CEO Gregory Flesher (Reneo)

No­vo and Abing­worth back a $95M Se­ries B for Re­neo Phar­ma­ceu­ti­cals, which aims to treat dis­eases of the mi­to­chon­dria

Less than two years af­ter its com­ing-out par­ty with a $50 mil­lion launch round, Re­neo Phar­ma­ceu­ti­cals re­turned to the ven­ture well and reeled in some high-pro­file back­ers.

The San Diego-based biotech an­nounced the clos­ing of its $95 mil­lion Se­ries B on Wednes­day morn­ing, co-led by No­vo Ven­tures and Abing­worth, to sup­port its re­search in­to ge­net­ic mi­to­chon­dr­i­al dis­eases. Wednes­day’s cash will give the com­pa­ny a three-year run­way, tak­ing them through the com­ple­tion of three ear­ly- to mid-stage tri­als for their lead pro­gram, REN001.

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