Summit Partners invests in cancer CRO LumaBridge

The funding will help LumaBridge continue to build on its work offering clinical trial solutions to support emerging biopharma companies.

  • LumaBridge was founded in 2014 by veterans Dr. George Peoples and Dan Hargrove
  • Founded in 1984, Summit Partners currently manages more than $35 billion in capital
  • Summit has invested in more than 550 companies in healthcare, technology, and other growth industries

Summit Partners has made an investment in LumaBridge, an oncology-focused clinical research organization. No financial terms were disclosed.

The funding will help LumaBridge continue to build on its work offering clinical trial solutions to support emerging biopharma companies.

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.

“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.”

Founded in 1984, Summit Partners currently manages 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.