Reneo Pharma Launches with $50M to Target Energy-Depleting Diseases

Yet another new biotech company has been founded in San Diego by serial entrepreneur Mike Grey and other alumni of rare disease startup Lumena Pharmaceuticals.

Reneo Pharmaceuticals, which has offices in San Diego and in the UK, announced Monday it has raised $50 million to advance a compound it is testing as a therapy for diseases that hamper the performance of mitochondria—the parts of our cells that turn what we eat into energy, among other life-sustaining tasks.