Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.OnKure, the epigenetics-focused drug discovery and development company, has secured $7m series A financing for its research and development activities.
Subscribe to our email newsletter
Delian Capital led the investment round with participation from existing and new investors including OnKure management. The investment will help the company aggressively accelerate its research and development activities.
Delian Capital invests in early stage biopharmaceutical startups that redefine or create large new markets, with notable investments such as Chance Pharma, MicuRx and Bioceutiq. The Series A financing builds on an exceptional year for OnKure, which made significant progress towards advancing its first clinical candidate, OKI-179, towards Phase 1.
OnKure's platform transforms naturally occurring, biologically active lead compounds into commercial drugs that address a variety of diseases with an emphasis on oncology.
At the heart of OnKure's solution to Class 1 histone deacetylase inhibition is a molecule (OKI-179) that parallels the potency and selectivity of Romidepsin (Istodax), the most potent Class 1 biased histone deacetylase inhibitor currently approved by the FDA.
While Romidepsin is administered by continuous infusion, OKI-179 was designed as an orally active drug and has demonstrated a superior safety profile in preclinical studies. As an orally administered therapy, it is also more suitable for combination dosing with a variety of targeted anti-cancer agents.
OnKure co-founder, president and CEO Tony Piscopio said: "We are delighted that Delian Capital chose to lead our Series A round and I look forward to working with Mr. Guobao Zhao, Vice President of Delian Capital's Healthcare Division and OnKure's newest addition to the board.
"OnKure will use these funds to accelerate the clinical development of OKI-179 and expand its pipeline through in-licensing first–in–class or best–in–class compounds that synergize with OKI-179."
Delian Capital vice president Guobao Zhao said: "Delian invests in pharmaceutical companies with a deep understanding of disease mechanisms and extensive clinical expertise."
Source: Company Press Release