OnKure Therapeutics Announces $54 Million Series C Financing

Proceeds to fund the advancement of the Company’s robust pipeline of potentially best-in-class candidates, particularly lead discovery program, OKI-219, a selective PI3K alpha H1047R inhibitor

Boulder, Colorado – May 23, 2023 – OnKure, Inc. a precision oncology company, today announced that it has successfully closed a $54 million Series C financing. The financing was led by Surveyor Capital (a Citadel company) with participation from new investor Deep Track Capital, as well as existing investors Acorn Bioventures, Cormorant Asset Management, Perceptive Advisors, Samsara BioCapital, funds and accounts managed by BlackRock, and other undisclosed investors.

Proceeds from the financing will be used to support the continued development of OnKure’s differentiated pipeline of next generation precision medicines, including the advancement of its lead discovery program OKI-219, a selective PI3K alpha H1047R inhibitor, into the clinic.

“We are delighted to be working with our new and existing investors to achieve our vision of developing the next generation of tumor-agnostic, oncology precision medicines,” said Tony Piscopio, Ph.D., Co-Founder, President and Chief Executive Officer of OnKure. “Our team of drug discovery veterans are actively exploring a pipeline of novel oncogene-targeted programs designed to achieve optimal tolerability and efficacy. We look forward to filing our second IND in 2023 and advancing OKI-219 into clinical development early next year.”

“OnKure is at the forefront of innovation in the oncology space,” commented Isaac Manke, Ph.D., a Partner at Acorn Bioventures and Chairman of OnKure. “We are proud to have participated in this Series C financing to enable this team of industry leaders to be able to continue to bring new cancer therapies to patients around the world.”

About OnKure Therapeutics

OnKure, Inc. is a clinical-stage biopharmaceutical company focused on the discovery and development of best-in-class precision medicines that target biologically validated drivers of cancer. Using a proven structure-based drug design platform, the Company is building a robust pipeline of tumor-agnostic candidates that are designed to achieve optimal efficacy and tolerability. OnKure is currently developing bocodepsin (OKI-179), an oral, selective Class I HDAC inhibitor for the treatment of both hematological and solid tumors, in addition to OKI-219, a selective PI3K alpha H1047R inhibitor.

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