Building a liver powerhouse

Lumena Pharmaceuticals Inc. will use last week's $45 million series B round to support expanded Phase II testing of LUM001 in cholestatic liver disease and a planned Phase II trial for LUM002 in nonalcoholic steatohepatitis (NASH).

New Enterprise Associates led the round, with participation from fellow new investors Adage Capital Management and RA Capital Management and existing investors Pappas Ventures, RiverVest Venture Partners and Alta Partners...