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­Reneo Pharmaceuticals Raises $95 Million in Series B Financing, Co-led by Novo Ventures and Abingworth

Dec 09, 2020•almost 5 years ago

Amount Raised

$95 Million

Round Type

series b

San Diego

Description

 Reneo Pharmaceuticals, Inc. today announced it raised $95 million in a Series B financing co-led by Novo Ventures and Abingworth and supported by existing investors New Enterprise Associates, RiverVest Venture Partners, Pappas Capital, and Lundbeckfonden Ventures, as well as new investors Rock Springs Capital, Aisling Capital, Amzak Health, and other investors. Reneo is a clinical stage pharmaceutical company focused on the development of therapies for patients with genetic mitochondrial diseases.

Company Information

Company

Ren001

Location

San Diego, California, United States

About

REN001 is an oral, once-daily investigational drug known to control several genes involved in mitochondrial activity. Mitochondria are the powerhouses of the cell, where carbohydrates, fats, and proteins are used to generate the energy the body needs. Reneo is developing REN001 as a first-in-class treatment option to improve cellular energy metabolism by enhancing mitochondrial function and potentially increasing the number of mitochondria.

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