Reneo Pharmaceuticals Announces Partial Waiver of Lock-Up Restriction
SAN DIEGO, July 09, 2021 (GLOBE NEWSWIRE) -- Reneo Pharmaceuticals, Inc. (Nasdaq: RPHM), a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, announced today that Jefferies LLC, SVB Leerink LLC and Piper Sandler, as the representatives of the several underwriters of Reneo’s initial public offering, have agreed to waive the lock-up restriction with respect to 111,736 shares of common stock held by Wendy Johnson, an officer of the company who previously announced her intention to retire on or before December 31, 2021. The waiver for Ms. Johnson will take effect on July 13, 2021 and the shares may be sold on or after such date.
This press release is not an offer for sale of the securities in the United States or in any other jurisdiction where such offer is prohibited, and such securities may not be offered or sold in the United States absent registration or an exemption from registration under the United States Securities Act of 1933, as amended.
About Reneo Pharmaceuticals
Reneo is a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, which are often associated with the inability of mitochondria to produce adenosine triphosphate (ATP). Reneo is developing REN001 to modulate genes critical to metabolism and generation of ATP, which is the primary source of energy for cellular processes. REN001 has been shown to increase transcription of genes involved in mitochondrial function and increase fatty acid oxidation, and may increase production of new mitochondria.
LifeSci Advisors, LLC
Chief Financial Officer
Reneo Pharmaceuticals, Inc.