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OnKure Announces Closing of Merger with Reneo Pharmaceuticals and Concurrent Private Placement of $65 Million
OnKure Therapeutics has completed its merger with Reneo Pharmaceuticals and a concurrent $65 million private placement, with the combined company now trading on Nasdaq as OKUR. This transaction provides OnKure with approximately $139 million in cash, extending its operational runway into Q4-2026, and is focused on advancing its lead program, OKI-219, for PI3KαH1047R mutations in breast cancer with early clinical data expected in Q4-2024. Nicholas A. Saccomano, Ph.D., will lead the new entity as President and CEO.