Reneo Pharma reports $93.8M cash; enters non-binding term sheet for up to $100M royalty financing

OnKure Therapeutics, Inc.

Preliminary cash, cash equivalents and short-term investments of $93.8M as of March 31, 2023.
Non-binding term sheet for structured royalty financing up to $100M with an insider investor (>5% holder).
Initial $30M at closing, additional tranches based on milestones; deal expected Q2 2023 if definitive.
Collaboration agreement with affiliate development company; joint steering committee planned.
Mavodelpar (REN001) royalty payments would apply if approved in US or EU.

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