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Lumen Bioscience Details 2022 Company and Facilities Growth, New Funding, and Clinical Pipeline Progress

Lumen Bioscience Details 2022 Company and Facilities Growth, New Funding, and Clinical Pipeline Progress
PR Newswire
SEATTLE, Jan. 5, 2023

Progress across all commercial and charitable clinical research programsStrong growth in headcount and facili…

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Lumen Bioscience Details 2022 Company and Facilities Growth, New Funding, and Clinical Pipeline Progress

PR Newswire

SEATTLE, Jan. 5, 2023

  • Progress across all commercial and charitable clinical research programs
  • Strong growth in headcount and facilities, including newly commissioned cGMP plant
  • $36 million in new funding in 2H2022, including major new research grants and equity

SEATTLE, Jan. 5, 2023 /PRNewswire/ -- Lumen Bioscience— a clinical-stage biotechnology company developing biologic drugs for highly prevalent diseases — today provided a review of the company's 2022 growth, including progress in its clinical development programs, GMP manufacturing expansion, and funding. Together, these efforts bolster Lumen Bio's unique drug development and manufacturing platform: a new way of making and delivering biologic drugs that promises to transform the industry through increased speed, mass-market scale, and exponentially lower costs.

"In 2022 we experienced strong growth across all facets of our company and operations, positioning Lumen for significant events in the coming year," said Brian Finrow, co-founder and CEO of Lumen Bio. "We're especially grateful for the continuing support of our shareholders and charitable research supporters. Thanks to them—and our broad team of internal and external researchers—we face 2023 with tremendous optimism."

Some aspects of 2022 progress include:

Commercial Pipeline — An accelerating pipeline of clinical stage programs targeting prevalent, unmet needs backed by blockbuster commercial opportunities.

  • LMN-201 for prevention of C. difficile infection – LMN-201 is the world's first rationally engineered, complex biologic cocktail to enter human clinical trials. The investigational product is orally delivered and designed to prevent C. difficile infection, a >$5 billion cash drain on the U.S. healthcare system. 2022 progress includes:
    • FDA cleared IND application supporting a Phase 2/3 multi-center, placebo-controlled trial to evaluate the efficacy of LMN-201 in preventing C. difficile recurrence (NCT05330182).
    • Completed Phase 1 pharmacokinetics trial (NCT04893239) demonstrating successful ileal delivery of LMN-201 and stability against human gastrointestinal protease digestion.
    • Published LMN-201 pre-clinical data manuscript (journal submission process underway).
    • Completed preliminary commercial planning and market analysis.
  • Kyorin Pharmaceuticals collaboration – A new commercial collaboration with Kyorin Pharmaceuticals was announced in March.
    • Like Lumen's other commercial programs, the investigational product is a cocktail of orally delivered therapeutic proteins.
    • The program remains on track to initiate clinical trials in early 2024.
  • Biologic cocktail for treatment of inflammatory bowel disease (IBD) – An orally delivered biologic cocktail for treating and preventing IBD (Crohn's disease and ulcerative colitis).
    • Lumen initiated preclinical development of this complex biologic cocktail in 2022.
    • Program remains on track for initial regulatory filings by the end of 2023.

Charitable (ESG) Clinical Development Pipeline — The unique scalability, low GMP COGS, and easy distributability of Lumen Bio's products make them uniquely applicable for a variety of neglected diseases. Where public research funding is available, Lumen Bio is committed to opening its platform for these diseases.

  • LMN-101 for traveler's diarrhea – Major funding received for two additional mid-stage clinical trials in 2023, a gastrointestinal pharmacokinetics trial and an enhanced dose-ranging challenge study in C. jejuni. Lumen also made strong progress in the CARB-X-funded program to develop a broad antibody cocktail offering protection against most clinically important strains of ETEC and C. jejuni.
  • LMN-301 for Covid-19 – In 2022, Lumen Bio's Covid-19 funding consortium expanded to include BARDA and the Bill & Melinda Gates Foundation. Strong preclinical data with an intranasal formulation was announced in December. The program is on track to initiate human clinical trials in mid-2023.
  • Intranasal malaria vaccine – Development of needle-free spirulina produced recombinant protein against malaria. Published findings in Nature Partner Journals (NPJ) Vaccines. Program funding renewed by NIH to advance the vaccine into IND-enabling studies.
  • Antibiotic-resistant bacterial infections – In December, Lumen Bio announced significant new funding support from the US Navy Medical Research Center to develop a biologic cocktail to prevent antibiotic infections, a major unmet medical need in battlefield medicine.

Facilities, Platform, and Team

  • Platform technology paper featured on the cover of Nature Biotechnology.
  • Major expansion of cGMP manufacturing facility commissioned in Seattle.
  • New lease quadrupling Lumen's laboratory and office space at existing headquarters in Seattle.
  • Expanded headcount to 90, with growth across the clinical, GMP manufacturing, R&D, and quality teams.

Funding – support from venture, grant funding and non-dilutive funds from collaborations

About Lumen

Lumen Bioscience discovers, develops, and manufactures biologic drug candidates for highly prevalent diseases—many of which currently lack effective treatments. The company's unique drug development and manufacturing platform offers the potential to transform the biologics industry through increased speed, mass-market scale, and exponentially lower costs than current approaches. Lumen's clinical pipeline includes investigational biologic drugs for C. difficile infection, Covid-19, cardiometabolic disease, inflammatory bowel disease, norovirus, and traveler's diarrhea. For more information, visit: www.lumen.bio.

Media Contact:
Julie Rathbun
+1.206.769.9219
jrathbun@lumen.bio

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Aging at AACR Annual Meeting 2024

BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging…

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March 11, 2024

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BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging research. Aging is one of the most prominent journals published by Impact Journals. 

Credit: Impact Journals

BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging research. Aging is one of the most prominent journals published by Impact Journals. 

Impact Journals will be participating as an exhibitor at the American Association for Cancer Research (AACR) Annual Meeting 2024 from April 5-10 at the San Diego Convention Center in San Diego, California. This year, the AACR meeting theme is “Inspiring Science • Fueling Progress • Revolutionizing Care.”

Visit booth #4159 at the AACR Annual Meeting 2024 to connect with members of the Aging team.

About Aging-US:

Aging publishes research papers in all fields of aging research including but not limited, aging from yeast to mammals, cellular senescence, age-related diseases such as cancer and Alzheimer’s diseases and their prevention and treatment, anti-aging strategies and drug development and especially the role of signal transduction pathways such as mTOR in aging and potential approaches to modulate these signaling pathways to extend lifespan. The journal aims to promote treatment of age-related diseases by slowing down aging, validation of anti-aging drugs by treating age-related diseases, prevention of cancer by inhibiting aging. Cancer and COVID-19 are age-related diseases.

Aging is indexed and archived by PubMed/Medline (abbreviated as “Aging (Albany NY)”), PubMed Central, Web of Science: Science Citation Index Expanded (abbreviated as “Aging‐US” and listed in the Cell Biology and Geriatrics & Gerontology categories), Scopus (abbreviated as “Aging” and listed in the Cell Biology and Aging categories), Biological Abstracts, BIOSIS Previews, EMBASE, META (Chan Zuckerberg Initiative) (2018-2022), and Dimensions (Digital Science).

Please visit our website at www.Aging-US.com​​ and connect with us:

  • Aging X
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  • Aging LinkedIn
  • Aging SoundCloud
  • Aging Pinterest
  • Aging Reddit

Click here to subscribe to Aging publication updates.

For media inquiries, please contact media@impactjournals.com.

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NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism

NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism

One month after the inflation outlook tracked…

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March 11, 2024

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NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism

One month after the inflation outlook tracked by the NY Fed Consumer Survey extended their late 2023 slide, with 3Y inflation expectations in January sliding to a record low 2.4% (from 2.6% in December), even as 1 and 5Y inflation forecasts remained flat, moments ago the NY Fed reported that in February there was a sharp rebound in longer-term inflation expectations, rising to 2.7% from 2.4% at the three-year ahead horizon, and jumping to 2.9% from 2.5% at the five-year ahead horizon, while the 1Y inflation outlook was flat for the 3rd month in a row, stuck at 3.0%. 

The increases in both the three-year ahead and five-year ahead measures were most pronounced for respondents with at most high school degrees (in other words, the "really smart folks" are expecting deflation soon). The survey’s measure of disagreement across respondents (the difference between the 75th and 25th percentile of inflation expectations) decreased at all horizons, while the median inflation uncertainty—or the uncertainty expressed regarding future inflation outcomes—declined at the one- and three-year ahead horizons and remained unchanged at the five-year ahead horizon.

Going down the survey, we find that the median year-ahead expected price changes increased by 0.1 percentage point to 4.3% for gas; decreased by 1.8 percentage points to 6.8% for the cost of medical care (its lowest reading since September 2020); decreased by 0.1 percentage point to 5.8% for the cost of a college education; and surprisingly decreased by 0.3 percentage point for rent to 6.1% (its lowest reading since December 2020), and remained flat for food at 4.9%.

We find the rent expectations surprising because it is happening just asking rents are rising across the country.

At the same time as consumers erroneously saw sharply lower rents, median home price growth expectations remained unchanged for the fifth consecutive month at 3.0%.

Turning to the labor market, the survey found that the average perceived likelihood of voluntary and involuntary job separations increased, while the perceived likelihood of finding a job (in the event of a job loss) declined. "The mean probability of leaving one’s job voluntarily in the next 12 months also increased, by 1.8 percentage points to 19.5%."

Mean unemployment expectations - or the mean probability that the U.S. unemployment rate will be higher one year from now - decreased by 1.1 percentage points to 36.1%, the lowest reading since February 2022. Additionally, the median one-year-ahead expected earnings growth was unchanged at 2.8%, remaining slightly below its 12-month trailing average of 2.9%.

Turning to household finance, we find the following:

  • The median expected growth in household income remained unchanged at 3.1%. The series has been moving within a narrow range of 2.9% to 3.3% since January 2023, and remains above the February 2020 pre-pandemic level of 2.7%.
  • Median household spending growth expectations increased by 0.2 percentage point to 5.2%. The increase was driven by respondents with a high school degree or less.
  • Median year-ahead expected growth in government debt increased to 9.3% from 8.9%.
  • The mean perceived probability that the average interest rate on saving accounts will be higher in 12 months increased by 0.6 percentage point to 26.1%, remaining below its 12-month trailing average of 30%.
  • Perceptions about households’ current financial situations deteriorated somewhat with fewer respondents reporting being better off than a year ago. Year-ahead expectations also deteriorated marginally with a smaller share of respondents expecting to be better off and a slightly larger share of respondents expecting to be worse off a year from now.
  • The mean perceived probability that U.S. stock prices will be higher 12 months from now increased by 1.4 percentage point to 38.9%.
  • At the same time, perceptions and expectations about credit access turned less optimistic: "Perceptions of credit access compared to a year ago deteriorated with a larger share of respondents reporting tighter conditions and a smaller share reporting looser conditions compared to a year ago."

Also, a smaller percentage of consumers, 11.45% vs 12.14% in prior month, expect to not be able to make minimum debt payment over the next three months

Last, and perhaps most humorous, is the now traditional cognitive dissonance one observes with these polls, because at a time when long-term inflation expectations jumped, which clearly suggests that financial conditions will need to be tightened, the number of respondents expecting higher stock prices one year from today jumped to the highest since November 2021... which incidentally is just when the market topped out during the last cycle before suffering a painful bear market.

Tyler Durden Mon, 03/11/2024 - 12:40

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Homes listed for sale in early June sell for $7,700 more

New Zillow research suggests the spring home shopping season may see a second wave this summer if mortgage rates fall
The post Homes listed for sale in…

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March 11, 2024

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  • A Zillow analysis of 2023 home sales finds homes listed in the first two weeks of June sold for 2.3% more. 
  • The best time to list a home for sale is a month later than it was in 2019, likely driven by mortgage rates.
  • The best time to list can be as early as the second half of February in San Francisco, and as late as the first half of July in New York and Philadelphia. 

Spring home sellers looking to maximize their sale price may want to wait it out and list their home for sale in the first half of June. A new Zillow® analysis of 2023 sales found that homes listed in the first two weeks of June sold for 2.3% more, a $7,700 boost on a typical U.S. home.  

The best time to list consistently had been early May in the years leading up to the pandemic. The shift to June suggests mortgage rates are strongly influencing demand on top of the usual seasonality that brings buyers to the market in the spring. This home-shopping season is poised to follow a similar pattern as that in 2023, with the potential for a second wave if the Federal Reserve lowers interest rates midyear or later. 

The 2.3% sale price premium registered last June followed the first spring in more than 15 years with mortgage rates over 6% on a 30-year fixed-rate loan. The high rates put home buyers on the back foot, and as rates continued upward through May, they were still reassessing and less likely to bid boldly. In June, however, rates pulled back a little from 6.79% to 6.67%, which likely presented an opportunity for determined buyers heading into summer. More buyers understood their market position and could afford to transact, boosting competition and sale prices.

The old logic was that sellers could earn a premium by listing in late spring, when search activity hit its peak. Now, with persistently low inventory, mortgage rate fluctuations make their own seasonality. First-time home buyers who are on the edge of qualifying for a home loan may dip in and out of the market, depending on what’s happening with rates. It is almost certain the Federal Reserve will push back any interest-rate cuts to mid-2024 at the earliest. If mortgage rates follow, that could bring another surge of buyers later this year.

Mortgage rates have been impacting affordability and sale prices since they began rising rapidly two years ago. In 2022, sellers nationwide saw the highest sale premium when they listed their home in late March, right before rates barreled past 5% and continued climbing. 

Zillow’s research finds the best time to list can vary widely by metropolitan area. In 2023, it was as early as the second half of February in San Francisco, and as late as the first half of July in New York. Thirty of the top 35 largest metro areas saw for-sale listings command the highest sale prices between May and early July last year. 

Zillow also found a wide range in the sale price premiums associated with homes listed during those peak periods. At the hottest time of the year in San Jose, homes sold for 5.5% more, a $88,000 boost on a typical home. Meanwhile, homes in San Antonio sold for 1.9% more during that same time period.  

 

Metropolitan Area Best Time to List Price Premium Dollar Boost
United States First half of June 2.3% $7,700
New York, NY First half of July 2.4% $15,500
Los Angeles, CA First half of May 4.1% $39,300
Chicago, IL First half of June 2.8% $8,800
Dallas, TX First half of June 2.5% $9,200
Houston, TX Second half of April 2.0% $6,200
Washington, DC Second half of June 2.2% $12,700
Philadelphia, PA First half of July 2.4% $8,200
Miami, FL First half of June 2.3% $12,900
Atlanta, GA Second half of June 2.3% $8,700
Boston, MA Second half of May 3.5% $23,600
Phoenix, AZ First half of June 3.2% $14,700
San Francisco, CA Second half of February 4.2% $50,300
Riverside, CA First half of May 2.7% $15,600
Detroit, MI First half of July 3.3% $7,900
Seattle, WA First half of June 4.3% $31,500
Minneapolis, MN Second half of May 3.7% $13,400
San Diego, CA Second half of April 3.1% $29,600
Tampa, FL Second half of June 2.1% $8,000
Denver, CO Second half of May 2.9% $16,900
Baltimore, MD First half of July 2.2% $8,200
St. Louis, MO First half of June 2.9% $7,000
Orlando, FL First half of June 2.2% $8,700
Charlotte, NC Second half of May 3.0% $11,000
San Antonio, TX First half of June 1.9% $5,400
Portland, OR Second half of April 2.6% $14,300
Sacramento, CA First half of June 3.2% $17,900
Pittsburgh, PA Second half of June 2.3% $4,700
Cincinnati, OH Second half of April 2.7% $7,500
Austin, TX Second half of May 2.8% $12,600
Las Vegas, NV First half of June 3.4% $14,600
Kansas City, MO Second half of May 2.5% $7,300
Columbus, OH Second half of June 3.3% $10,400
Indianapolis, IN First half of July 3.0% $8,100
Cleveland, OH First half of July  3.4% $7,400
San Jose, CA First half of June 5.5% $88,400

 

The post Homes listed for sale in early June sell for $7,700 more appeared first on Zillow Research.

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