Seattle Biotech Startup Led By Adaptive, Fred Hutch Vets Raises $16M For Rapid Drug Development Tech
Lumen Bioscience today announced a $16 million Series B round to help support its novel approach to rapid and low-cost drug development. The company has come up with a way to produce orally-delivered antibodies and other biologics by using a bioengineered bright green algae called Spirulina. It has three clinical programs to treat gastrointestinal diseases including C. difficile, norovirus, and traveler’s diarrhea. Lumen CEO Brian Finrow said the company’s technology lowers the cost of biologic drugs by a factor of 1,000 or more.