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OnKure Therapeutics Announces Oversubscribed $150 Million Private Placement to Advance Next-Generation PI3Kα Pan-Mutant Selective Inhibitor Candidates in Breast Cancer and Vascular Anomalies

OKUR
  • OnKure Therapeutics raised approximately $150 million in gross proceeds through a private placement led by Access Biotechnology & other new & existing investors.
  • The company plans to use net proceeds to fund preclinical & clinical development of next-generation PI3Kα pan-mutant inhibitors OKI-345 (breast cancer) & OKI-355 (vascular anomalies), plus working capital.
  • OnKure intends to submit Investigational New Drug (IND) applications for OKI-345 & OKI-355 to the FDA in the first half of 2027.
  • Liam Ratcliffe, M.D., Ph.D., Head of Biotechnology at Access Biotechnology, joined OnKure's Board of Directors in conjunction with the financing.
  • The private placement involves selling 26,713,636 shares of Class A common stock at $4.15 per share & 9,430,959 pre-funded warrants at $4.1499 per warrant.
  • The transaction is expected to close on March 31, 2026, & is projected to extend OnKure's cash runway into 2029.
  • The PIKture-01 trial for candidate OKI-219 has completed enrollment in dose escalation arms, with Phase 2 dose evaluations scheduled for completion in 2026.
  • OnKure will not pursue further independent clinical development of OKI-219, & mature data from the PIKture-01 trial will be presented by the end of 2026.
  • The new PI3Kα pan-mutant programs are designed to selectively inhibit mutant PI3Kα while sparing wildtype PI3Kα to potentially avoid class-limiting toxicities.
  • Leerink Partners acted as the lead placement agent, while Evercore ISI, LifeSci Capital, & Oppenheimer & Co. served as co-placement agents.