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

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

SAN DIEGODec. 9, 2020 — 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.

Reneo Pharmaceuticals Raises $50 Million to Develop Therapeutics to Treat Genetic Mitochondrial Diseases

San Diego, CA, May 20, 2019 — Reneo Pharmaceuticals, a clinical stage pharmaceutical company, today announced that it has completed a $50 million Series A financing to develop therapies for diseases associated with deficits in cellular metabolism and energy production. The A round was led by New Enterprise Associates. Other participants in the round include Lundbeckfonden Ventures, Pappas Capital and RiverVest Venture Partners. Reneo is currently developing REN001, a PPAR delta agonist, to treat genetically defined rare mitochondrial diseases such as fatty acid oxidation disorders (FAOD) and primary mitochondrial myopathies (PMM). Proceeds from the Series A will be used to support ongoing Phase 1b clinical trials, as well as other clinical and preclinical studies.