Reneo Pharmaceuticals, a Phase 2 biotech developing therapies for rare genetic mitochondrial diseases, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The company's sole candidate, REN001, is being developed to modulate genes critical to metabolism and generation of ATP, which is the primary source of energy for cellular processes. REN001 is currently in a Phase 2b trial for primary mitochondrial myopathies, with data expected in 2023, and two Phase 1b trials for long-chain fatty acid oxidation disorders and glycogen storage disease type V, with data expected for both in the 1H22.
The San Diego, CA-based company was founded in 2014 and plans to list on the Nasdaq under the symbol RPHM. Reneo Pharmaceuticals filed confidentially on February 12, 2021. Jefferies, SVB Leerink and Piper Sandler are the joint bookrunners on the deal. No pricing terms were disclosed.
