Summit Partners, a global alternative investment firm, has made a majority growth investment in LumaBridge, an oncology-focused clinical research organization.

LumaBridge, formerly known as Cancer Insight, will use the funding to build on its best-in-class clinical trial services to support emerging biopharma firms developing immuno-oncology treatments. The firm operates as a strategic partner to biopharma and biotech firms and offers outsourced clinical trial support across the entire lifecycle.

“The pipeline for clinical-stage immuno-oncology therapies is growing, as is the complexity, duration, and cost of these trials, fueling a need for outsourced services. In our experience, this is particularly true among emerging biotech companies, which often lack the internal resources to run trials in-house,” said Mark deLaar, managing director at Summit Partners who has joined the LumaBridge board of directors. “With a deeply experienced and highly regarded team, an extensive research site network, and robust clinical operations capabilities, we believe LumaBridge is strongly positioned to serve this important and growing need. We’re proud to partner with the LumaBridge team to support the company’s continued impact.”