Lumen Bioscience Secures Additional Funding to Advance Groundbreaking Oral Biologics Platform
Seattle-based Lumen Bioscience has achieved a significant milestone in its journey to revolutionize how biologic drugs are delivered to patients. The company recently secured a $30 million Series C extension led by WestRiver Group, bringing its total funding to an impressive $186.8 million since its founding in 2017. This substantial financial backing reflects growing confidence in Lumen’s innovative approach to creating orally delivered biologic drugs using genetically engineered spirulina, a type of blue-green algae that most of us associate with health food stores rather than pharmaceutical breakthroughs. For patients who currently rely on injections or infusions to receive their medications, Lumen’s technology represents a potential paradigm shift in treatment delivery and accessibility.
The timing of this funding couldn’t be better for Lumen, as the company recently reported promising Phase 2 results for its lead candidate, LMN-201, which targets recurrent Clostridioides difficile infection—a persistent and potentially life-threatening intestinal condition that affects thousands of patients annually. By focusing on diseases that originate in or affect the gastrointestinal tract, Lumen has identified a strategic niche where its oral biologics platform can provide maximum benefit. Traditional biologics—protein-based drugs like antibodies or enzymes—typically can’t survive the harsh environment of the digestive system, requiring administration via injection or infusion. Lumen’s approach changes this fundamental limitation by using spirulina as both the production system and the delivery vehicle, allowing therapeutic proteins to reach their targets in the GI tract intact and active.
As Lumen advances its scientific mission, the company has also strengthened its leadership team with notable additions and promotions. Jeff Raikes, who brings decades of executive experience as former Microsoft president and Gates Foundation CEO, has joined the board as an independent director. His expertise in scaling organizations and global health initiatives will likely prove invaluable as Lumen navigates the complex journey from clinical development to commercial availability. Additionally, Erik Anderson, founder and CEO of lead investor WestRiver Group, has been elected vice chairman of the board, further solidifying the relationship between Lumen and its financial backers. These high-profile additions to the board signal growing confidence in Lumen’s potential to transform biologic drug delivery.
The company’s internal team is evolving as well, with Nhi Khuong being promoted to Executive Vice President and Kole Krieger advancing to Senior Vice President. These promotions recognize the contributions of key team members who have helped advance Lumen’s platform and pipeline. In a strategic move to enhance its clinical development capabilities, Lumen has also brought on Dr. David Saunders, a retired U.S. Army colonel with extensive experience in clinical trials. Dr. Saunders’ background will likely prove crucial as the company moves more candidates through the clinical development process and works toward regulatory approval. This blend of internal advancement and external recruitment demonstrates Lumen’s commitment to building a team capable of executing its ambitious vision.
Lumen’s growth extends beyond its leadership and scientific teams. The company has expanded its workforce by nearly 40% since 2023, now employing 110 people, and has opened a second manufacturing facility to support its advancing pipeline. This expansion reflects the increasing complexity and scale of Lumen’s operations as it progresses from early research to mid-stage clinical trials and prepares for potential commercialization. Manufacturing biologics at scale has traditionally been a significant challenge and expense in the pharmaceutical industry, but Lumen’s spirulina-based platform potentially offers advantages in both cost and scalability. The addition of a second manufacturing facility suggests the company is preparing for increased production demands as more of its candidates advance through clinical trials.
At the helm of this growing enterprise are CEO Brian Finrow, who previously served as senior vice president at Adaptive Biotechnologies, and Chief Science Officer Jim Roberts, formerly head of basic sciences at the Fred Hutchinson Cancer Research Institute. Since co-founding Lumen in 2017, they have guided the company from a conceptual platform to a clinical-stage organization with multiple drug candidates in development. Their combined expertise in biotechnology business development and fundamental scientific research has positioned Lumen at the intersection of innovation and practical application. As the company continues to grow and its lead candidates advance through clinical trials, Lumen stands poised to potentially deliver on the long-sought goal of making biologic drugs more accessible, convenient, and affordable through oral delivery—a development that could significantly improve treatment options and quality of life for patients worldwide who currently depend on injectable biologics.
