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Reneo Reveals $50m Series A, Mitochondrial Disease Development Plans

 
• By Mandy Jackson

The start-up run by ex-Lumena leadership is testing REN001 for rare genetic mitochondrial diseases with two Phase Ib trials under way and plans to start a third later this year.

Hand man doing finances and calculate on desk about cost at home office.
Reneo will run three trials with its $50m in series A cash. • Source: Shutterstock

Reneo Pharmaceuticals Inc. has been developing REN001 for rare genetic mitochondrial diseases for more than a year. But now that it has two clinical trials under way and a third planned to start later this year, the firm came out of stealth mode on 20 May to announce its $50m series A venture capital financing.

San Diego-based Reneo is run by former Lumena Pharmaceuticals Inc. executives, including president and CEO Niall O'Donnell, who was Lumena's interim chief medical officer when it was sold to Shire PLC for $260m in 2014. (Also see "Shire buys repurposed Pfizer/Sanofi drugs through $260m Lumena acquisition" - Scrip, 12 May, 2014

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