Some of the best connected players in the San Diego hub organize launch round for another biotech with an eye on trial data

Mike Grey and his network of San Diego-based biotech execs are formally notching a new startup debut today.

Mike Grey

The company is Reneo Pharmaceuticals, which drew a syndicate together around CEO Niall O?Donnell with $50 million to support their ongoing work on new treatments for genetic mitochondrial diseases.

Today marks their coming out party for the company, but the 12-member team at Reneo ? 7 in the UK and 5 in San Diego ? have been hard at it for more than 2 years. They?ve already steered their way to 2 clinical trials, focusing on REN001, a PPAR-delta agonist being used to treat genetically defined rare mitoch