Finance
2024.05.14
Center Lab Group Executive Takes Helm as New Lumosa Chairman to Drive Global Licensing of LT3001 Stroke Candidate
(May 14, 2024, Taipei) Lumosa Therapeutics Co., Ltd. (Lumosa; code:6535.TWO) today held an institutional investors' conference and announced the Board's resolutions for a new equity financing round and key management changes. Ms. Su-Chi Wang, the representative nominated by Lumosa's largest shareholder Center Laboratories Group, has been appointed as the new Chairman of the Board. Dr. Sheng-Wen Yeh from the Preclinical Development Division will assume the role of General Manager, while the former Chairman and General Manager Mr. Rong-Jin Lin is stepping down temporarily to focus on strategic initiatives.
As Lumosa's lead stroke therapy LT3001 approaches a critical juncture for global licensing, Mr. Lin will leverage his expansive network across Center Laboratories Group's international pharmaceutical investment portfolio to maximize LT3001's worldwide commercialization prospects. The new General Manager Dr. Sheng-Wen Yeh has been the driving force behind LT3001's development from compound selection, preclinical validation, mechanism elucidation to clinical trial design over the past decade. She will apply her product expertise to execute a de-risked clinical strategy and ensure the pivotal studies achieve their endpoints. With the Group's licensing capabilities, Lumosa aims to unlock LT3001's full value proposition.
"Establishing a top 50 global pharmaceutical company from Taiwan has been my lifelong mission," said Mr. Lin. "Now that LT3001 has reached an important inflection point, I will marshal the Group's resources to clear the path for its global licensing. Dr. Yeh is undoubtedly the world's foremost scientific authority on LT3001 and the ideal person to lead Lumosa. I look forward to our licensingt and clinical initiatives converging to complete LT3001's final step onto the world stage."
In today's institutional investors' conference, Dr. Sheng-Wen Yeh provided updates on the key pipeline programs:
For the three pivotal Phase 2 studies of LT3001 underway, patient enrollment in the China study conducted by regional partner Shanghai Pharmaceutical Holdings has exceeded expectations, with over 80% of the target number of patients already enrolled. Last Patient In (LPI) is expected in mid-2024, keeping the study on track for data readout by year-end. The two global studies led by Lumosa are projected to complete in 2025. In parallel, Lumosa is actively investing in next-generation modalities beyond LT3001, spanning exosome and allogeneic cell therapies. The Company recently invested in the innovative gene editing firm GenEditBio to enter the gene therapy space, exploring various emerging therapeutic platforms. Lumosa's marketed long-acting analgesic LT1001 has obtained marketing approvals across six countries to date and will continue to pursue niche market opportunities to provide financial optionality. Looking ahead, successful LT3001 commercialization is expected to fuel the incubation of Lumosa's future innovative pipeline and reinforce its sustainable business model.