Cases & Deals

Reneo Pharmaceuticals announces reverse merger with OnKure

Client(s) Reneo Pharmaceuticals, Inc.

Jones Day is representing Reneo Pharmaceuticals, Inc. (NASDAQ: RPHM) in an all-stock reverse merger between Reneo and OnKure, Inc., a privately-held, clinical-stage biopharmaceutical company valued at $170 million that is focused on the development of novel precision medicines in oncology. Upon completion of the transaction, the combined company will be traded on the Nasdaq Global Market and will focus on advancing OnKure's portfolio of novel precision oncology medicines targeting oncogenic mutations in PIK3a.

The transaction is expected to close in the third quarter of 2024, subject to customary closing conditions.