OnKure Therapeutics entered into a $150 million private placement to fund its next-generation PI3Kα pan-mutant programs and appointed a new director designated by the lead investor.
Key takeaways
OnKure entered into a securities purchase agreement for a private placement expected to generate approximately $150 million in gross proceeds.
The company will issue 26,713,636 shares of common stock at $4.15 per share and pre-funded warrants for 9,430,959 shares at $4.1499 per underlying warrant share.
Net proceeds will fund preclinical and clinical development of OKI-345 and OKI-355, with IND submissions planned for the first half of 2027.
The lead investor, AI Biotechnology LLC, obtained a director designation right, resulting in the election of Dr. Liam Ratcliffe to the board contingent on the closing.
The company provided updates on its clinical programs, noting it does not plan to pursue further independent development of OKI-219 at this time.