Reneo Pharmaceuticals, a San Diego, CA-based clinical stage pharmaceutical company, completed a $50m Series A financing.
The round was led by New Enterprise Associates with participation from Lundbeckfonden Ventures, Pappas Capital and RiverVest Venture Partners.
The company intends to use the funds to develop therapies for diseases associated with deficits in cellular metabolism and energy production. Proceeds from the Series A will be used to support ongoing Phase 1b clinical trials, as well as other clinical and preclinical studies.
Led by Niall O’Donnell, Ph.D., president and CEO, 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).
The company’s board of directors includes:
– Mike Grey, founder and executive chairman at Reneo;
– Niall O’Donnell, founder and CEO at Reneo and managing director at RiverVest Venture Partners;
– Ed Mathers, partner at NEA;
– Johan Kordel, Ph.D., senior partner at Lundbeckfonden Ventures;
– Arthur Pappas, managing partner at Pappas Capital, and
– Lon Cardon, Ph.D., chief scientific officer at BioMarin Pharmaceutical.