#Lutris Pharma #LUT014 #EGFR inhibitors

Lutris Pharma Secures $30 Million for LUT014 Development

Lutris Pharma, an innovative clinical stage biopharmaceutical firm headquartered in Tel Aviv, has announced that it has successfully acquired $30 million in financing to propel the development of its breakthrough product, LUT014. This topical gel is specifically designed to alleviate the skin toxicity known as acneiform rashes, which is often triggered by Epidermal Growth Factor Receptor inhibitors (EGFRi) used in cancer treatments. This funding round was spearheaded by Columbus Venture Partners, supported by Pontifax Venture Capital and joined by Peregrine Ventures and aMoon Fund.

As many of you may know, EGFR inhibitors play a critical role in cancer therapy; however, they frequently come with the burden of adverse effects including severe skin reactions. Research indicates that a staggering 90% of patients undergoing such therapies experience some form of dermatological complications, which detrimentally impacts their treatment adherence and overall quality of life. Many patients have had to stop treatment prematurely within just three months due to intolerable side effects, leading to worsened health outcomes and increased disease progression.

The new funding will allow Lutris Pharma to continue the clinical development of LUT014, a novel B-Raf inhibitor. Dr. Noa Shelach, CEO of Lutris Pharma, expressed gratitude to the investors for their faith in LUT014’s potential.