Reneo Reveals $50m Series A, Mitochondrial Disease Development Plans
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.
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AgomAb, CinCor and Confo Therapeutics secure Series A financing, while AlloVir closes a $121m Series B and more venture financing in April and May.
With $120m in Series A funding, the new company headed by former Lumena execs will advance maralixibat into Phase III in Alagille syndrome and progressive familial intrahepatic cholestasis. Shire acquired Lumena for $260m in 2014, but lost interest in the drug.
Shire has acquired rare disease-focused Lumena Pharmaceuticals of San Diego for $260m in cash. Lumena is developing repurposed cholesterol-lowering drugs that it licensed from Pfizer and Sanofi to treat cholestatic liver diseases. A further payment for the biotech's cash on closing and milestone payments related to ongoing clinical trials are also included in the deal.