California-based Reneo Pharmaceuticals, a clinical-stage pharmaceutical company, has secured $50 million in a Series A funding.

U.S. venture capital firm New Enterprise Associates (NEA) led the funding round with participation from Lundbeckfonden Ventures, Pappas Capital and RiverVest Venture Partners.

Reneo Pharmaceuticals will use the new funds to develop therapies for diseases associated with deficits in cellular metabolism and energy production.

Additionally, the company will also use the money raised from the funding to support the ongoing Phase 1b clinical trials as well as other clinical and preclinical studies.