January 2024 - Remix Therapeutics

Remix will receive $30 million upfront and is eligible to receive up to $12 million in near-term milestone payments and up to $1 billion in milestone payments and royalties

Watertown, Mass. (January 3, 2024) – Remix Therapeutics (Remix), a clinical stage biotechnology company developing small molecule therapies to modulate RNA processing and address underlying drivers of disease, today announced a collaboration and license agreement with Roche (SIX: RO, ROG; OTCQX: RHHBY) for the discovery and development of small molecule therapeutics that modulate RNA processing using Remix’s REMaster drug discovery platform.

Under the terms of the agreement, Remix will receive an upfront payment of $30 million and are eligible to receive up to $12 million in near-term milestone payments, as well as preclinical, clinical, commercial and sales milestones of up to $1 billion and tiered royalties. In exchange, Roche will have exclusive rights to specific targets. Remix will conduct discovery and preclinical activities with Roche, and Roche will be responsible for development and commercialization of any resulting products.

“We’re excited to partner with a team with strong expertise and dedication to the field of interfering with targets at the RNA level,” said Peter Smith, Ph.D., President and Chief Executive Officer of Remix Therapeutics. “Our collaboration with Roche provides an opportunity to further leverage our REMaster drug discovery platform and translate our cutting-edge science into new medicines.”

“We have been impressed by Remix and their scientific accomplishments with their REMaster drug discovery platform,” said James Sabry, Global Head of Roche Pharma Partnering. “This collaboration aligns well with our strategy to join forces with partners who pursue innovative approaches to discover and develop new medicines for patients in areas of high unmet medical need.”

About Remix Therapeutics

Remix Therapeutics is a clinical stage biotechnology company developing novel small molecule therapies designed to reprogram RNA processing and treat disease. The REMaster^TM technology platform facilitates RNA processing pattern identification, leveraging these learnings to modulate gene expression. Remix’s innovative therapeutic approach has the potential to alter the way genes are read from the genome, to correct, enhance, or eliminate the gene message, thereby addressing disease drivers at their origin. For more information visit www.remixtx.com.

Remix Therapeutics™ Closes $60 Million Financing to Advance REM-422, Pipeline of Small Molecule Therapies Designed to Reprogram RNA Processing to Treat Disease

Posted on January 3, 2024January 2, 2024 by Rachel Suflita McKee

Cambridge, Mass. (January 3, 2024) – Remix Therapeutics (Remix), a clinical-stage biotechnology company developing small molecule therapies to modulate RNA processing and address the underlying drivers of disease, today announced the close of a $60 million financing led by The Column Group. The financing includes participation from existing investors Atlas Venture, Foresite Capital, Alexandria Venture Investments, Arch Venture Partners, Casdin Capital, and Surveyor (a Citadel company) along with new investors WTT Investment, Willett Advisors, and others. The funds will support clinical development of the company’s lead program, REM-422, and further advancement of a pipeline of RNA processing targeted therapeutics.

“We are proud of and encouraged by the support of such a strong syndicate of investors who believe in Remix’s ability to develop novel small molecule therapies designed to reprogram RNA processing and treat disease in entirely new ways,” Peter Smith, Ph.D., Co-Founder and Chief Executive Officer of Remix Therapeutics. “This financing enables us to continue development of our pipeline and advance our lead program, REM-422, into the clinic for the treatment of adenoid cystic carcinoma and acute myeloid leukemia/myelodysplastic syndromes this year.”

Fueled by its proprietary technology platform, Remix is leveraging the power of data analytics and machine learning, bespoke high-throughput screening technologies, and next generation chemistry to advance a pipeline of breakthrough therapies designed to precisely modulate RNA processing. The company’s innovative approach has the unique ability to identify and target RNA processing steps to degrade mRNA, enhance RNA production, or to correct RNA dysregulation in disease. Remix’s lead candidate, REM-422, is expected to enter two Phase 1 clinical studies for the treatment of recurrent or metastatic adenoid cystic carcinoma and acute myeloid leukemia/myelodysplastic syndromes in 2024.

“Remix has made significant progress over the last several years demonstrating pre-clinical proof-of-concept for several RNA processing programs discovered using its novel platform,” said Peter Svennilson, Founder and Managing Partner of The Column Group. “We look forward to Remix realizing the full potential of its unique approach, advancing small molecules that can control gene expression to effectively treat a broad range of diseases.”

About Remix Therapeutics

Remix Therapeutics is a biotechnology company developing novel small molecule therapies designed to reprogram RNA processing and treat disease. RNA processing is the pathway that controls gene and protein expression. The REMaster™ technology platform facilitates RNA processing pattern identification, leveraging these learnings to identify and target key RNA processing steps to modulate gene expression. Remix’s innovative therapeutic approach has the ability to alter the way genes are read from the genome, to correct, enhance, or eliminate the gene message, thereby addressing disease drivers at their origin. For more information visit www.remixtx.com.