric and adult patients, as well as LUM002 for the treatment of nonalcoholic steatohepatitis.

“This funding will support the continued development of LUM001 in our ongoing global clinical programs, as well as a planned Phase 2 clinical trial of LUM002 to be initiated later this year in patients with NASH, a significant and growing patient population for which there are currently no approved treatments,” said Mike Grey, president and CEO of Lumena Pharmaceuticals.

New Enterprise Associates led the financing, with Adage Capital Management and RA Capital Management participating and joining existing investors Pappas Ventures, RiverVest Venture Partners and Alta Partners.

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