Novo and Lundbeck are in line for exits from the mitochondrial disease therapy developer, which has raised $145m across two funding rounds.
US-based mitochondrial disease drug developer Reneo Pharmaceuticals has filed for a $100m initial public offering on the Nasdaq Global Market that would enable pharmaceutical firms Novo and Lundbeck to exit.
Reneo is working on therapeutics for rare genetic mitochondrial diseases and plans to put $20m of the IPO proceeds into completing a phase 2b clinical trial for a drug candidate called REN001 for primary mitochondrial myopathies, a condition associated with the body’s mitochondria.
The company will also put $15m each…
