Pappas Ventures established Lumena in 2011 in order to address liver diseases characterized by impaired bile flow and retention of bile in the liver and the body – diseases that can lead to progressive liver damage and intractable itching. The company’s lead candidate, LUM-001, is specifically designed to have limited systemic exposure and targets the Apical Sodium-dependent Bile Acid Transporter (ASBT), which is localized on the luminal surface of the lower portion of the small intestines. LUM-001 works by preventing recycling of bile acids, thereby reducing bile acid accumulation, improving liver function and potentially relieving the extreme itching associated with cholestatic diseases.

Pappas Capital venture partner Mike Grey served as the President and Chief Executive Officer of Lumena. The company was acquired by Shire plc in June 2014.