NEW YORK — Deerfield Management Company is leading a $34 million investment in Lumos Pharma’s Series B financing. The proceeds of the financing will be used to develop LUM-001, Lumos’ lead compound, for the treatment of Creatine Transporter Deficiency (CTD). Funding will also be used to further develop other therapeutics in the company’s pipeline, which is based in Austin, TX.
“We are proud to be partnering with a pioneer in the orphan disease space to develop a cure for CTD. With the similarities of symptoms with autism often leading to misdiagnosis, and the lack of a current effective therapy, CTD often goes untreated. We believe Lumos has the cutting edge science and technology needed to develop LUM-001 to be the first treatment to help these young boys,” stated Cameron Wheeler, a Principal from Deerfield.
Creatine Transporter Deficiency is a rare defect which causes patients, mostly young boys, to be unable to actively transport creatine across the blood-brain barrier, resulting in delays in expressive speech and mental development, and also causes these boys to experience behavioral abnormalities, epilepsy and seizures. Due to the clinical presentation, those afflicted with CTD are often misdiagnosed with autism. This disease is severely debilitating, and the young boys require lifelong care. CTD is the second leading cause of X-linked mental retardation in males after Fragile X Syndrome. LUM-001 is a disease modifying therapy and may significantly alter the development of the defect and symptoms.
“We are excited to have Deerfield as a partner in Lumos. We believe Deerfield has the balance, flexibility and skills to help guide us as we move this important cure forward. Deerfield has a strong history in the orphan space and is committed to improving the lives of patients with CTD,” stated Rick Hawkins, CEO of Lumos Pharma.