Lumira Ventures

Lumira Ventures is a venture capital investor focused on innovative digital, biopharmaceutical, and medical device companies in North America. With an engaged partnership approach, we actively assist management teams in these investment companies as they advance product development to realize the vision of improving human healthspan. October 19, 2022, Boston – PIC Therapeutics, Inc., a biopharmaceutical company dedicated to developing life-changing cancer treatments, announced the completion of a $35 Million Series A fundraising. Lumira Ventures, Harrington Discovery Institute, and various new investors contributed to the fundraising. Investors in previous rounds, including Belinda Termeer and Advent Life Sciences, participated in this round. The completion of this fundraising and the participation of existing investors are essential for PIC Therapeutics to achieve crucial near-term milestones. The company plans to use the funding to prepare and conduct development-stage testing of its small molecule drug (an allosteric eIF4E-binding protein Translation Modulator), as well as its first-in–man clinical trials in advanced metastatic Breast Cancer. Funding will also be allocated towards the expansion of PIC Therapeutics’ development of its portfolio of new oncology indications. The lead therapeutic from PIC Therapeutics is targeting a fundamental mechanism of integrating multiple oncogenic signaling pathways. This mechanism results in cancer cells losing their ability to maintain their high cellular capacity, while normal cells remain unaffected. This mechanism provides many advantages over traditional approaches and addresses several pharmacologic node drivers simultaneously. This complex regulatory circuit allows the target cells to drive differential CAP-dependent translation and promotes apoptosis and cell death into cancer cells.