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OnKure Therapeutics completes merger with Reneo Pharmaceuticals; raises USD 65 million via private placement to advance oncology drug development
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Oct 4, 2024
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Precision Medicine

Precision Medicine

Oct 4, 2024

OnKure Therapeutics completes merger with Reneo Pharmaceuticals; raises USD 65 million via private placement to advance oncology drug development

M&A
Funding

  • OnKure Therapeutics has announced the completion of its merger with Reneo Pharmaceuticals. Subsequent to the merger, the company raised USD 65 million in a private placement, joined by new and existing investors, including Acorn Bioventures, Cormorant Asset Management, Deep Track Capital, Perceptive Advisors, Samsara BioCapital, Surveyor Capital, and Vestal Point Capital.

  • Post-merger, the combined company will operate under the name OnKure. It plans to start trading its shares on the Nasdaq Global Market on October 7, 2024, under the ticker symbol "OKUR." The company will advance its pipeline of candidates targeting PI3Kα mutations, focusing on breast cancer. The early clinical data for its key program, OKI-219, is expected in Q4 2024.

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