4 March 2021 - - US-based biopharmaceutical company OnKure, Inc has raised USD 55m in a series B financing, the company said.

Proceeds will be used to advance the company's next generation histone deacetylase inhibitors further into clinical development and fund a growing pipeline of earlier stage molecules.

The financing was led by Acorn Bioventures with participation from additional new investors Cormorant Asset Management, Surveyor Capital (a Citadel company), Samsara BioCapital, Perceptive Advisors and funds and accounts managed by BlackRock.

In connection with the financing, Isaac Manke, Ph.D., Partner at Acorn Bioventures, and Andrew Phillips, Ph.D., Managing director at Cormorant Asset Management, will join the OnKure board of directors.

Solebury Capital served as financial advisor to OnKure for the offering.

OnKure is a biopharmaceutical company focused on the discovery and development of targeted small molecule drugs to improve the outcomes of patients afflicted with cancer.

The company's drug candidates aim to treat patients through restoration of the epigenetic landscape, delaying resistance to other targeted therapies and exploiting synthetic lethalities.

OnKure's most advanced candidate, OKI-179, a potent and selective Class I HDAC inhibitor, is moving into Phase 2 studies in targeted populations.